American River Bankshares (NASDAQ:AMRB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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. “
A number of other equities analysts have also commented on AMRB. ValuEngine upgraded shares of American River Bankshares from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Sandler O’Neill set a $16.00 price target on shares of American River Bankshares and gave the stock a “hold” rating in a report on Thursday, January 4th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. American River Bankshares has an average rating of “Hold” and a consensus price target of $16.50.
American River Bankshares (NASDAQ:AMRB) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $5.23 million for the quarter, compared to analyst estimates of $5.35 million. American River Bankshares had a return on equity of 5.92% and a net margin of 14.53%. research analysts anticipate that American River Bankshares will post 0.96 earnings per share for the current fiscal year.
American River Bankshares declared that its board has initiated a stock repurchase plan on Thursday, January 25th that permits the company to repurchase 310,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, COO Kevin Bender sold 4,878 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $15.01, for a total value of $73,218.78. Following the transaction, the chief operating officer now owns 13,473 shares in the company, valued at $202,229.73. The transaction was disclosed in a document filed with the SEC, which is available through this link. 12.20% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Pacific Ridge Capital Partners LLC lifted its holdings in American River Bankshares by 2.4% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 260,829 shares of the financial services provider’s stock valued at $3,975,000 after buying an additional 6,140 shares during the period. Maltese Capital Management LLC lifted its holdings in American River Bankshares by 1.3% in the fourth quarter. Maltese Capital Management LLC now owns 505,354 shares of the financial services provider’s stock valued at $7,702,000 after buying an additional 6,541 shares during the period. Dimensional Fund Advisors LP lifted its holdings in American River Bankshares by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 354,059 shares of the financial services provider’s stock valued at $5,137,000 after buying an additional 10,030 shares during the period. Context BH Capital Management LP lifted its holdings in American River Bankshares by 22.0% in the third quarter. Context BH Capital Management LP now owns 22,236 shares of the financial services provider’s stock valued at $308,000 after buying an additional 4,005 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in American River Bankshares by 2.1% in the second quarter. Vanguard Group Inc. now owns 227,191 shares of the financial services provider’s stock valued at $3,296,000 after buying an additional 4,667 shares during the period. Institutional investors and hedge funds own 52.22% of the company’s stock.
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About American River Bankshares
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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