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

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY)’s share price gapped down before the market opened on Friday. The stock had previously closed at $2.83, but opened at $2.58. Akbank Turk Anonim Sirketi shares last traded at $2.57, with a volume of 2,391 shares traded.

Akbank Turk Anonim Sirketi Price Performance

The company has a fifty day moving average price of $2.85 and a two-hundred day moving average price of $2.99. 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 $6.67 billion, a P/E ratio of 4.28 and a beta of 0.59.

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) last announced 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. Akbank Turk Anonim Sirketi had a return on equity of 21.57% and a net margin of 8.19%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.49 billion.

About Akbank Turk Anonim Sirketi

Akbank Türk Anonim Şirketi is a Turkey-based banking and financial services company headquartered in Istanbul. The bank provides a broad range of services to individual customers, small and medium-sized enterprises, commercial businesses, and large corporate and institutional clients.

Its offerings include deposit accounts, consumer and mortgage lending, credit and debit cards, payment services, investment products, private banking, wealth management, foreign exchange, trade finance, and corporate lending.