Banco Comercial Portugues (OTCMKTS:BPCGY) Stock Jumps 8.5% – Here’s Why

Shares of Banco Comercial Portugues S.A. Unsponsored ADR (OTCMKTS:BPCGY) traded up 8.5% during mid-day trading on Tuesday. The company traded as high as $13.13 and last traded at $13.13. Approximately 893 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,888 shares. The stock had previously closed at $12.1050.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BPCGY shares. The Goldman Sachs Group raised Banco Comercial Portugues from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 14th. Zacks Research downgraded Banco Comercial Portugues from a “strong-buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Banco Comercial Portugues Stock Performance

The firm’s 50 day moving average is $13.39 and its two-hundred day moving average is $11.69. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 14.17 and a beta of 0.43.

About Banco Comercial Portugues

Banco Comercial Português, commonly known as Millennium bcp, is a Portuguese banking group serving individuals, businesses and institutional clients. Its services include deposit accounts, consumer and mortgage lending, payment cards, money transfers, investment and wealth management, and corporate and investment banking. Founded in 1985, the group operates primarily in Portugal. Its international activities include Poland, where it operates through Bank Millennium, and Mozambique, where it has a stake in Banco Comercial e de Investimentos.