American National BankShares (AMNB) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of American National BankShares (NASDAQ:AMNB) from a hold rating to a buy rating in a report issued on Wednesday. The firm currently has $42.00 price target on the financial services provider’s stock.

According to Zacks, “American National Bankshares Inc. is a one-bank holding company. “

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Several other analysts have also recently issued reports on the stock. BidaskClub upgraded shares of American National BankShares from a sell rating to a hold rating in a research note on Thursday, January 11th. ValuEngine upgraded shares of American National BankShares from a hold rating to a buy rating in a research note on Sunday, December 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $40.50.

Shares of AMNB stock opened at $37.50 on Wednesday. The company has a market cap of $325.33, a P/E ratio of 18.12 and a beta of 0.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.89. American National BankShares has a 12 month low of $34.60 and a 12 month high of $42.99.

American National BankShares (NASDAQ:AMNB) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $18.17 million for the quarter, compared to analysts’ expectations of $18.02 million. American National BankShares had a net margin of 19.74% and a return on equity of 8.64%. research analysts forecast that American National BankShares will post 2.6 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, March 1st. American National BankShares’s dividend payout ratio is presently 48.31%.

American National BankShares announced that its board has authorized a stock buyback plan on Friday, January 19th that authorizes the company to buyback 300,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Several institutional investors have recently bought and sold shares of AMNB. The Manufacturers Life Insurance Company raised its position in shares of American National BankShares by 20.6% during 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. Raymond James Financial Services Advisors Inc. raised its position in shares of American National BankShares by 32.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 13,237 shares of the financial services provider’s stock valued at $545,000 after buying an additional 3,241 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of American National BankShares during the 3rd quarter valued at $336,000. Wells Fargo & Company MN raised its position in shares of American National BankShares by 44.7% during the 3rd quarter. Wells Fargo & Company MN now owns 10,664 shares of the financial services provider’s stock valued at $440,000 after buying an additional 3,292 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of American National BankShares by 2.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 297,043 shares of the financial services provider’s stock valued at $12,238,000 after buying an additional 7,043 shares in the last quarter. Hedge funds and other institutional investors own 33.78% of the company’s stock.

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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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