American National Bankshares, Inc. (AMNB) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of American National Bankshares, Inc. (NASDAQ:AMNB) from a hold rating to a buy rating in a research note published on Monday. They currently have $43.00 price target on the financial services provider’s stock.

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

Several other equities analysts have also commented on the stock. ValuEngine lowered shares of American National Bankshares from a buy rating to a hold rating in a research report on Monday, July 24th. BidaskClub lowered shares of American National Bankshares from a hold rating to a sell rating in a research report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $39.00 price objective on shares of American National Bankshares in a research report on Thursday, July 27th.

Shares of American National Bankshares (NASDAQ:AMNB) opened at 39.35 on Monday. The company has a market capitalization of $340.06 million, a P/E ratio of 20.71 and a beta of 0.78. The firm has a 50-day moving average of $36.92 and a 200 day moving average of $36.91. American National Bankshares has a 1-year low of $26.41 and a 1-year high of $42.50.

American National Bankshares (NASDAQ:AMNB) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.49 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. The company had revenue of $17.26 million during the quarter, compared to analysts’ expectations of $16.93 million. American National Bankshares had a net margin of 22.82% and a return on equity of 8.05%. On average, analysts anticipate that American National Bankshares will post $2.01 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.96 annualized dividend and a yield of 2.44%. American National Bankshares’s dividend payout ratio (DPR) is currently 50.79%.

A number of hedge funds have recently added to or reduced their stakes in AMNB. Bank of America Corp DE lifted its position in American National Bankshares by 10.8% during the first quarter. Bank of America Corp DE now owns 2,801 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 273 shares during the last quarter. American International Group Inc. lifted its holdings in shares of American National Bankshares by 6.9% in the 1st quarter. American International Group Inc. now owns 5,049 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 328 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of American National Bankshares by 2.3% in the 1st quarter. Wells Fargo & Company MN now owns 6,974 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 159 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of American National Bankshares by 20.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,152 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 1,223 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of American National Bankshares by 12.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 7,539 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 847 shares during the last quarter. Institutional investors and hedge funds own 34.47% of the company’s stock.

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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