Agri Bank China (OTCMKTS:ACGBY) Shares Gap Up After Analyst Upgrade

Agri Bank China (OTCMKTS:ACGBY)’s stock price gapped up before the market opened on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $17.15, but opened at $17.96. Agri Bank China shares last traded at $17.96, with a volume of 360 shares trading hands.

Separately, Citigroup lowered shares of Agri Bank China from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy”.

Agri Bank China Stock Down 2.6%

The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.22 and a current ratio of 1.22. The business’s 50 day moving average is $18.42 and its 200 day moving average is $17.96. The company has a market capitalization of $244.71 billion, a price-to-earnings ratio of 6.29 and a beta of 0.11.

Agri Bank China Company Profile

Agricultural Bank of China (trading OTC as ACGBY) is a major state-owned commercial bank headquartered in Beijing that provides a broad range of banking and financial services. As one of China’s largest banks, it offers services to corporate, institutional and retail clients, with a particular historical focus on serving agricultural and rural customers alongside urban and corporate markets. The bank operates a large domestic branch network and maintains an international presence through branches and representative offices.

The bank’s product and service mix includes corporate lending, trade finance, project finance and cash management for businesses, together with deposit, mortgage, consumer lending and wealth-management products for individual customers.