American National BankShares (AMNB) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of American National BankShares (NASDAQ:AMNB) from a buy rating to a hold rating in a report released on Monday, January 8th.

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

A number of other analysts have also weighed in on the company. Keefe, Bruyette & Woods restated a market perform rating and set a $39.00 target price on shares of American National BankShares in a report on Tuesday, October 3rd. ValuEngine downgraded American National BankShares from a buy rating to a hold rating in a research report on Tuesday, October 3rd. National Bank Financial downgraded American National BankShares to a market perform rating in a research report on Friday, October 20th. Raymond James Financial reaffirmed a market perform rating on shares of American National BankShares in a research report on Friday, October 20th. Finally, BidaskClub downgraded American National BankShares from a buy rating to a hold rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $40.50.

Shares of American National BankShares (NASDAQ:AMNB) traded down $0.75 during mid-day trading on Monday, hitting $38.85. The stock had a trading volume of 8,400 shares, compared to its average volume of 10,750. American National BankShares has a 1 year low of $33.80 and a 1 year high of $42.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $342.56, a PE ratio of 22.20 and a beta of 0.75.

American National BankShares (NASDAQ:AMNB) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ 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 return on equity of 8.65% and a net margin of 19.74%. research analysts forecast that American National BankShares will post 2.55 EPS for the current fiscal year.

American National BankShares announced that its board has initiated a stock repurchase program on Friday, January 19th that permits the company to buyback 300,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, Director F D. Hornaday III sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $40.31, for a total transaction of $60,465.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles H. Majors sold 907 shares of American National BankShares stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $39.50, for a total transaction of $35,826.50. Following the completion of the sale, the director now owns 54,902 shares of the company’s stock, valued at approximately $2,168,629. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,500 shares of company stock worth $179,052. Corporate insiders own 6.39% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its position in American National BankShares by 20.6% in the second quarter. The Manufacturers Life Insurance Company now owns 7,152 shares of the financial services provider’s stock valued at $264,000 after acquiring an additional 1,223 shares during the last quarter. Wells Fargo & Company MN increased its stake in 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. Macquarie Group Ltd. acquired a new position in shares of American National BankShares during the third quarter worth about $336,000. Goldman Sachs Group Inc. increased its stake in shares of American National BankShares by 23.6% during the second quarter. Goldman Sachs Group Inc. now owns 9,398 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 1,794 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of American National BankShares by 32.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,996 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 2,457 shares during the period. 33.32% of the stock is owned by institutional investors.

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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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