American River Bankshares (AMRB) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of American River Bankshares (NASDAQ:AMRB) from a buy rating to a hold rating in a report released on Tuesday.

According to Zacks, “American River Bankshares is the parent company of American River Bank, a regional bank in Northern California with 10 full service branches in Sacramento, Sonoma, Placer and Amador Counties as well as two loan production offices in the San Francisco Bay Area. The Bank specializes in giving business owners more REACH by offering financial expertise and exceptional service to complement a full suite of banking products and lending solutions such as secured and unsecured lines of credit, commercial real estate loans, equipment financing, payroll and merchant card services. For more information, call (800) 544-0545 or visit AmericanRiverBank.com. “

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Other equities research analysts have also issued reports about the company. ValuEngine upgraded American River Bankshares from a hold rating to a buy rating in a research note on Sunday, December 31st. Sandler O’Neill set a $16.00 price objective on American River Bankshares and gave the stock a hold rating in a research note on Thursday, January 4th. Finally, FIG Partners upgraded American River Bankshares from a market perform rating to an outperform rating in a research note on Thursday, March 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. American River Bankshares has a consensus rating of Hold and an average target price of $16.50.

NASDAQ:AMRB opened at $15.50 on Tuesday. American River Bankshares has a 12 month low of $12.21 and a 12 month high of $16.49. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.16. The company has a market cap of $93.79, a price-to-earnings ratio of 20.95 and a beta of 0.29.

American River Bankshares (NASDAQ:AMRB) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.01). American River Bankshares had a return on equity of 5.92% and a net margin of 14.53%. The firm had revenue of $5.23 million for the quarter, compared to analysts’ expectations of $5.35 million. equities research analysts forecast that American River Bankshares will post 0.97 earnings per share for the current year.

American River Bankshares announced that its board has initiated a share repurchase plan on Thursday, January 25th that authorizes the company to repurchase 310,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, COO Kevin Bender sold 4,878 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $15.01, for a total value of $73,218.78. Following the completion of the sale, the chief operating officer now directly owns 13,473 shares in the company, valued at $202,229.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.50% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of AMRB. LPL Financial LLC purchased a new stake in shares of American River Bankshares in the fourth quarter valued at approximately $278,000. Hilton Capital Management LLC grew its position in shares of American River Bankshares by 83.8% in the fourth quarter. Hilton Capital Management LLC now owns 30,055 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 13,700 shares in the last quarter. Vanguard Group Inc. grew its position in shares of American River Bankshares by 2.1% in the second quarter. Vanguard Group Inc. now owns 227,191 shares of the financial services provider’s stock valued at $3,296,000 after purchasing an additional 4,667 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its position in shares of American River Bankshares by 2.4% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 260,829 shares of the financial services provider’s stock valued at $3,975,000 after purchasing an additional 6,140 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of American River Bankshares by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the financial services provider’s stock valued at $5,069,000 after purchasing an additional 7,266 shares in the last quarter. Institutional investors and hedge funds own 52.22% of the company’s stock.

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About American River Bankshares

American River Bankshares is a bank holding company. The Company’s banking subsidiary is American River Bank (the Bank). The Bank’s primary business is serving the commercial banking needs of small to mid-sized businesses. The Bank accepts checking and savings deposits; offers money market deposit accounts and certificates of deposit; makes secured and unsecured commercial loans, secured real estate loans, and other installment and term loans, and offers other customary banking services.

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