Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY) Shares Down 7.5% – Should You Sell?

Akbank Turk Anonim Sirketi (OTCMKTS:AKBTY)’s share price traded down 7.5% during mid-day trading on Thursday. The stock traded as low as $2.62 and last traded at $2.70. Approximately 10,200 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 14,682 shares. The stock had previously closed at $2.92.

Akbank Turk Anonim Sirketi Stock Up 1.1%

The stock’s fifty day moving average is $2.86 and its 200 day moving average is $3.05. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $7.15 billion, a P/E ratio of 4.58 and a beta of 0.63.

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 business had revenue of $1.40 billion for the quarter, compared to analyst estimates 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 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.