Zacks Investment Research upgraded shares of American River Bankshares (NASDAQ:AMRB) from a sell rating to a hold rating in a research note released on Monday morning.
According to Zacks, “American River Bankshares is the parent company of American River Bank, a regional bank in Northern California with 10 full service branches in Sacramento, Sonoma, Placer and Amador Counties as well as two loan production offices in the San Francisco Bay Area. The Bank specializes in giving business owners more REACH by offering financial expertise and exceptional service to complement a full suite of banking products and lending solutions such as secured and unsecured lines of credit, commercial real estate loans, equipment financing, payroll and merchant card services. For more information, call (800) 544-0545 or visit AmericanRiverBank.com. “
Separately, ValuEngine upgraded American River Bankshares from a hold rating to a buy rating in a research note on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $16.00.
American River Bankshares (NASDAQ:AMRB) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). American River Bankshares had a return on equity of 6.66% and a net margin of 24.61%. The business had revenue of $5.18 million for the quarter, compared to the consensus estimate of $5.45 million. sell-side analysts anticipate that American River Bankshares will post 0.75 earnings per share for the current fiscal year.
American River Bankshares declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 19th that authorizes the company to buyback 320,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
A number of large investors have recently modified their holdings of the business. Maltese Capital Management LLC increased its position in shares of American River Bankshares by 23.5% during the 3rd quarter. Maltese Capital Management LLC now owns 498,813 shares of the financial services provider’s stock valued at $6,904,000 after purchasing an additional 95,004 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in American River Bankshares by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 354,059 shares of the financial services provider’s stock worth $5,137,000 after acquiring an additional 10,030 shares during the last quarter. Cutler Capital Management LLC purchased a new stake in American River Bankshares in the 3rd quarter worth about $138,000. JPMorgan Chase & Co. increased its holdings in American River Bankshares by 217.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,943 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 5,443 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in American River Bankshares by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 227,191 shares of the financial services provider’s stock worth $3,296,000 after acquiring an additional 4,667 shares during the last quarter. Institutional investors and hedge funds own 53.84% of the company’s stock.
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American River Bankshares Company Profile
American River Bankshares is a bank holding company. The Company’s banking subsidiary is American River Bank (the Bank). The Bank’s primary business is serving the commercial banking needs of small to mid-sized businesses. The Bank accepts checking and savings deposits; offers money market deposit accounts and certificates of deposit; makes secured and unsecured commercial loans, secured real estate loans, and other installment and term loans, and offers other customary banking services.
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