Agri Bank China (OTCMKTS:ACGBY) Shares Gap Down - Time to Sell?

Key Points

• Agri Bank China shares gapped down from a prior close of $22.24 to open at $21.115, later trading at $21.06 on volume of 9,417 shares.
• Zacks Research initiated coverage with a “Hold” rating; both covering analysts now rate the stock Hold, giving it a consensus Hold rating.
• The company reported quarterly EPS of $0.93 on $30.91 billion in revenue, with a 21.51% net margin and 9.38% return on equity. Its market capitalization is approximately $294.62 billion, with a P/E ratio of 6.90.

Agri Bank China (OTCMKTS:ACGBY - Get Free Report)'s share price gapped down before the market opened on Tuesday. The stock had previously closed at $22.24, but opened at $21.1150. Agri Bank China shares last traded at $21.06, with a volume of 9,417 shares traded.

Analyst Ratings Changes

Separately, Zacks Research started coverage on Agri Bank China in a report on Tuesday, October 27th. They set a "hold" rating on the stock. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

Agri Bank China Price Performance

The stock has a market capitalization of $294.62 billion, a P/E ratio of 6.90 and a beta of 0.10. The company's 50-day simple moving average is $20.79 and its 200-day simple moving average is $18.80. 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 posted its quarterly earnings results on Friday, October 30th. The company reported $0.93 EPS for the quarter. Agri Bank China had a return on equity of 9.38% and a net margin of 21.51%. The business had revenue of $30.91 billion during the quarter. As a group, sell-side analysts expect that Agri Bank China will post 3.30 EPS for the current fiscal year.

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.

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