American National BankShares (NASDAQ:AMNB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “American National Bankshares Inc. is a one-bank holding company. “
A number of other research analysts have also weighed in on AMNB. National Bank Financial lowered American National BankShares to a “market perform” rating in a research note on Friday, October 20th. Raymond James Financial reissued a “market perform” rating on shares of American National BankShares in a research note on Friday, October 20th. BidaskClub lowered American National BankShares from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, ValuEngine raised American National BankShares from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. American National BankShares presently has an average rating of “Hold” and an average price target of $40.50.
American National BankShares (NASDAQ:AMNB) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.55 earnings per share 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 company had revenue of $18.17 million for the quarter, compared to analyst estimates of $18.02 million. analysts forecast that American National BankShares will post 2.58 EPS for the current fiscal year.
American National BankShares announced that its board has approved a share repurchase program on Friday, January 19th that permits the company to buyback 300,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, Director F D. Hornaday III sold 1,500 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $40.31, for a total transaction of $60,465.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles H. Majors sold 907 shares of the company’s stock in a transaction 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 sale, the director now owns 54,902 shares of the company’s stock, valued at $2,168,629. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,074 shares of company stock valued at $121,842. Insiders own 6.39% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of American National BankShares by 10.8% during the 1st quarter. Bank of America Corp DE now owns 2,801 shares of the financial services provider’s stock worth $104,000 after buying an additional 273 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of American National BankShares during the 2nd quarter worth $103,000. Wells Fargo & Company MN increased its holdings in shares of American National BankShares by 3.7% during the 3rd quarter. Wells Fargo & Company MN now owns 4,264 shares of the financial services provider’s stock worth $120,000 after buying an additional 154 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in American National BankShares in the 4th quarter valued at $160,000. Finally, American International Group Inc. increased its holdings in American National BankShares by 6.9% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 33.72% of the company’s stock.
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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. The Community banking segment involves making loans to and generating deposits from individuals and businesses.
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