ABN AMRO Bank (OTCMKTS:AAVMY – Get Free Report) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $45.97, but opened at $48.66. ABN AMRO Bank shares last traded at $48.46, with a volume of 2,048 shares.
The company reported $1.05 earnings per share 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 analysts’ expectations of $2.67 billion. ABN AMRO Bank had a return on equity of 8.64% and a net margin of 13.64%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Zacks Research raised ABN AMRO Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Morgan Stanley restated an “overweight” rating on shares of ABN AMRO Bank in a research note on Thursday, May 14th. Royal Bank Of Canada reiterated an “outperform” rating on shares of ABN AMRO Bank in a research note on Friday, July 3rd. ABN Amro upgraded shares of ABN AMRO Bank from a “neutral” rating to a “buy” rating in a report on Tuesday, June 2nd. Finally, Citigroup restated a “buy” rating on shares of ABN AMRO Bank in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.
ABN AMRO Bank Stock Up 5.6%
The firm’s 50-day simple moving average is $42.97 and its 200-day simple moving average is $37.67. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market capitalization of $39.95 billion and a price-to-earnings ratio of 16.45.
ABN AMRO Bank Company Profile
ABN AMRO Bank N.V. is a leading Dutch banking institution headquartered in Amsterdam. The bank traces its origins to the 1991 merger of Algemene Bank Nederland and AMRO Bank, forming one of the Netherlands’ largest financial services providers. Over the decades, ABN AMRO has developed a comprehensive portfolio of banking and financial solutions, positioning itself as a key player in both domestic and international markets.
The bank operates across several core segments, including retail banking, private banking, commercial banking, and corporate & institutional banking.
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