Banco Comercial Portugues (OTCMKTS:BPCGY) Shares Gap Down – Here’s What Happened

Shares of Banco Comercial Portugues S.A. Unsponsored ADR (OTCMKTS:BPCGY) gapped down prior to trading on Monday. The stock had previously closed at $14.5925, but opened at $12.9950. Banco Comercial Portugues shares last traded at $12.9950, with a volume of 407 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BPCGY. The Goldman Sachs Group upgraded Banco Comercial Portugues from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 14th. Zacks Research upgraded shares of Banco Comercial Portugues from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. Two analysts have rated the stock with a Strong Buy rating. Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy”.

Banco Comercial Portugues Stock Down 7.2%

The company has a market capitalization of $19.24 billion, a price-to-earnings ratio of 14.28 and a beta of 0.39. The company has a 50 day simple moving average of $13.65 and a 200 day simple moving average of $12.11.

About Banco Comercial Portugues

Banco Comercial Português, SA, operating under the Millennium bcp brand, is a Portuguese banking group headquartered in Porto, Portugal. Founded in 1985, the bank provides financial services to individuals, small and medium-sized businesses, large companies, and institutional clients.

Its activities include retail and commercial banking, corporate and investment banking, private banking, consumer finance, mortgage lending, deposits, payment services, insurance distribution, asset management, and other wealth-management services.