ABN AMRO Bank (OTCMKTS:AAVMY) Reaches New 52-Week High - Time to Buy?

Key Points

• ABN AMRO Bank shares reached a new 52-week high, trading as high as $50.63 and closing the session at $50.46, up 1.3%.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating, with one Strong Buy, six Buy, and one Hold recommendation.
• The bank exceeded quarterly expectations, reporting $1.05 in EPS versus the $0.92 estimate and revenue of $2.80 billion versus the $2.67 billion consensus.

ABN AMRO Bank (OTCMKTS:AAVMY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $50.63 and last traded at $50.46, with a volume of 2791 shares trading hands. The stock had previously closed at $49.79.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of ABN AMRO Bank in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of ABN AMRO Bank in a research report on Thursday, August 13th. Morgan Stanley restated an "overweight" rating on shares of ABN AMRO Bank in a research note on Wednesday, September 2nd. ABN Amro raised ABN AMRO Bank from a "neutral" rating to a "buy" rating in a research report on Tuesday, June 2nd. Finally, Citigroup reiterated a "buy" rating on shares of ABN AMRO Bank in a research note on Friday. One 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 MarketBeat.com, ABN AMRO Bank has a consensus rating of "Buy".

ABN AMRO Bank Trading Up 1.3%

The company's fifty day moving average is $46.76 and its 200-day moving average is $40.21. The stock has a market cap of $41.37 billion and a PE ratio of 15.57. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.14 and a quick ratio of 1.14.

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

ABN AMRO Bank Company Profile

ABN AMRO Bank N.V. is a Netherlands-based financial institution headquartered in Amsterdam. The bank provides banking and financial services to retail, private, and corporate customers, with a primary focus on the Dutch market and selected activities in Northwest Europe.

Its services include current and savings accounts, consumer lending, mortgages, payment services, investment products, wealth management, and insurance-related solutions. For business customers, ABN AMRO offers lending, cash management, corporate finance, trade finance, capital markets, and other advisory services.

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