Zacks Investment Research Upgrades American National BankShares (NASDAQ:AMNB) to “Hold”

Zacks Investment Research upgraded shares of American National BankShares (NASDAQ:AMNB) from a sell rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

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

AMNB has been the subject of several other reports. BidaskClub downgraded shares of American National BankShares from a sell rating to a strong sell rating in a research report on Wednesday, September 4th. Raymond James set a $40.00 target price on shares of American National BankShares and gave the stock a buy rating in a research report on Friday, July 19th. ValuEngine downgraded shares of American National BankShares from a hold rating to a sell rating in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods downgraded shares of American National BankShares from an outperform rating to a market perform rating and decreased their target price for the stock from $40.00 to $37.00 in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $37.00.



AMNB stock opened at $36.38 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $381.88 million, a price-to-earnings ratio of 13.52 and a beta of 1.04. American National BankShares has a 12 month low of $28.39 and a 12 month high of $41.50. The firm has a 50 day moving average of $34.94 and a two-hundred day moving average of $35.61.

American National BankShares (NASDAQ:AMNB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.18. The company had revenue of $24.67 million during the quarter, compared to the consensus estimate of $24.44 million. American National BankShares had a net margin of 16.93% and a return on equity of 11.14%. On average, research analysts expect that American National BankShares will post 2.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a dividend of $0.27 per share. This is an increase from American National BankShares’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Thursday, September 5th. American National BankShares’s dividend payout ratio is currently 40.15%.

In other news, Director Franklin W. Maddux acquired 4,282 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $35.00 per share, with a total value of $149,870.00. Following the acquisition, the director now owns 26,023 shares in the company, valued at $910,805. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dan Miller Pleasant acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average cost of $35.07 per share, with a total value of $35,070.00. Following the completion of the acquisition, the director now owns 23,228 shares in the company, valued at approximately $814,605.96. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 11,500 shares of company stock valued at $404,480. 5.03% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedge Capital Management L L P NC boosted its holdings in shares of American National BankShares by 21.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 23,168 shares of the financial services provider’s stock worth $809,000 after buying an additional 4,162 shares during the period. John W. Rosenthal Capital Management Inc. bought a new stake in shares of American National BankShares during the 1st quarter worth $262,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of American National BankShares by 11.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 17,321 shares of the financial services provider’s stock worth $605,000 after buying an additional 1,835 shares during the period. Arlington Partners LLC bought a new stake in shares of American National BankShares during the 2nd quarter worth $316,000. Finally, Eidelman Virant Capital bought a new stake in shares of American National BankShares during the 2nd quarter worth $420,000. 38.34% of the stock is owned by institutional investors and hedge funds.

About American National BankShares

American National Bankshares Inc operates as the bank holding company for American National Bank and Trust Company that provides financial products and services. The company operates through two segments, Community Banking, and Trust and Investment Services. It accepts deposit products, including checking, money market, savings, and consumer and commercial time deposits, as well as certificates of deposit.

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