Agri Bank China (OTCMKTS:ACGBY) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 36.1% to 29,708 shares as of October 15, equivalent to 0.5 days of average trading volume and 0.0% of shares outstanding.
• Zacks Research initiated coverage with a “Hold” rating; both analysts covering Agri Bank China currently rate the stock Hold.
• The bank reported quarterly EPS of $0.93 on $30.91 billion in revenue, with a 21.94% net margin and 9.67% return on equity. Shares opened at $22.24, near their one-year high of $23.19.

Agri Bank China (OTCMKTS:ACGBY - Get Free Report) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 29,708 shares, a decline of 36.1% from the September 30th total of 46,511 shares. Based on an average daily volume of 62,432 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Zacks Research assumed coverage on Agri Bank China in a research report on Tuesday, October 27th. They issued a "hold" rating on the stock. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has an average rating of "Hold".

Agri Bank China Stock Performance

Shares of OTCMKTS:ACGBY opened at $22.24 on Monday. The company's 50-day moving average price is $20.76 and its two-hundred day moving average price is $18.78. The stock has a market capitalization of $311.34 billion, a PE ratio of 7.29 and a beta of 0.11. Agri Bank China has a one year low of $15.85 and a one year high of $23.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.87 and a quick ratio of 0.87.

Agri Bank China (OTCMKTS:ACGBY - Get Free Report) last issued its quarterly earnings data on Friday, October 30th. The company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $30.91 billion during the quarter. Agri Bank China had a net margin of 21.94% and a return on equity of 9.67%. On average, equities analysts forecast that Agri Bank China will post 3.30 EPS for the current fiscal year.

Agri Bank China Company Profile

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.

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