Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) Stock Jumps 7.2% – Here’s Why

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY)’s stock price traded up 7.2% during trading on Tuesday. The company traded as high as $2.84 and last traded at $2.84. Approximately 1,637 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 14,579 shares. The stock had previously closed at $2.65.

Akbank Turk Anonim Sirketi Price Performance

The company’s 50-day simple moving average is $2.86 and its 200 day simple moving average is $3.04. 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 has a market cap of $7.38 billion, a PE ratio of 4.73 and a beta of 0.59.

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