BidaskClub Downgrades American National BankShares (AMNB) to Hold

BidaskClub lowered shares of American National BankShares (NASDAQ:AMNB) from a buy rating to a hold rating in a report issued on Tuesday morning.

Separately, Zacks Investment Research lowered American National BankShares from a buy rating to a hold rating in a report on Friday, March 30th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. American National BankShares has a consensus rating of Hold and a consensus target price of $40.50.

American National BankShares stock opened at $41.45 on Tuesday. American National BankShares has a one year low of $34.95 and a one year high of $42.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $356.20 million, a PE ratio of 20.02 and a beta of 0.71.

American National BankShares (NASDAQ:AMNB) last posted its quarterly earnings results on Thursday, April 19th. The financial services provider reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.06. American National BankShares had a return on equity of 9.42% and a net margin of 21.43%. The firm had revenue of $17.88 million during the quarter, compared to analyst estimates of $17.63 million. analysts anticipate that American National BankShares will post 2.65 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. American National BankShares’s dividend payout ratio (DPR) is presently 48.31%.

In related news, Director F D. Hornaday III sold 3,742 shares of the stock in a transaction on Monday, April 30th. The stock was sold at an average price of $39.26, for a total value of $146,910.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director F D. Hornaday III sold 2,033 shares of the stock in a transaction on Friday, May 4th. The stock was sold at an average price of $39.25, for a total value of $79,795.25. Following the completion of the sale, the director now owns 25,117 shares in the company, valued at approximately $985,842.25. The disclosure for this sale can be found here. Company insiders own 5.91% of the company’s stock.

Several hedge funds have recently modified their holdings of AMNB. Woodard & Co. Asset Management Group Inc. ADV purchased a new stake in shares of American National BankShares in the fourth quarter worth $155,000. MetLife Investment Advisors LLC purchased a new stake in shares of American National BankShares in the fourth quarter worth $165,000. Millennium Management LLC purchased a new stake in shares of American National BankShares in the first quarter worth $518,000. Wells Fargo & Company MN raised its position in shares of American National BankShares by 31.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,071 shares of the financial services provider’s stock worth $539,000 after buying an additional 3,407 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of American National BankShares by 11.9% in the fourth quarter. Deutsche Bank AG now owns 35,210 shares of the financial services provider’s stock worth $1,348,000 after buying an additional 3,751 shares in the last quarter. Institutional investors own 34.41% of the company’s stock.

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.

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