Bank Hapoalim (OTCMKTS:BKHYY) Shares Gap Down Following Weak Earnings

Bank Hapoalim (OTCMKTS:BKHYY) gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $130.12, but opened at $120.66. Bank Hapoalim shares last traded at $121.00, with a volume of 1,020 shares changing hands.

The bank reported $2.41 EPS for the quarter, missing the consensus estimate of $2.92 by ($0.51). The business had revenue of $1.76 billion for the quarter. Bank Hapoalim had a net margin of 22.63% and a return on equity of 15.44%.

Wall Street Analysts Forecast Growth

Separately, Barclays lowered shares of Bank Hapoalim from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Bank Hapoalim Stock Down 1.4%

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50 day simple moving average is $125.64 and its 200 day simple moving average is $110.68. The firm has a market cap of $32.64 billion, a P/E ratio of 11.58 and a beta of 1.19.

Bank Hapoalim Company Profile

Bank Hapoalim B.M. is one of Israel’s largest banking groups, providing a broad range of financial services to retail, corporate and institutional customers. Founded in 1921 by the Histadrut labor federation, the bank has developed into a full-service financial institution offering deposit accounts, consumer and mortgage lending, credit cards, payment services, and branch-based retail banking. It also serves small and medium-sized enterprises with working capital and trade finance solutions.

In addition to traditional retail banking, Bank Hapoalim operates significant corporate and investment banking divisions.