Akbank T.A.S. (OTCMKTS:AKBTY) Sees Large Drop in Short Interest

Akbank T.A.S. (OTCMKTS:AKBTY) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 57,200 shares, a drop of 6.1% from the February 29th total of 60,900 shares. Based on an average trading volume of 42,900 shares, the days-to-cover ratio is currently 1.3 days.

Akbank T.A.S. Stock Up 3.8 %

Shares of AKBTY opened at $3.03 on Tuesday. The company has a market capitalization of $7.88 billion, a PE ratio of 2.26 and a beta of 0.80. Akbank T.A.S. has a 12 month low of $1.41 and a 12 month high of $3.09. The stock’s 50-day moving average price is $2.71 and its two-hundred day moving average price is $2.48. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.54.

Akbank T.A.S. Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, April 4th. Shareholders of record on Wednesday, March 27th will be issued a dividend of $0.0928 per share. The ex-dividend date is Tuesday, March 26th. Akbank T.A.S.’s payout ratio is presently 6.72%.

About Akbank T.A.S.

Akbank T.A.S., together with its subsidiaries, provides various banking products and services in Turkey and internationally. It operates through Consumer Banking and Private Banking; Commercial Banking, Corporate Banking, and SME Banking; and Treasury, Other, and Unallovated segments. The company's consumer banking services comprise deposit accounts, retail loans, commercial installment loans, credit cards, insurance products, and asset management services, as well as bank cards, investment funds trading, automatic payment, foreign currency trading, safe deposit box rental, cheques, money transfer, investment banking, and telephone and internet banking.