Banco Comercial Portugues (OTCMKTS:BPCGY) Sees Large Volume Increase After Analyst Upgrade

Shares of Banco Comercial Portugues S.A. Unsponsored ADR (OTCMKTS:BPCGY) saw an uptick in trading volume on Thursday after The Goldman Sachs Group upgraded the stock from a hold rating to a strong-buy rating. 4,772 shares were traded during mid-day trading, an increase of 206% from the previous session’s volume of 1,559 shares. The stock last traded at $14.5925 and had previously closed at $13.80.

Separately, Zacks Research upgraded shares of Banco Comercial Portugues from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating. According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Banco Comercial Portugues Price Performance

The stock has a market cap of $20.73 billion, a P/E ratio of 15.38 and a beta of 0.39. The stock has a 50-day simple moving average of $13.65 and a 200-day simple moving average of $12.09.

About Banco Comercial Portugues

Banco Comercial Português, SA, operating under the Millennium bcp brand, is a Portuguese banking group headquartered in Porto, Portugal. Founded in 1985, it has grown into one of Portugal’s leading private-sector financial institutions and is listed on Euronext Lisbon. The group provides banking and financial services to individuals, businesses, institutions and corporate clients.

Its principal activities include retail and commercial banking, consumer finance, mortgages, business lending, payments, deposits, investment banking, private banking and asset management.