American National BankShares (AMNB) Downgraded to “Sell” at BidaskClub

BidaskClub cut shares of American National BankShares (NASDAQ:AMNB) from a hold rating to a sell rating in a research note published on Friday, January 19th.

A number of other research firms have also recently issued reports on AMNB. Zacks Investment Research raised American National BankShares from a hold rating to a buy rating and set a $42.00 price objective for the company in a research report on Tuesday, January 9th. National Bank Financial cut American National BankShares to a market perform rating in a research report on Friday, October 20th. ValuEngine raised American National BankShares from a hold rating to a buy rating in a research report on Sunday, December 31st. Keefe, Bruyette & Woods cut American National BankShares from an outperform rating to a market perform rating in a research report on Wednesday, October 4th. Finally, Raymond James Financial restated a market perform rating on shares of American National BankShares in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. American National BankShares presently has an average rating of Hold and an average target price of $40.50.

Shares of American National BankShares (NASDAQ AMNB) traded up $0.20 during midday trading on Friday, hitting $37.15. The company had a trading volume of 7,516 shares, compared to its average volume of 9,323. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The firm has a market cap of $323.53, a PE ratio of 21.11 and a beta of 0.71. American National BankShares has a twelve month low of $33.80 and a twelve month high of $42.99.

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, beating analysts’ consensus estimates of $0.54 by $0.01. The business had revenue of $18.17 million for the quarter, compared to the consensus estimate of $18.02 million. American National BankShares had a return on equity of 8.65% and a net margin of 19.74%. sell-side analysts expect that American National BankShares will post 2.58 EPS for the current year.

American National BankShares announced that its board has approved a share buyback program on Friday, January 19th that allows the company to buyback 300,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other American National BankShares 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 SEC, which is available at this link. 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 transaction, 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. Over the last 90 days, insiders have sold 3,074 shares of company stock worth $121,842. 6.39% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of AMNB. The Manufacturers Life Insurance Company increased its position 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 valued at $264,000 after buying an additional 1,223 shares in the last quarter. Wells Fargo & Company MN increased its holdings in American National BankShares by 5.7% during 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 in the last quarter. Macquarie Group Ltd. bought a new position in American National BankShares during the 3rd quarter worth about $336,000. Goldman Sachs Group Inc. increased its holdings in American National BankShares by 23.6% during 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 in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in American National BankShares by 32.6% during 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 in the last quarter. 33.72% of the stock is currently owned by institutional investors.

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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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