American National BankShares (NASDAQ:AMNB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, Zacks.com reports.
According to Zacks, “American National Bankshares Inc. is a one-bank holding company. “
Other analysts also recently issued research reports about the company. Raymond James set a $40.00 price objective on American National BankShares and gave the company a “buy” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods downgraded American National BankShares from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $40.00 to $37.00 in a research report on Thursday, September 5th. BidaskClub upgraded American National BankShares from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 14th. Finally, ValuEngine downgraded American National BankShares from a “hold” rating to a “sell” rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.00.
NASDAQ:AMNB opened at $35.37 on Friday. The business has a 50 day moving average of $35.01 and a 200 day moving average of $35.72. The company has a market capitalization of $398.03 million, a price-to-earnings ratio of 13.15 and a beta of 1.06. American National BankShares has a 1-year low of $28.39 and a 1-year high of $41.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.92 and a quick ratio of 0.92.
American National BankShares (NASDAQ:AMNB) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. American National BankShares had a return on equity of 11.86% and a net margin of 18.38%. The firm had revenue of $24.79 million during the quarter, compared to the consensus estimate of $25.09 million. As a group, sell-side analysts anticipate that American National BankShares will post 2.95 EPS for the current year.
In related news, Director Franklin W. Maddux acquired 3,218 shares of the stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $35.00 per share, for a total transaction of $112,630.00. Following the completion of the transaction, the director now owns 26,028 shares of the company’s stock, valued at approximately $910,980. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Dan Miller Pleasant bought 1,000 shares of American National BankShares stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of $35.07 per share, for a total transaction of $35,070.00. Following the completion of the purchase, the director now directly owns 23,228 shares of the company’s stock, valued at approximately $814,605.96. The disclosure for this purchase can be found here. Insiders acquired 11,500 shares of company stock valued at $404,480 in the last quarter. Corporate insiders own 5.03% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of AMNB. BlackRock Inc. increased its stake in shares of American National BankShares by 20.6% during the second quarter. BlackRock Inc. now owns 740,125 shares of the financial services provider’s stock valued at $28,680,000 after buying an additional 126,431 shares during the period. Castine Capital Management LLC purchased a new position in shares of American National BankShares during the second quarter valued at approximately $3,180,000. Vanguard Group Inc. increased its stake in shares of American National BankShares by 18.5% during the second quarter. Vanguard Group Inc. now owns 422,224 shares of the financial services provider’s stock valued at $16,361,000 after buying an additional 65,897 shares during the period. Northern Trust Corp increased its stake in shares of American National BankShares by 18.7% during the second quarter. Northern Trust Corp now owns 126,408 shares of the financial services provider’s stock valued at $4,899,000 after buying an additional 19,894 shares during the period. Finally, Harbor Advisors LLC purchased a new position in shares of American National BankShares during the second quarter valued at approximately $535,000. 38.28% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading: Fundamental Analysis
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