TIAA CREF Investment Management LLC lessened its position in American National Bankshares, Inc. (NASDAQ:AMNB) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,835 shares of the financial services provider’s stock after selling 1,443 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.24% of American National Bankshares worth $798,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in shares of American National Bankshares by 44.7% in the 3rd quarter. Wells Fargo & Company MN now owns 10,664 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 3,292 shares during the period. Deutsche Bank AG increased its stake in American National Bankshares by 11.9% during the 4th quarter. Deutsche Bank AG now owns 35,210 shares of the financial services provider’s stock valued at $1,348,000 after buying an additional 3,751 shares during the period. Maltese Capital Management LLC increased its stake in 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 buying an additional 60,800 shares during the period. Dimensional Fund Advisors LP increased its stake in American National Bankshares by 2.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 297,043 shares of the financial services provider’s stock valued at $12,238,000 after buying an additional 7,043 shares during the period. Finally, BlackRock Inc. increased its stake in American National Bankshares by 0.8% during the 4th quarter. BlackRock Inc. now owns 592,606 shares of the financial services provider’s stock valued at $22,697,000 after buying an additional 4,910 shares during the period. 33.71% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on AMNB shares. BidaskClub raised shares of American National Bankshares from a “hold” rating to a “buy” rating in a research note on Thursday, March 29th. Zacks Investment Research cut shares of American National Bankshares from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $40.50.
American National Bankshares stock traded up $38.20 during trading hours on Thursday, hitting $38.20. 12,400 shares of the company traded hands, compared to its average volume of 9,364. The stock has a market cap of $335.35 million, a price-to-earnings ratio of 17.08 and a beta of 0.66. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.13. American National Bankshares, Inc. has a 1-year low of $38.65 and a 1-year high of $38.90.
American National Bankshares (NASDAQ:AMNB) last released its earnings results on Thursday, April 19th. The financial services provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.06. The firm had revenue of $17.88 million for the quarter, compared to analysts’ expectations of $17.63 million. American National Bankshares had a net margin of 21.43% and a return on equity of 9.42%. research analysts expect that American National Bankshares, Inc. will post 2.63 earnings per share for the current fiscal year.
American National Bankshares declared that its Board of Directors has initiated a stock buyback program on Friday, January 19th that allows the company to repurchase 300,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director F D. Hornaday III sold 2,033 shares of American National Bankshares stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $39.25, for a total value of $79,795.25. Following the transaction, the director now owns 25,117 shares of the company’s stock, valued at approximately $985,842.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director F D. Hornaday III sold 3,742 shares of American National Bankshares stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $39.26, for a total transaction of $146,910.92. The disclosure for this sale can be found here. Insiders own 5.91% of the company’s stock.
American National Bankshares 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.
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