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

Agri Bank China (OTCMKTS:ACGBY) shares saw strong trading volume on Monday . 50,363 shares changed 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup lowered Agri Bank China from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Zacks Research raised Agri Bank China from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Agri Bank China Stock Up 2.0%

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 company has a market cap of $282.37 billion, a PE ratio of 7.26 and a beta of 0.10. The business’s 50 day moving average is $18.52 and its 200-day 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.