Agri Bank China (OTCMKTS:ACGBY) Sets New 1-Year High – Time to Buy?

Shares of Agri Bank China (OTCMKTS:ACGBY) hit a new 52-week high during trading on Tuesday. The stock traded as high as $22.24 and last traded at $21.23, with a volume of 6,632 shares. The stock had previously closed at $21.22.

Analysts Set New Price Targets

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

Agri Bank China Stock Up 0.5%

The firm’s 50-day moving average is $20.08 and its two-hundred day moving average is $19.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $298.47 billion, a P/E ratio of 7.38 and a beta of 0.10.

Agri Bank China (OTCMKTS:ACGBY) last announced its quarterly earnings data on Friday, August 28th. The company reported $0.73 EPS for the quarter. The firm 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 9.38% and a net margin of 21.51%.

About Agri Bank China

Agricultural Bank of China Limited, also known as Agri Bank China, is a state-owned commercial bank headquartered in Beijing. The bank traces its origins to 1951 and was reorganized as a commercial banking institution in 1979. It has historically focused on supporting agriculture, rural communities and county-level economies while expanding into a broad range of commercial banking activities.

The bank provides deposits, corporate and personal loans, payment and settlement services, credit cards, wealth management, investment banking and financial-market services.