Suruga Bank (OTCMKTS:SUGBY) Reaches New 1-Year Low – What’s Next?

Shares of Suruga Bank Ltd. (OTCMKTS:SUGBY) reached a new 52-week low during trading on Monday. The company traded as low as $189.04 and last traded at $189.04, with a volume of 1 shares trading hands. The stock had previously closed at $192.94.

Suruga Bank Trading Down 2.0%

The stock has a market capitalization of $3.25 billion, a P/E ratio of 11.64 and a beta of -0.22. The company’s fifty day simple moving average is $86.88 and its 200 day simple moving average is $82.44.

Suruga Bank (OTCMKTS:SUGBY) last announced its earnings results on Monday, August 10th. The company reported $5.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $2.46. Suruga Bank had a net margin of 38.48% and a return on equity of 13.65%. The business had revenue of $234.94 million for the quarter, compared to the consensus estimate of $16.96 billion.

About Suruga Bank

Suruga Bank Ltd. is a regional financial institution headquartered in Numazu, Shizuoka Prefecture, Japan. The bank provides banking and financial services primarily to individuals, small businesses and local communities in Shizuoka Prefecture and neighboring areas, including parts of the greater Tokyo region.

Its services include deposit accounts, residential and other consumer lending, business loans, foreign-exchange services, investment trusts and internet banking. Suruga Bank has also developed a reputation for focusing on retail banking and specialized lending products, supported by branch-based and digital delivery channels.

The bank traces its origins to 1895 and has operated for more than a century as a community-oriented Japanese bank.