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

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) shares gapped down before the market opened on Friday. The stock had previously closed at $2.76, but opened at $2.55. Akbank Turk Anonim Sirketi shares last traded at $2.73, with a volume of 1,411 shares trading hands.

Akbank Turk Anonim Sirketi Stock Up 0.7%

The business has a fifty day moving average of $2.85 and a 200-day moving average of $3.00. The stock has a market cap of $7.10 billion, a PE ratio of 4.55 and a beta of 0.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.07 and a quick ratio of 1.07.

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

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 by Hacı Ömer Sabancı, the bank was established in Adana to provide financing to local cotton producers and has since developed into a diversified financial institution serving retail, small and medium-sized enterprises, commercial, corporate and investment banking customers.

Akbank offers deposit accounts, consumer and business loans, credit and debit cards, payment services, foreign-exchange transactions, cash management and trade finance.