Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) Trading Down 8.8% – Here’s Why

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) shares dropped 8.8% during mid-day trading on Friday . The company traded as low as $2.60 and last traded at $2.60. 518 shares traded hands during trading, a decline of 97% from the average session volume of 15,260 shares. The stock had previously closed at $2.85.

Akbank Turk Anonim Sirketi Stock Down 8.8%

The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.85. The firm has a market cap of $6.76 billion, a PE ratio of 4.33 and a beta of 0.63. The stock has a fifty day simple moving average of $2.99 and a two-hundred day simple moving average of $3.31.

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. The firm had revenue of $1.40 billion for 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 21.13%.

Akbank Turk Anonim Sirketi Company Profile

Akbank Turk Anonim Sirketi is a leading Turkish banking institution headquartered in Istanbul, offering a comprehensive range of financial products and services to corporate, commercial and retail clientele. Established in 1948, the bank has built a reputation for stability and innovation in Turkey’s banking sector, serving as a key intermediary for both domestic and international customers.

The bank’s principal business activities encompass corporate and commercial lending, small and medium-sized enterprise (SME) financing, consumer and retail banking, private banking, and wealth management services.