Agri Bank China (OTCMKTS:ACGBY) Reaches New 12-Month High – Still a Buy?

Agri Bank China (OTCMKTS:ACGBY) hit a new 52-week high on Tuesday . The company traded as high as $21.50 and last traded at $20.70, with a volume of 25700 shares traded. The stock had previously closed at $20.75.

Analysts Set New Price Targets

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

Agri Bank China Stock Performance

The business has a 50-day moving average price of $19.50 and a 200-day moving average price of $18.62. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $288.95 billion, a price-to-earnings ratio of 7.14 and a beta of 0.10.

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

About Agri Bank China

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.