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

Agri Bank China (OTCMKTS:ACGBY) shares gapped up before the market opened on Monday. The stock had previously closed at $20.62, but opened at $21.51. Agri Bank China shares last traded at $21.51, with a volume of 4,378 shares trading hands.

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 research note on Monday, August 31st. Two research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Agri Bank China Price Performance

The stock has a market cap of $298.89 billion, a PE ratio of 7.34 and a beta of 0.10. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day moving average of $20.13 and a 200 day moving average of $19.10.

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