BidaskClub Lowers American National BankShares (AMNB) to Sell

BidaskClub downgraded shares of American National BankShares (NASDAQ:AMNB) from a hold rating to a sell rating in a report issued on Friday.

A number of other brokerages also recently commented on AMNB. Zacks Investment Research raised American National BankShares from a hold rating to a buy rating and set a $42.00 price target for the company in a research report on Tuesday, January 9th. 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. Keefe, Bruyette & Woods downgraded American National BankShares from an outperform rating to a market perform rating in a research report on Wednesday, October 4th. Finally, Raymond James Financial reaffirmed a market perform rating on shares of American National BankShares in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. American National BankShares currently has an average rating of Hold and a consensus target price of $40.50.

Shares of American National BankShares (NASDAQ AMNB) traded up $0.50 on Friday, hitting $39.60. The company had a trading volume of 12,700 shares, compared to its average volume of 12,387. 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 stock has a market capitalization of $346.81, a P/E ratio of 22.50 and a beta of 0.75. American National BankShares has a one year low of $33.80 and a one year high of $42.99.

American National BankShares (NASDAQ:AMNB) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $18.17 million during the quarter, compared to the consensus estimate of $18.02 million. American National BankShares had a return on equity of 4.06% and a net margin of 11.67%. sell-side analysts anticipate that American National BankShares will post 2.55 EPS for the current year.

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

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

A number of large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its position in shares of 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 purchasing an additional 1,223 shares in the last quarter. Wells Fargo & Company MN grew its position 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 in the last quarter. Macquarie Group Ltd. purchased a new position in shares of American National BankShares in the third quarter valued at $336,000. Goldman Sachs Group Inc. grew its position in shares of American National BankShares by 23.6% in the second quarter. Goldman Sachs Group Inc. now owns 9,398 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 1,794 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of American National BankShares by 32.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,996 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 2,457 shares in the last quarter. 33.32% of the stock is owned by institutional investors and hedge funds.

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American National BankShares Company Profile

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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