Short-term stake in Agricultural Bank of China Limited (OTCMKTS:ACGBY) drops 41.4%

Agricultural Bank of China Limited (OTCMKTS:ACGBY – Get a rating) saw a significant drop in short-term interest rates in September. As of September 30, there was selling interest totaling 18,100 shares, down 41.4% from the September 15 total of 30,900 shares. Based on an average daily volume of 353,600 shares, the day-to-cover ratio is currently 0.1 day.

Wall Street analysts predict growth

Separately, Goldman Sachs Group upgraded shares of the Agricultural Bank of China from a “sell” rating to a “neutral” rating in a Wednesday, July 20 research note.

Agricultural Bank of China price performance

ACGBY shares traded down $0.04 in Thursday’s midday session, hitting $7.36. The stock recorded a trading volume of 262,655 shares, against an average volume of 177,666. The Agricultural Bank of China has a 1-year low of $7.30 and a 1-year high of 10.03 $. The company has a market capitalization of $104.57 billion, a PE ratio of 2.91 and a beta of 0.33. The stock’s 50-day moving average is $7.89 and its 200-day moving average is $8.70.

Agricultural Bank of China (OTCMKTS:ACGBY – Get a rating) last released its quarterly results on Monday, August 29. The company reported earnings per share (EPS) of $0.57 for the quarter. The company had revenue of $25.79 billion in the quarter. The Agricultural Bank of China posted a net margin of 21.12% and a return on equity of 10.82%.

About Agricultural Bank of China

(Get a rating)

Agricultural Bank of China Limited provides corporate and personal banking products and services. The Company operates through Corporate Banking, Personal Banking and Treasury Operations segments. It offers Demand, Personal Call, Foreign Currency Time, Foreign Currency Call, Optional Time or Demand, Foreign Currency Demand, Foreign Currency Call, Foreign Currency Time, Certificates of deposit, savings, agreed term and negotiated deposits; and loans include housing, consumer, business, fixed assets, working capital, real estate and entrusted syndicated loans, as well as trade finance, guarantees and covenants and custodial loans of patronage accounts on export.

Recommended Stories

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider the Agricultural Bank of China, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market ripples…and Agricultural Bank of China was not on the list.

While the Agricultural Bank of China currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

About Edward Fries

Check Also

Arrow Financial Co. (NASDAQ:AROW) Brief Interest Update

Arrow Financial Co. (NASDAQ: AROW – Get a rating) was the target of a sharp …