American National BankShares (AMNB) Rating Increased to Buy at Zacks Investment Research

American National BankShares (NASDAQ:AMNB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $44.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 18.28% from the stock’s current price.

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

AMNB has been the topic of a number of other reports. BidaskClub raised shares of American National BankShares from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 7th. ValuEngine raised shares of American National BankShares from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.50.

Shares of American National BankShares stock opened at $37.20 on Thursday. American National BankShares has a 52-week low of $34.60 and a 52-week high of $42.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market cap of $341.82, a P/E ratio of 21.34 and a beta of 0.73.

American National BankShares (NASDAQ:AMNB) last announced its quarterly earnings data 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. American National BankShares had a net margin of 19.74% and a return on equity of 8.64%. The company had revenue of $18.17 million for the quarter, compared to the consensus estimate of $18.02 million. equities research analysts anticipate that American National BankShares will post 2.58 earnings per share for the current year.

American National BankShares declared that its board has approved a share buyback plan on Friday, January 19th that authorizes the company to repurchase 300,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Maltese Capital Management LLC grew its position in shares of American National BankShares by 251.2% in the 4th quarter. Maltese Capital Management LLC now owns 85,000 shares of the financial services provider’s stock valued at $3,256,000 after buying an additional 60,800 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of American National BankShares by 44.7% in the 3rd quarter. Wells Fargo & Company MN now owns 10,664 shares of the financial services provider’s stock valued at $440,000 after buying an additional 3,292 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of American National BankShares in the 3rd quarter valued at $336,000. Raymond James Financial Services Advisors Inc. grew its position in shares of American National BankShares by 32.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 13,237 shares of the financial services provider’s stock valued at $545,000 after buying an additional 3,241 shares during the last quarter. Finally, State Street Corp grew its position in shares of American National BankShares by 4.4% in the 2nd quarter. State Street Corp now owns 159,630 shares of the financial services provider’s stock valued at $5,899,000 after buying an additional 6,687 shares during the last quarter. 33.83% of the stock is currently owned by hedge funds and other institutional investors.

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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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