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

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $2.99, but opened at $2.8325. Akbank Turk Anonim Sirketi shares last traded at $2.8325, with a volume of 290 shares trading hands.

Akbank Turk Anonim Sirketi Stock Down 5.3%

The firm has a market cap of $7.36 billion, a PE ratio of 4.72 and a beta of 0.63. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.07 and a current ratio of 1.07. The company’s 50-day simple moving average is $2.86 and its two-hundred day simple moving average is $3.08.

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) last issued its quarterly earnings data 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 8.19% and a return on equity of 21.57%.

About Akbank Turk Anonim Sirketi

Akbank Türk Anonim Şirketi is a Turkey-based banking and financial services company headquartered in Istanbul. Founded in 1948, the bank provides services to individuals, businesses and institutions through a broad network of branches, digital channels and other delivery platforms.

Its principal activities include retail banking, commercial and small- and medium-sized enterprise banking, corporate and investment banking, private banking and payment services. Products and services include deposit accounts, consumer and business loans, credit and debit cards, money transfers, cash management, foreign exchange, trade finance, investment products and digital banking solutions.

Akbank primarily serves customers in Turkey and also conducts selected international activities through overseas subsidiaries, branches and representative operations.