Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) Shares Gap Down – What’s Next?

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) gapped down prior to trading on Wednesday . The stock had previously closed at $3.11, but opened at $2.70. Akbank Turk Anonim Sirketi shares last traded at $2.68, with a volume of 9,140 shares traded.

Akbank Turk Anonim Sirketi Stock Performance

The stock’s 50 day moving average price is $2.86 and its 200 day moving average price is $3.11. The company has a market capitalization of $6.94 billion, a P/E ratio of 4.45 and a beta of 0.63. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.07 and a current ratio of 1.07.

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Akbank Turk Anonim Sirketi had a net margin of 8.19% and a return on equity of 21.57%.

Akbank Turk Anonim Sirketi Company Profile

Akbank Türk Anonim Şirketi is a Turkey-based banking and financial services company headquartered in Istanbul. Founded in 1948, the bank provides services to individuals, businesses and institutions through a broad network of branches, digital channels and other delivery platforms.

Its principal activities include retail banking, commercial and small- and medium-sized enterprise banking, corporate and investment banking, private banking and payment services. Products and services include deposit accounts, consumer and business loans, credit and debit cards, money transfers, cash management, foreign exchange, trade finance, investment products and digital banking solutions.

Akbank primarily serves customers in Turkey and also conducts selected international activities through overseas subsidiaries, branches and representative operations.