American National Bankshares, Inc. (NASDAQ:AMNB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “American National Bankshares Inc. is a one-bank holding company. “

AMNB has been the subject of several other reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $39.00 target price on shares of American National Bankshares in a research note on Thursday, July 27th. BidaskClub cut shares of American National Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, ValuEngine cut shares of American National Bankshares from a “buy” rating to a “hold” rating in a research note on Monday, July 24th.

American National Bankshares (AMNB) traded up 1.73% during mid-day trading on Friday, hitting $38.20. 42,052 shares of the stock were exchanged. The company has a 50-day moving average of $36.87 and a 200-day moving average of $36.86. The stock has a market capitalization of $330.12 million, a PE ratio of 20.11 and a beta of 0.78. American National Bankshares has a 52 week low of $26.39 and a 52 week high of $42.50.

American National Bankshares (NASDAQ:AMNB) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.49. The firm had revenue of $17.26 million during the quarter, compared to analysts’ expectations of $16.93 million. American National Bankshares had a net margin of 22.82% and a return on equity of 8.05%. On average, equities analysts predict that American National Bankshares will post $2.01 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in American National Bankshares by 10.8% during the first quarter. Bank of America Corp DE now owns 2,801 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 273 shares during the last quarter. American International Group Inc. lifted its position in American National Bankshares by 6.9% during the first quarter. American International Group Inc. now owns 5,049 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 328 shares during the last quarter. Wells Fargo & Company MN lifted its position in American National Bankshares by 2.3% during the first quarter. Wells Fargo & Company MN now owns 6,974 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 159 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in American National Bankshares by 20.6% during the second quarter. The Manufacturers Life Insurance Company now owns 7,152 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 1,223 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in American National Bankshares by 12.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,539 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 847 shares during the last quarter. Institutional investors and hedge funds own 34.47% of the company’s stock.

American National Bankshares Company Profile

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. The Community banking segment involves making loans to and generating deposits from individuals and businesses.

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