American National BankShares Inc (NASDAQ:AMNB) Short Interest Up 5.3% in January

American National BankShares Inc (NASDAQ:AMNB) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 117,200 shares, an increase of 5.3% from the January 15th total of 111,300 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 18,100 shares, the days-to-cover ratio is currently 6.5 days.

AMNB has been the subject of a number of research reports. Zacks Investment Research downgraded American National BankShares from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. BidaskClub cut American National BankShares from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 18th. Stephens reduced their price target on American National BankShares from $41.50 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, ValuEngine raised American National BankShares from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $39.00.

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in American National BankShares by 1.2% during the third quarter. State Street Corp now owns 222,308 shares of the financial services provider’s stock valued at $7,885,000 after purchasing an additional 2,575 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of American National BankShares in the third quarter valued at approximately $123,000. Bank of America Corp DE lifted its position in shares of American National BankShares by 14.2% in the second quarter. Bank of America Corp DE now owns 35,191 shares of the financial services provider’s stock valued at $1,363,000 after buying an additional 4,363 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of American National BankShares by 13.5% in the third quarter. Metropolitan Life Insurance Co NY now owns 3,635 shares of the financial services provider’s stock valued at $129,000 after buying an additional 433 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of American National BankShares by 19.4% in the third quarter. California Public Employees Retirement System now owns 19,379 shares of the financial services provider’s stock valued at $687,000 after buying an additional 3,151 shares during the last quarter. 37.96% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ AMNB opened at $36.20 on Friday. The stock has a 50 day moving average price of $37.08 and a 200 day moving average price of $36.46. American National BankShares has a 52 week low of $32.51 and a 52 week high of $41.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $394.30 million, a PE ratio of 17.83 and a beta of 1.05.

American National BankShares Company Profile

American National Bankshares Inc operates as the bank holding company for American National Bank and Trust Company that provides financial products and services. The company operates through two segments, Community Banking, and Trust and Investment Services. It accepts deposit products, including checking, money market, savings, and consumer and commercial time deposits, as well as certificates of deposit.

Further Reading: Initial Coin Offering (ICO)

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