Zacks Research Upgrades Agri Bank China (OTCMKTS:ACGBY) to "Hold"

Key Points

• Zacks Research upgraded Agri Bank China (OTCMKTS:ACGBY) to a "hold"; the stock opened at $19.68 and is trading above its 50‑day and 200‑day moving averages (≈$17.60 and $17.99) and near its 12‑month high of $21.00.
• Solid fundamentals: market cap $275.51 billion, P/E 7.26, last quarter EPS $0.67 on $24.59 billion revenue, with a net margin of 21.45% and ROE of 9.35%; analysts expect ~3.02 EPS for the current fiscal year.
• Agricultural Bank of China is a major state‑owned commercial bank based in Beijing with a large domestic branch network that serves agricultural, rural, corporate and retail clients and offers a full range of banking services.

Agri Bank China (OTCMKTS:ACGBY - Get Free Report) was upgraded by stock analysts at Zacks Research to a "hold" rating in a report issued on Thursday,Zacks.com reports.

Agri Bank China Price Performance

ACGBY opened at $19.68 on Thursday. The company has a fifty day simple moving average of $17.60 and a 200 day simple moving average of $17.99. The firm has a market cap of $275.51 billion, a price-to-earnings ratio of 7.26 and a beta of 0.03. Agri Bank China has a twelve month low of $14.62 and a twelve month high of $21.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.02.

Agri Bank China (OTCMKTS:ACGBY - Get Free Report) last released its quarterly earnings results on Monday, March 30th. The company reported $0.67 earnings per share for the quarter. The business had revenue of $24.59 billion during the quarter. Agri Bank China had a net margin of 21.45% and a return on equity of 9.35%. Equities research analysts expect that Agri Bank China will post 3.02 EPS for the current fiscal year.

About Agri Bank China

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.