Zacks Investment Research upgraded shares of American River Bankshares (NASDAQ:AMRB) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $17.00 target price on the financial services provider’s stock.
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 research analysts have also weighed in on the stock. ValuEngine upgraded shares of American River Bankshares from a hold rating to a buy rating in a report on Sunday, December 31st. FIG Partners upgraded shares of American River Bankshares from a market perform rating to an outperform rating in a report on Thursday, March 29th. Finally, Sandler O’Neill set a $16.00 price objective on shares of American River Bankshares and gave the stock a hold rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $16.50.
American River Bankshares (NASDAQ:AMRB) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). The business had revenue of $5.23 million during the quarter, compared to the consensus estimate of $5.35 million. American River Bankshares had a return on equity of 5.92% and a net margin of 14.53%. equities research analysts expect that American River Bankshares will post 0.97 earnings per share for the current year.
American River Bankshares announced that its board has approved a share buyback plan on Thursday, January 25th that permits the company to buyback 310,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, COO Kevin Bender sold 4,878 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $15.01, for a total transaction of $73,218.78. Following the completion of the sale, the chief operating officer now directly owns 13,473 shares in the company, valued at approximately $202,229.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Maltese Capital Management LLC raised its holdings in American River Bankshares by 1.3% during the 4th 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 last quarter. Dimensional Fund Advisors LP raised its holdings in American River Bankshares by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the financial services provider’s stock valued at $5,069,000 after buying an additional 7,266 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in American River Bankshares by 2.4% during the 4th 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 last quarter. Hilton Capital Management LLC raised its holdings in American River Bankshares by 83.8% during the 4th quarter. Hilton Capital Management LLC now owns 30,055 shares of the financial services provider’s stock valued at $458,000 after buying an additional 13,700 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in American River Bankshares during the 4th quarter valued at $278,000. Institutional investors 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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