American National BankShares (NASDAQ:AMNB) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of American National BankShares (NASDAQ:AMNB) from a hold rating to a sell rating in a report released on Friday, February 16th.

Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded American National BankShares from a buy rating to a hold rating in a research note on Tuesday, February 13th. National Bank Financial downgraded 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. Finally, Raymond James Financial restated a market perform rating on shares of American National BankShares in a report on Friday, October 20th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $40.50.

American National BankShares (NASDAQ:AMNB) traded down $0.45 during midday trading on Friday, reaching $38.20. The company had a trading volume of 8,431 shares, compared to its average volume of 9,593. The company has a market cap of $335.31, a P/E ratio of 22.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. American National BankShares has a 52 week low of $34.60 and a 52 week high of $42.99.

American National BankShares (NASDAQ:AMNB) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. American National BankShares had a return on equity of 8.65% and a net margin of 19.74%. The company had revenue of $18.17 million for the quarter, compared to the consensus estimate of $18.02 million. equities research analysts anticipate that American National BankShares will post 2.58 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Thursday, March 1st. American National BankShares’s dividend payout ratio is 57.14%.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Woodard & Co. Asset Management Group Inc. ADV purchased a new stake in shares of American National BankShares during the 4th quarter worth $155,000. MetLife Investment Advisors LLC acquired a new position in American National BankShares during the 4th quarter valued at about $165,000. The Manufacturers Life Insurance Company increased its position in 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. Wells Fargo & Company MN increased its holdings in shares of American National BankShares by 5.7% in the second quarter. Wells Fargo & Company MN now owns 7,372 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 398 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in shares of American National BankShares in the third quarter valued at about $336,000. Hedge funds and other institutional investors own 33.91% of the company’s stock.

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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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