Zacks Investment Research Lowers American National BankShares (AMNB) to Sell

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American National BankShares (NASDAQ:AMNB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

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

A number of other research analysts have also commented on the company. Raymond James set a $38.00 price target on American National BankShares and gave the stock a “buy” rating in a report on Friday, January 18th. ValuEngine upgraded American National BankShares from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Finally, BidaskClub upgraded American National BankShares from a “sell” rating to a “hold” rating in a report on Saturday, February 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. American National BankShares presently has a consensus rating of “Hold” and a consensus target price of $38.33.

NASDAQ:AMNB traded down $0.22 on Thursday, hitting $34.32. 185 shares of the company’s stock traded hands, compared to its average volume of 10,348. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.90. American National BankShares has a 1 year low of $28.39 and a 1 year high of $42.85. The stock has a market cap of $302.57 million, a PE ratio of 12.76 and a beta of 0.94.

American National BankShares (NASDAQ:AMNB) last announced its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.03). The firm had revenue of $18.01 million during the quarter, compared to the consensus estimate of $18.73 million. American National BankShares had a net margin of 27.52% and a return on equity of 10.89%. On average, equities research analysts anticipate that American National BankShares will post 2.96 earnings per share for the current year.

In related news, EVP Hunter Gregg Strader sold 930 shares of the company’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $32.40, for a total value of $30,132.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dan Miller Pleasant bought 1,060 shares of the business’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was purchased at an average price of $32.87 per share, with a total value of $34,842.20. Following the completion of the purchase, the director now directly owns 20,155 shares of the company’s stock, valued at approximately $662,494.85. The disclosure for this purchase can be found here. Corporate insiders own 5.91% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of American National BankShares by 12.9% in the fourth quarter. Geode Capital Management LLC now owns 68,457 shares of the financial services provider’s stock valued at $2,006,000 after purchasing an additional 7,838 shares in the last quarter. Dimensional Fund Advisors LP grew its position in American National BankShares by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 373,505 shares of the financial services provider’s stock valued at $10,947,000 after acquiring an additional 12,763 shares during the period. FMR LLC grew its position in American National BankShares by 86.6% in the fourth quarter. FMR LLC now owns 114,239 shares of the financial services provider’s stock valued at $3,348,000 after acquiring an additional 53,008 shares during the period. Millennium Management LLC grew its position in American National BankShares by 53.2% in the fourth quarter. Millennium Management LLC now owns 26,999 shares of the financial services provider’s stock valued at $791,000 after acquiring an additional 9,373 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its position in American National BankShares by 380.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,202 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 2,536 shares during the period. Institutional investors and hedge funds own 38.73% of the company’s stock.

American National BankShares Company Profile

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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