BidaskClub Downgrades American National BankShares (AMNB) to Sell

American National BankShares (NASDAQ:AMNB) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other brokerages have also recently commented on AMNB. Keefe, Bruyette & Woods cut American National BankShares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 4th. ValuEngine cut American National BankShares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Raymond James Financial reissued a “market perform” rating on shares of American National BankShares in a research report on Friday, October 20th. National Bank Financial cut American National BankShares to a “market perform” rating in a research report on Friday, October 20th. Finally, Zacks Investment Research raised American National BankShares from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $40.50.

Shares of American National BankShares (NASDAQ:AMNB) traded up $0.50 on Friday, hitting $39.60. The stock had a trading volume of 12,700 shares, compared to its average volume of 9,181. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. American National BankShares has a 12-month low of $33.80 and a 12-month high of $42.99. The company has a market cap of $342.43, a PE ratio of 19.22 and a beta of 0.75.

American National BankShares (NASDAQ:AMNB) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. American National BankShares had a return on equity of 8.65% and a net margin of 19.74%. The firm had revenue of $18.17 million for the quarter, compared to analysts’ expectations of $18.02 million. sell-side analysts forecast that American National BankShares will post 2.55 EPS for the current fiscal year.

American National BankShares declared that its board has initiated a stock repurchase plan on Friday, January 19th that allows the company to repurchase 300,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, Director Charles H. Majors sold 907 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $39.50, for a total value of $35,826.50. Following the transaction, the director now directly owns 54,902 shares of the company’s stock, valued at approximately $2,168,629. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles H. Majors sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $39.51, for a total value of $71,118.00. Following the completion of the transaction, the director now directly owns 55,786 shares in the company, valued at $2,204,104.86. The disclosure for this sale can be found here. Insiders sold a total of 4,500 shares of company stock worth $179,052 over the last ninety days. 6.39% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its position in American National BankShares by 46.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 15,700 shares of the financial services provider’s stock valued at $581,000 after acquiring an additional 5,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in American National BankShares by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 290,000 shares of the financial services provider’s stock valued at $10,716,000 after acquiring an additional 10,729 shares in the last quarter. Alliancebernstein L.P. lifted its position in American National BankShares by 52.4% in the 2nd quarter. Alliancebernstein L.P. now owns 12,800 shares of the financial services provider’s stock valued at $473,000 after acquiring an additional 4,400 shares in the last quarter. Vanguard Group Inc. lifted its position in American National BankShares by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 352,763 shares of the financial services provider’s stock valued at $13,034,000 after acquiring an additional 2,939 shares in the last quarter. Finally, Maltese Capital Management LLC bought a new position in American National BankShares in the 3rd quarter valued at approximately $997,000. 33.32% of the stock is currently owned by institutional investors and hedge funds.

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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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