American National BankShares (NASDAQ:AMNB) announced that its board has approved a share repurchase program, which allows the company to buyback 300,000 shares on Friday, January 19th, EventVestor reports. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Shares of American National BankShares (NASDAQ:AMNB) traded up $0.95 during trading hours on Friday, reaching $36.95. 9,093 shares of the company’s stock traded hands, compared to its average volume of 8,236. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a market cap of $319.64, a PE ratio of 17.94 and a beta of 0.71. American National BankShares has a 52-week low of $33.80 and a 52-week high of $42.99.
American National BankShares (NASDAQ:AMNB) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. The company had revenue of $18.17 million for the quarter, compared to analysts’ expectations of $18.02 million. American National BankShares had a net margin of 19.74% and a return on equity of 8.65%. research analysts expect that American National BankShares will post 2.58 EPS for the current year.
A number of analysts have commented on AMNB shares. BidaskClub lowered shares of American National BankShares from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 30th. Zacks Investment Research raised shares of American National BankShares from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Tuesday, January 9th. National Bank Financial lowered shares of American National BankShares to a “market perform” rating in a report on Friday, October 20th. ValuEngine raised shares of American National BankShares from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of American National BankShares in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $40.50.
In other American National BankShares news, Director Charles H. Majors sold 907 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $39.50, for a total transaction of $35,826.50. Following the transaction, the director now owns 54,902 shares in the company, valued at approximately $2,168,629. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director F D. Hornaday III sold 1,500 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was 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. Over the last three months, insiders sold 3,074 shares of company stock worth $121,842. Insiders own 6.39% of the company’s stock.
American National BankShares Company Profile
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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