Keefe, Bruyette & Woods Upgrades American National BankShares (AMNB) to “Outperform”

American National BankShares (NASDAQ:AMNB) was upgraded by equities research analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat.com reports. The brokerage currently has a $43.00 price objective on the financial services provider’s stock, up from their prior price objective of $41.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 17.65% from the stock’s current price.

Several other equities research analysts have also issued reports on AMNB. Zacks Investment Research upgraded shares of American National BankShares from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Monday, July 23rd. BidaskClub lowered shares of American National BankShares from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. ValuEngine lowered shares of American National BankShares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Raymond James upgraded shares of American National BankShares from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Wednesday, October 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $42.00.

Shares of AMNB stock opened at $36.55 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.87 and a debt-to-equity ratio of 0.13. American National BankShares has a 1 year low of $34.76 and a 1 year high of $42.85. The firm has a market capitalization of $317.99 million, a price-to-earnings ratio of 17.66 and a beta of 0.73.

American National BankShares (NASDAQ:AMNB) last issued its quarterly earnings results on Thursday, October 18th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). American National BankShares had a net margin of 24.19% and a return on equity of 10.56%. The business had revenue of $18.13 million during the quarter, compared to analyst estimates of $18.49 million. Research analysts expect that American National BankShares will post 2.72 EPS for the current year.

In other news, Director Franklin W. Maddux acquired 2,500 shares of the firm’s stock in a transaction dated Monday, October 22nd. The stock was bought at an average price of $37.40 per share, with a total value of $93,500.00. Following the transaction, the director now directly owns 20,402 shares in the company, valued at approximately $763,034.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders bought 3,698 shares of company stock valued at $137,072. Insiders own 5.91% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AMNB. Dimensional Fund Advisors LP grew its position in shares of American National BankShares by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 335,083 shares of the financial services provider’s stock valued at $12,599,000 after acquiring an additional 20,020 shares during the period. Millennium Management LLC bought a new position in shares of American National BankShares in the 1st quarter valued at about $518,000. Acadian Asset Management LLC grew its position in shares of American National BankShares by 225.7% in the 2nd quarter. Acadian Asset Management LLC now owns 5,022 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 3,480 shares during the period. Bessemer Group Inc. grew its position in shares of American National BankShares by 2,500.0% in the 2nd quarter. Bessemer Group Inc. now owns 5,200 shares of the financial services provider’s stock valued at $208,000 after acquiring an additional 5,000 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of American National BankShares in the 2nd quarter valued at about $137,000. 34.47% of the stock is owned by institutional investors.

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.

Featured Article: How to Invest in a Bull Market

Receive News & Ratings for American National BankShares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American National BankShares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply