Zacks Investment Research Downgrades American National Bankshares Inc. (AMNB) to Hold
American National Bankshares Inc. (NASDAQ:AMNB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “American National Bankshares Inc. is a one-bank holding company. “
Shares of American National Bankshares (NASDAQ:AMNB) traded up 2.04% during mid-day trading on Wednesday, hitting $27.56. 5,612 shares of the stock traded hands. The stock has a 50-day moving average of $26.75 and a 200-day moving average of $26.21. The company has a market cap of $237.26 million, a price-to-earnings ratio of 14.13 and a beta of 0.63. American National Bankshares has a 52 week low of $22.29 and a 52 week high of $28.06.
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American National Bankshares (NASDAQ:AMNB) last posted its quarterly earnings data on Thursday, July 21st. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. American National Bankshares had a net margin of 24.44% and a return on equity of 8.46%. Analysts anticipate that American National Bankshares will post $1.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.48%. The ex-dividend date was Wednesday, August 31st. American National Bankshares’s dividend payout ratio is presently 49.23%.
A number of hedge funds have recently added to or reduced their stakes in AMNB. Vanguard Group Inc. raised its stake in American National Bankshares by 7.1% in the second quarter. Vanguard Group Inc. now owns 334,459 shares of the financial services provider’s stock valued at $8,422,000 after buying an additional 22,138 shares in the last quarter. Trust Co. of Virginia VA acquired a new stake in American National Bankshares during the second quarter valued at approximately $417,000. Dimensional Fund Advisors LP raised its stake in American National Bankshares by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 252,538 shares of the financial services provider’s stock valued at $6,359,000 after buying an additional 13,466 shares in the last quarter. FCG Advisors LLC acquired a new stake in American National Bankshares during the second quarter valued at approximately $277,000. Finally, Wedge Capital Management L L P NC raised its stake in American National Bankshares by 109.1% in the second quarter. Wedge Capital Management L L P NC now owns 20,700 shares of the financial services provider’s stock valued at $521,000 after buying an additional 10,800 shares in the last quarter. 30.83% of the stock is owned by institutional investors and hedge funds.
About American National Bankshares
American National Bankshares Inc is a one-bank holding company. American National Bank and Trust Company (the Bank) is the only banking subsidiary of the Company. The Company operates through two segments: community banking, and trust and investment services. Community banking involves making loans to and generating deposits from individuals and businesses.
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