American National Bankshares (AMNB) Downgraded to “Hold” at BidaskClub

BidaskClub downgraded shares of American National Bankshares (NASDAQ:AMNB) from a buy rating to a hold rating in a report published on Thursday morning.

Several other analysts have also recently issued reports on the company. Zacks Investment Research cut American National Bankshares from a buy rating to a hold rating in a research note on Friday, September 15th. National Bank Financial cut American National Bankshares to a market perform rating in a research note on Friday, October 20th. Raymond James Financial restated a market perform rating on shares of American National Bankshares in a research note on Friday, October 20th. ValuEngine upgraded American National Bankshares from a hold rating to a buy rating in a research note on Friday, September 1st. Finally, Keefe, Bruyette & Woods cut American National Bankshares from an outperform rating to a market perform rating in a research note on Wednesday, October 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $41.00.

Shares of American National Bankshares (AMNB) traded down $0.70 during midday trading on Thursday, reaching $38.20. The company’s stock had a trading volume of 7,400 shares, compared to its average volume of 13,335. American National Bankshares has a 12-month low of $33.17 and a 12-month high of $42.99. The firm has a market capitalization of $330.33, a PE ratio of 19.20 and a beta of 0.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92.

American National Bankshares (NASDAQ:AMNB) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. American National Bankshares had a return on equity of 8.39% and a net margin of 23.04%. The firm had revenue of $18.14 million for the quarter, compared to analysts’ expectations of $17.56 million. research analysts anticipate that American National Bankshares will post 2.06 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from American National Bankshares’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, November 30th. American National Bankshares’s dividend payout ratio is presently 50.25%.

In other news, Director Charles H. Majors sold 907 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $39.50, for a total transaction of $35,826.50. Following the sale, the director now directly owns 54,902 shares in the company, valued at approximately $2,168,629. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles H. Majors sold 1,800 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $39.51, for a total value of $71,118.00. Following the sale, the director now owns 55,786 shares in the company, valued at $2,204,104.86. The disclosure for this sale can be found here. Insiders have sold a total of 4,500 shares of company stock worth $179,052 over the last quarter. Insiders own 6.39% of the company’s stock.

Several institutional investors have recently made changes to their positions in AMNB. Alliancebernstein L.P. raised its position in shares of American National Bankshares by 2.4% during the 1st quarter. Alliancebernstein L.P. now owns 8,400 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 200 shares during the period. California Public Employees Retirement System raised its position in shares of American National Bankshares by 18.7% during the 1st quarter. California Public Employees Retirement System now owns 17,800 shares of the financial services provider’s stock worth $663,000 after purchasing an additional 2,800 shares during the period. Vanguard Group Inc. raised its position in shares of American National Bankshares by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 349,824 shares of the financial services provider’s stock worth $13,031,000 after purchasing an additional 10,209 shares during the period. Geode Capital Management LLC raised its position in shares of American National Bankshares by 4.4% during the 1st quarter. Geode Capital Management LLC now owns 49,093 shares of the financial services provider’s stock worth $1,828,000 after purchasing an additional 2,073 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of American National Bankshares by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 279,271 shares of the financial services provider’s stock worth $10,403,000 after purchasing an additional 12,687 shares during the period. Institutional investors and hedge funds own 33.32% of the company’s stock.

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About American National Bankshares

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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