Agri Bank China (OTCMKTS:ACGBY) Shares Gap Up – Here’s Why

Agri Bank China (OTCMKTS:ACGBY) gapped up before the market opened on Thursday . The stock had previously closed at $20.5650, but opened at $21.3559. Agri Bank China shares last traded at $20.95, with a volume of 16,025 shares.

Analysts Set New Price Targets

Separately, Zacks Research lowered Agri Bank China from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 31st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Agri Bank China currently has an average rating of “Hold”.

Agri Bank China Price Performance

The company’s 50-day simple moving average is $19.62 and its 200 day simple moving average is $18.68. The company has a market cap of $293.78 billion, a PE ratio of 7.26 and a beta of 0.10. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.87 and a current ratio of 0.87.

Agri Bank China (OTCMKTS:ACGBY) last posted its quarterly earnings data on Friday, August 28th. The company reported $0.73 earnings per share for the quarter. The business had revenue of $30.09 billion for the quarter, compared to analyst estimates of $29.06 billion. Agri Bank China had a return on equity of 9.55% and a net margin of 21.51%.

Agri Bank China Company Profile

Agricultural Bank of China Limited, also known as AgBank, is a state-owned commercial bank headquartered in Beijing. The bank provides banking and financial services to individuals, businesses, government institutions and agricultural customers, with a particular focus on rural communities, farmers and the broader agricultural sector.

Its products and services include personal and corporate deposits, loans, payment and settlement services, wealth management, investment banking, financial markets activities and electronic banking.