Agri Bank China (OTCMKTS:ACGBY) Sees Large Volume Increase – Still a Buy?

Agri Bank China (OTCMKTS:ACGBY) saw unusually-strong trading volume on Monday . Approximately 50,363 shares traded hands during mid-day trading, an increase of 50% from the previous session’s volume of 33,531 shares.The stock last traded at $20.21 and had previously closed at $19.77.

Analysts Set New Price Targets

A number of research firms have commented on ACGBY. Citigroup cut Agri Bank China from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Zacks Research raised Agri Bank China from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Agri Bank China Price Performance

The company has a market capitalization of $282.37 billion, a PE ratio of 7.26 and a beta of 0.10. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $18.52 and its 200-day simple moving average is $18.27.

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.