Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) Shares Gap Down – Here’s Why

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) gapped down prior to trading on Wednesday . The stock had previously closed at $2.83, but opened at $2.67. Akbank Turk Anonim Sirketi shares last traded at $2.67, with a volume of 820 shares changing hands.

Akbank Turk Anonim Sirketi Stock Performance

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $6.94 billion, a PE ratio of 4.60 and a beta of 0.60. The stock has a 50 day simple moving average of $3.00 and a two-hundred day simple moving average of $3.34.

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.49 billion. Akbank Turk Anonim Sirketi had a net margin of 7.87% and a return on equity of 21.12%.

About Akbank Turk Anonim Sirketi

Akbank Turk Anonim Sirketi is a leading Turkish banking institution headquartered in Istanbul, offering a comprehensive range of financial products and services to corporate, commercial and retail clientele. Established in 1948, the bank has built a reputation for stability and innovation in Turkey’s banking sector, serving as a key intermediary for both domestic and international customers.

The bank’s principal business activities encompass corporate and commercial lending, small and medium-sized enterprise (SME) financing, consumer and retail banking, private banking, and wealth management services.