ABN AMRO Bank (OTCMKTS:AAVMY) sees a significant drop in short-term interest


ABN AMRO Bank (OTCMKTS:AAVMY – Get Rating) benefited from a sharp drop in short-term interest rates in May. As of May 15, there was short interest totaling 6,200 shares, down 66.8% from the April 30 total of 18,700 shares. Based on an average daily trading volume of 98,400 shares, the day-to-cover ratio is currently 0.1 day.

ABN AMRO Bank shares opened at $11.32 on Thursday. ABN AMRO Bank has a 52-week low of $10.23 and a 52-week high of $17.52. The company has a 50-day moving average of $12.38 and a 200-day moving average of $13.83.

Several research analysts have recently commented on AAVMY shares. AlphaValue downgraded shares of ABN AMRO Bank to a “reduced” rating in a Wednesday, March 23 research note. Credit Suisse Group cut its price target on ABN AMRO Bank shares from €13.50 ($14.36) to €13.00 ($13.83) in a Thursday, May 19 report. Exane BNP Paribas has upgraded ABN AMRO Bank shares from an ‘underperforming’ rating to a ‘neutral’ rating and set a target price of €13.80 ($14.68) for the company in a report research on Thursday, May 19. Kepler Capital Markets upgraded ABN AMRO Bank’s shares from a “buy” to a “hold” rating in a Thursday, May 19 research report. Finally, Morgan Stanley cut its price target on ABN AMRO Bank shares from €15.00 ($15.96) to €14.00 ($14.89) and set an “equal weight” rating. on the action in a research note on Thursday, March 24. Four research analysts gave the stock a sell rating, seven issued a hold rating and two gave the company a buy rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.63.

ABN AMRO Bank Company Profile (Get a rating)

ABN AMRO Bank NV provides various banking products and services to individuals, individuals and businesses in the Netherlands and abroad. It operates through three segments: Personal & Business Banking, Wealth Management and Corporate Banking. The company offers savings and deposit products; labeled residential mortgage products under the Florius brands; and consumer loans under the Alpha Credit Nederland, Credivance, Defam, Moneyou and ABN AMRO brands.

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