Banco Comercial Portugues (OTCMKTS:BPCGY) Shares Gap Up – Here’s Why

Shares of Banco Comercial Portugues S.A. Unsponsored ADR (OTCMKTS:BPCGY) gapped up prior to trading on Monday. The stock had previously closed at $13.0575, but opened at $13.51. Banco Comercial Portugues shares last traded at $13.1250, with a volume of 419 shares.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group downgraded Banco Comercial Portugues from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 8th. Zacks Research upgraded shares of Banco Comercial Portugues from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy”.

Banco Comercial Portugues Stock Performance

The firm’s 50 day moving average is $13.55 and its 200 day moving average is $12.01.

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, it has grown into one of Portugal’s leading private-sector financial institutions and is listed on Euronext Lisbon. The group provides banking and financial services to individuals, businesses, institutions and corporate clients.

Its principal activities include retail and commercial banking, consumer finance, mortgages, business lending, payments, deposits, investment banking, private banking and asset management.