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 Wednesday, April 4th. The firm presently has a $42.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.39% from the company’s previous close.
According to Zacks, “American National Bankshares Inc. is a one-bank holding company. “
AMNB has been the topic of several other research reports. BidaskClub cut shares of American National BankShares from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 30th. ValuEngine upgraded American National BankShares from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $40.50.
Shares of American National BankShares stock opened at $38.75 on Wednesday. American National BankShares has a 52 week low of $34.60 and a 52 week high of $42.99. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $334.88, a P/E ratio of 18.74 and a beta of 0.66.
American National BankShares (NASDAQ:AMNB) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. American National BankShares had a net margin of 19.74% and a return on equity of 8.64%. The business had revenue of $18.17 million for the quarter, compared to analysts’ expectations of $18.02 million. analysts expect that American National BankShares will post 2.6 EPS for the current fiscal year.
American National BankShares declared that its board has authorized a stock repurchase plan on Friday, January 19th that permits the company to repurchase 300,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Institutional investors have recently made changes to their positions in the company. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in shares of American National BankShares during the fourth quarter worth about $155,000. MetLife Investment Advisors LLC acquired a new position in American National BankShares in the fourth quarter valued at approximately $165,000. The Manufacturers Life Insurance Company boosted its holdings in American National BankShares by 20.6% in the second quarter. The Manufacturers Life Insurance Company now owns 7,152 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 1,223 shares in the last quarter. Macquarie Group Ltd. acquired a new position in American National BankShares in the third quarter valued at approximately $336,000. Finally, Wells Fargo & Company MN lifted its stake in American National BankShares by 44.7% in the third quarter. Wells Fargo & Company MN now owns 10,664 shares of the financial services provider’s stock valued at $440,000 after buying an additional 3,292 shares during the last quarter. 33.83% of the stock is 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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