Agri Bank China (OTCMKTS:ACGBY) Hits New 52-Week High – Should You Buy?

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

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Agri Bank China from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 31st. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Agri Bank China Price Performance

The company’s 50-day moving average price is $20.17 and its two-hundred day moving average price is $19.12. 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 company has a market capitalization of $291.19 billion, a P/E ratio of 7.20 and a beta of 0.10.

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 net margin of 21.51% and a return on equity of 9.38%. The business had revenue of $30.09 billion during 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.