BidaskClub upgraded shares of American National BankShares (NASDAQ:AMNB) from a sell rating to a hold rating in a research note released on Tuesday morning.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research lowered American National BankShares from a buy rating to a hold rating in a research report on Tuesday, February 13th. ValuEngine raised American National BankShares from a hold rating to a buy rating in a research report on Sunday, December 31st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $40.50.
Shares of American National BankShares (AMNB) opened at $38.55 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $329.59, a P/E ratio of 21.71 and a beta of 0.73. American National BankShares has a 52-week low of $34.60 and a 52-week high of $42.99.
American National BankShares announced that its Board of Directors has authorized a stock buyback program on Friday, January 19th that authorizes the company to repurchase 300,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, March 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.59%. The ex-dividend date is Thursday, March 1st. American National BankShares’s dividend payout ratio is presently 57.14%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Woodard & Co. Asset Management Group Inc. ADV acquired a new stake in American National BankShares in the fourth quarter worth $155,000. MetLife Investment Advisors LLC acquired a new stake in American National BankShares in the fourth quarter worth $165,000. Deutsche Bank AG increased its position in American National BankShares by 11.9% in the fourth quarter. Deutsche Bank AG now owns 35,210 shares of the financial services provider’s stock worth $1,348,000 after buying an additional 3,751 shares during the period. BlackRock Inc. increased its position in American National BankShares by 0.8% in the fourth quarter. BlackRock Inc. now owns 592,606 shares of the financial services provider’s stock worth $22,697,000 after buying an additional 4,910 shares during the period. Finally, Wells Fargo & Company MN increased its position in American National BankShares by 31.9% in the fourth quarter. Wells Fargo & Company MN now owns 14,071 shares of the financial services provider’s stock worth $539,000 after buying an additional 3,407 shares during the period. 33.91% of the stock is currently owned by hedge funds and other institutional investors.
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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