American National BankShares (AMNB) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of American National BankShares (NASDAQ:AMNB) from a buy rating to a hold rating in a report released on Friday morning.

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

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Several other research analysts have also issued reports on AMNB. BidaskClub upgraded American National BankShares from a hold rating to a buy rating in a research note on Thursday. ValuEngine upgraded American National BankShares from a hold rating to a buy rating in a research note on Sunday, December 31st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $41.00.

American National BankShares stock opened at $37.60 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.88. American National BankShares has a 52-week low of $34.60 and a 52-week high of $42.99. The firm has a market cap of $326.20, a price-to-earnings ratio of 18.16 and a beta of 0.73.

American National BankShares (NASDAQ:AMNB) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01. American National BankShares had a return on equity of 8.64% and a net margin of 19.74%. The firm had revenue of $18.17 million during the quarter, compared to analyst estimates of $18.02 million. equities analysts anticipate that American National BankShares will post 2.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Thursday, March 1st. American National BankShares’s payout ratio is presently 48.31%.

American National BankShares announced that its Board of Directors has approved a stock repurchase program on Friday, January 19th that allows the company to buyback 300,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Several hedge funds have recently made changes to their positions in the company. Woodard & Co. Asset Management Group Inc. ADV bought a new stake in shares of American National BankShares during the fourth quarter worth $155,000. MetLife Investment Advisors LLC bought a new stake in shares of American National BankShares during the fourth quarter worth $165,000. Deutsche Bank AG grew its holdings in shares of American National BankShares by 11.9% during the fourth quarter. Deutsche Bank AG now owns 35,210 shares of the financial services provider’s stock worth $1,348,000 after purchasing an additional 3,751 shares during the last quarter. BlackRock Inc. grew its holdings in shares of American National BankShares by 0.8% during the fourth quarter. BlackRock Inc. now owns 592,606 shares of the financial services provider’s stock worth $22,697,000 after purchasing an additional 4,910 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of American National BankShares by 31.9% during the fourth quarter. Wells Fargo & Company MN now owns 14,071 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 3,407 shares during the last quarter. Institutional investors own 33.78% 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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