Agri Bank China (OTCMKTS:ACGBY) Sets New 1-Year High – Here’s Why

Shares of Agri Bank China (OTCMKTS:ACGBY) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.13 and last traded at $21.13, with a volume of 512 shares trading hands. The stock had previously closed at $20.01.

Wall Street Analysts Forecast Growth

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

Agri Bank China Stock Up 0.5%

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.87. The firm has a market cap of $284.61 billion, a P/E ratio of 7.03 and a beta of 0.10. The company’s 50 day simple moving average is $19.15 and its 200-day simple moving average is $18.48.

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

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.