Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) Shares Gap Down – Should You Sell?

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY)’s share price gapped down before the market opened on Friday. The stock had previously closed at $2.76, but opened at $2.55. Akbank Turk Anonim Sirketi shares last traded at $2.73, with a volume of 1,411 shares traded.

Akbank Turk Anonim Sirketi Price Performance

The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 4.55 and a beta of 0.59. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.00. The stock has a fifty day moving average of $2.85 and a 200-day moving average of $3.00.

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share for the quarter, meeting 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 analysts’ expectations 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.