American National BankShares (NASDAQ:AMNB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $44.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.14% from the stock’s current price.
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. BidaskClub lowered American National BankShares from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. ValuEngine raised American National BankShares from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $41.50.
Shares of American National BankShares stock traded down $0.85 during mid-day trading on Thursday, reaching $38.55. The company’s stock had a trading volume of 4,611 shares, compared to its average volume of 9,474. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.89. American National BankShares has a 12 month low of $34.60 and a 12 month high of $42.99. The firm has a market cap of $338.35, a price-to-earnings ratio of 22.03 and a beta of 0.73.
American National BankShares (NASDAQ:AMNB) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.55 earnings per share 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 company had revenue of $18.17 million for the quarter, compared to analyst estimates of $18.02 million. sell-side analysts forecast that American National BankShares will post 2.58 earnings per share for the current fiscal year.
American National BankShares declared that its Board of Directors has approved a share buyback plan on Friday, January 19th that authorizes the company to buyback 300,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the company. Maltese Capital Management LLC increased its holdings in shares of American National BankShares by 251.2% during the 4th quarter. Maltese Capital Management LLC now owns 85,000 shares of the financial services provider’s stock valued at $3,256,000 after acquiring an additional 60,800 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of American National BankShares by 44.7% during the 3rd quarter. Wells Fargo & Company MN now owns 10,664 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 3,292 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of American National BankShares during the 3rd quarter valued at about $336,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of American National BankShares by 32.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 13,237 shares of the financial services provider’s stock valued at $545,000 after acquiring an additional 3,241 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of American National BankShares by 4.4% during the 2nd quarter. State Street Corp now owns 159,630 shares of the financial services provider’s stock valued at $5,899,000 after acquiring an additional 6,687 shares during the last quarter. 33.83% of the stock is currently owned by institutional investors and hedge funds.
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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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