American National BankShares (NASDAQ:AMNB) Upgraded at Zacks Investment Research

American National BankShares (NASDAQ:AMNB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, January 9th. The firm presently has a $42.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 5.26% from the stock’s current price.

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

AMNB has been the subject of several other research reports. BidaskClub downgraded shares of American National BankShares from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $39.00 price target on shares of American National BankShares in a research note on Tuesday, October 3rd. ValuEngine downgraded shares of American National BankShares from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. National Bank Financial downgraded shares of American National BankShares to a “market perform” rating in a research note on Friday, October 20th. Finally, Raymond James Financial reissued a “market perform” rating on shares of American National BankShares in a research note on Friday, October 20th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $40.50.

American National BankShares (AMNB) traded up $0.35 during midday trading on Tuesday, hitting $39.90. 5,448 shares of the company traded hands, compared to its average volume of 11,309. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $345.89, a price-to-earnings ratio of 20.05 and a beta of 0.75. American National BankShares has a twelve month low of $33.80 and a twelve month high of $42.99.

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

In related news, Director Charles H. Majors sold 1,800 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $39.51, for a total transaction of $71,118.00. Following the transaction, the director now directly owns 55,786 shares of the company’s stock, valued at $2,204,104.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director F D. Hornaday III sold 1,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $40.31, for a total transaction of $60,465.00. The disclosure for this sale can be found here. Insiders sold 4,500 shares of company stock valued at $179,052 over the last 90 days. Corporate insiders own 6.39% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of American National BankShares by 0.8% during the second quarter. Vanguard Group Inc. now owns 352,763 shares of the financial services provider’s stock valued at $13,034,000 after purchasing an additional 2,939 shares in the last quarter. Dimensional Fund Advisors LP raised its position in American National BankShares by 2.4% in the third quarter. Dimensional Fund Advisors LP now owns 297,043 shares of the financial services provider’s stock worth $12,238,000 after acquiring an additional 7,043 shares during the period. State Street Corp raised its position in American National BankShares by 4.4% in the second quarter. State Street Corp now owns 159,630 shares of the financial services provider’s stock worth $5,899,000 after acquiring an additional 6,687 shares during the period. Systematic Financial Management LP raised its position in American National BankShares by 21.0% in the second quarter. Systematic Financial Management LP now owns 114,510 shares of the financial services provider’s stock worth $4,231,000 after acquiring an additional 19,885 shares during the period. Finally, New York State Common Retirement Fund raised its position in American National BankShares by 20.1% in the second quarter. New York State Common Retirement Fund now owns 106,990 shares of the financial services provider’s stock worth $3,953,000 after acquiring an additional 17,889 shares during the period. 33.32% of the stock is currently owned by institutional investors.

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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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