Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) Shares Gap Up – Here’s What Happened

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) shares gapped up prior to trading on Monday. The stock had previously closed at $2.73, but opened at $2.94. Akbank Turk Anonim Sirketi shares last traded at $2.94, with a volume of 179 shares trading hands.

Akbank Turk Anonim Sirketi Price Performance

The company has a 50 day moving average of $2.86 and a 200 day moving average of $3.03. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.00. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 4.67 and a beta of 0.59.

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

About Akbank Turk Anonim Sirketi

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.