ABN AMRO Bank (OTCMKTS:AAVMY) Sees Large Increase in Short Interest

Key Points

• Short interest rose 60.9% to 28,776 shares as of September 15, up from 17,883 shares on August 31. Despite the increase, short interest represented 0.0% of shares outstanding, with a days-to-cover ratio of 1.1.
• Analyst sentiment remains positive: ABN AMRO has an average rating of “Buy”, including one Strong Buy, six Buy, and one Hold rating.
• The stock opened at $49.69, near its 12-month high of $50.63. In its latest quarter, ABN AMRO reported EPS of $1.05 and revenue of $2.80 billion, exceeding analyst estimates.

ABN AMRO Bank (OTCMKTS:AAVMY - Get Free Report) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 28,776 shares, an increase of 60.9% from the August 31st total of 17,883 shares. Based on an average daily volume of 25,541 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. ABN Amro upgraded ABN AMRO Bank from a "neutral" rating to a "buy" rating in a research note on Tuesday, June 2nd. Citigroup reiterated a "buy" rating on shares of ABN AMRO Bank in a research report on Friday, September 18th. Morgan Stanley reissued an "overweight" rating on shares of ABN AMRO Bank in a report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of ABN AMRO Bank in a research report on Thursday, August 13th. Finally, Zacks Research raised shares of ABN AMRO Bank from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, ABN AMRO Bank currently has an average rating of "Buy".

ABN AMRO Bank Trading Down 0.6%

Shares of AAVMY opened at $49.69 on Wednesday. The stock has a market capitalization of $40.76 billion and a P/E ratio of 15.34. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 2.97. The firm has a fifty day simple moving average of $47.67 and a two-hundred day simple moving average of $41.09. ABN AMRO Bank has a twelve month low of $28.46 and a twelve month high of $50.63.

ABN AMRO Bank (OTCMKTS:AAVMY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.13. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.67 billion. ABN AMRO Bank had a return on equity of 9.12% and a net margin of 14.22%. On average, research analysts anticipate that ABN AMRO Bank will post 3.76 EPS for the current year.

ABN AMRO Bank Company Profile

ABN AMRO Bank N.V. is a Dutch financial services company headquartered in Amsterdam. The bank provides retail, private and corporate banking services, with the Netherlands as its principal market. Its offerings include current and savings accounts, mortgages, consumer lending, payment services, business financing, cash management and other financial solutions.

Through its Wealth Management business, ABN AMRO serves affluent individuals, families and institutions with investment management, financial planning and private banking services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.