Agri Bank China (OTCMKTS:ACGBY) Sees Strong Trading Volume – Here’s Why

Agri Bank China (OTCMKTS:ACGBY) shares saw unusually-high trading volume on Monday. Approximately 40,707 shares traded hands during trading, an increase of 22% from the previous session’s volume of 33,276 shares. The stock last traded at $21.4950 and had previously closed at $21.50.

Analysts Set New Price Targets

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

Agri Bank China Trading Down 0.3%

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 $299.45 billion, a P/E ratio of 7.42 and a beta of 0.10. The company has a 50-day simple moving average of $20.39 and a 200-day simple moving average of $19.24.

Agri Bank China (OTCMKTS:ACGBY) last announced its earnings results on Friday, August 28th. The company reported $0.73 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 analysts’ expectations of $29.06 billion.

About Agri Bank China

Agricultural Bank of China Limited, also known as AgBank, is a major commercial bank headquartered in Beijing, China. Established in 1951, the bank has historically focused on supporting China’s agricultural sector and rural communities while expanding into a full-service financial institution serving individuals, businesses and government-related organizations.

The bank provides a broad range of services, including personal and corporate deposits and loans, payment and settlement services, wealth management, credit cards, investment banking, custody, foreign-exchange services and other financial products.