American National BankShares (AMNB) Upgraded to “Hold” at BidaskClub

American National BankShares (NASDAQ:AMNB) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

AMNB has been the subject of several other research reports. Raymond James Financial reiterated a “market perform” rating on shares of American National BankShares in a research report on Friday, October 20th. Zacks Investment Research upgraded American National BankShares from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Tuesday. National Bank Financial lowered American National BankShares to a “market perform” rating in a research report on Friday, October 20th. Keefe, Bruyette & Woods lowered American National BankShares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 4th. Finally, ValuEngine upgraded American National BankShares from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.50.

Shares of American National BankShares (NASDAQ:AMNB) traded up $1.00 on Thursday, hitting $39.75. The stock had a trading volume of 10,859 shares, compared to its average volume of 11,495. The firm has a market cap of $331.19, a price-to-earnings ratio of 19.97 and a beta of 0.75. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. American National BankShares has a one year low of $33.80 and a one year high of $42.99.

American National BankShares (NASDAQ:AMNB) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $18.14 million during the quarter, compared to analyst estimates of $17.56 million. American National BankShares had a return on equity of 8.39% and a net margin of 23.04%. sell-side analysts forecast that American National BankShares will post 2.06 EPS for the current year.

In related news, Director Charles H. Majors sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $39.51, for a total value of $71,118.00. Following the sale, the director now owns 55,786 shares of the company’s stock, valued at approximately $2,204,104.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Charles H. Majors sold 907 shares of the firm’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 completion of the sale, the director now directly owns 54,902 shares in the company, valued at approximately $2,168,629. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,500 shares of company stock valued at $179,052. Insiders own 6.39% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of American National BankShares by 20.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,152 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 1,223 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of American National BankShares by 5.7% in the 2nd quarter. Wells Fargo & Company MN now owns 7,372 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 398 shares during the last quarter. Macquarie Group Ltd. bought a new stake in shares of American National BankShares in the 3rd quarter worth approximately $336,000. Goldman Sachs Group Inc. lifted its holdings in shares of American National BankShares by 23.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 9,398 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 1,794 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of American National BankShares by 32.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,996 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 2,457 shares during the last quarter. 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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