Agri Bank China (OTCMKTS:ACGBY) Sets New 52-Week High – What’s Next?

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

Analyst Ratings Changes

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 analysts have rated the stock with a Hold rating. According to MarketBeat.com, Agri Bank China currently has a consensus rating of “Hold”.

Agri Bank China Trading Up 0.5%

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

Agri Bank China (OTCMKTS:ACGBY) last posted its earnings results on Friday, August 28th. The company reported $0.73 earnings per share (EPS) for the quarter. The company had revenue of $30.09 billion during the quarter, compared to analysts’ expectations of $29.06 billion. Agri Bank China had a net margin of 21.51% and a return on equity of 9.38%.

Agri Bank China Company Profile

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.