ABN AMRO Bank (OTCMKTS:AAVMY) Sees Large Volume Increase - Here's Why

Key Points

• ABN AMRO Bank’s trading volume rose 61% to approximately 35,224 shares, while the stock traded around $45.33.
• Analyst sentiment remained positive, with the stock receiving an average “Buy” rating from MarketBeat; ratings included one Strong Buy, five Buys and one Hold.
• The bank exceeded quarterly expectations, reporting $1.05 in earnings per share versus the $0.92 consensus estimate and revenue of $2.80 billion versus $2.67 billion expected.

Shares of ABN AMRO Bank (OTCMKTS:AAVMY - Get Free Report) saw an uptick in trading volume on Friday. Approximately 35,224 shares were traded during mid-day trading, an increase of 61% from the previous session's volume of 21,883 shares. The stock last traded at $45.3250 and had previously closed at $45.23.

Analysts Set New Price Targets

AAVMY has been the subject of several research analyst reports. Morgan Stanley reaffirmed an "overweight" rating on shares of ABN AMRO Bank in a research note on Wednesday, September 2nd. Royal Bank Of Canada reissued an "outperform" rating on shares of ABN AMRO Bank in a report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of ABN AMRO Bank in a research note on Thursday, August 13th. Zacks Research upgraded ABN AMRO Bank from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 30th. Finally, Citigroup reaffirmed a "buy" rating on shares of ABN AMRO Bank in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy".

ABN AMRO Bank Stock Performance

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 stock has a fifty day simple moving average of $48.19 and a 200-day simple moving average of $41.86. The stock has a market cap of $37.06 billion and a P/E ratio of 13.94.

ABN AMRO Bank (OTCMKTS:AAVMY - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.13. The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.67 billion. ABN AMRO Bank had a return on equity of 9.12% and a net margin of 14.22%. Equities analysts expect that ABN AMRO Bank will post 3.63 earnings per share for the current fiscal 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.