Millrace Asset Group Inc. Has $1.99 Million Stock Position in American National Bankshares Inc. (NASDAQ:AMNB)

Millrace Asset Group Inc. increased its position in American National Bankshares Inc. (NASDAQ:AMNB) by 2.4% in the second quarter, Holdings Channel.com reports. The firm owned 63,849 shares of the financial services provider’s stock after acquiring an additional 1,515 shares during the period. Millrace Asset Group Inc.’s holdings in American National Bankshares were worth $1,985,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. State of Tennessee Treasury Department acquired a new position in shares of American National Bankshares during the 1st quarter worth about $65,000. Russell Investments Group Ltd. bought a new position in shares of American National Bankshares during the 1st quarter valued at about $114,000. BNP Paribas Arbitrage SA lifted its holdings in shares of American National Bankshares by 74.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,019 shares of the financial services provider’s stock valued at $166,000 after purchasing an additional 2,134 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of American National Bankshares by 7.2% during the 1st quarter. Royal Bank of Canada now owns 6,191 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 414 shares in the last quarter. Finally, Zebra Capital Management LLC bought a new position in shares of American National Bankshares during the 1st quarter valued at about $220,000. Hedge funds and other institutional investors own 37.94% of the company’s stock.

Several research firms have recently weighed in on AMNB. Zacks Investment Research upgraded American National Bankshares from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Monday, July 26th. Keefe, Bruyette & Woods upgraded American National Bankshares from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $35.00 to $37.00 in a report on Sunday, July 25th.

Shares of American National Bankshares stock traded down $0.05 on Tuesday, reaching $31.54. 127 shares of the company were exchanged, compared to its average volume of 21,273. American National Bankshares Inc. has a one year low of $19.41 and a one year high of $36.50. The company has a market capitalization of $343.03 million, a price-to-earnings ratio of 9.08 and a beta of 1.14. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $32.21 and a 200 day moving average of $33.08.

American National Bankshares (NASDAQ:AMNB) last announced its quarterly earnings data on Wednesday, July 21st. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. American National Bankshares had a return on equity of 11.20% and a net margin of 32.93%. The company had revenue of $26.91 million for the quarter, compared to analysts’ expectations of $25.66 million. Analysts predict that American National Bankshares Inc. will post 3.26 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 3rd were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Thursday, September 2nd. American National Bankshares’s dividend payout ratio is currently 39.56%.

About American National Bankshares

American National Bankshares, Inc (Virginia) is a one-bank holding company, which engages in the provision of financial products and services. It offers commercial, mortgage and consumer banking, trust and investment services, and insurance. It operates through the following segments: Community Banking, Trust and Investment Services, and Other.

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Institutional Ownership by Quarter for American National Bankshares (NASDAQ:AMNB)

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