Zacks Investment Research Upgrades American National BankShares (AMNB) to “Buy”

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 Tuesday. The brokerage currently has a $43.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.27% from the company’s previous close.

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

A number of other brokerages have also commented on AMNB. Keefe, Bruyette & Woods lowered American National BankShares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 4th. ValuEngine lowered American National BankShares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Raymond James Financial reiterated a “market perform” rating on shares of American National BankShares in a research report on Friday, October 20th. National Bank Financial lowered American National BankShares to a “market perform” rating in a research report on Friday, October 20th. Finally, BidaskClub lowered American National BankShares from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $41.00.

American National BankShares (AMNB) traded down $0.45 during mid-day trading on Tuesday, reaching $38.30. The company had a trading volume of 12,400 shares, compared to its average volume of 13,383. American National BankShares has a 12-month low of $33.80 and a 12-month high of $42.99. The firm has a market cap of $331.19, a PE ratio of 19.25 and a beta of 0.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.92 and a quick ratio of 0.92.

American National BankShares (NASDAQ:AMNB) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The firm had revenue of $18.14 million for the quarter, compared to analyst estimates of $17.56 million. American National BankShares had a return on equity of 8.39% and a net margin of 23.04%. equities research analysts forecast that American National BankShares will post 2.06 earnings per share for the current year.

In other news, Director F D. Hornaday III sold 1,500 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $40.31, for a total value of $60,465.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles H. Majors sold 907 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $39.50, for a total value of $35,826.50. Following the completion of the transaction, the director now owns 54,902 shares in the company, valued at $2,168,629. The disclosure for this sale can be found here. Insiders sold a total of 4,500 shares of company stock worth $179,052 over the last 90 days. 6.39% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of AMNB. Vanguard Group Inc. lifted its holdings in American National BankShares by 0.8% during the second quarter. Vanguard Group Inc. now owns 352,763 shares of the financial services provider’s stock worth $13,034,000 after acquiring an additional 2,939 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in American National BankShares by 2.4% during the third quarter. Dimensional Fund Advisors LP now owns 297,043 shares of the financial services provider’s stock worth $12,238,000 after acquiring an additional 7,043 shares in the last quarter. State Street Corp lifted its holdings in American National BankShares by 4.4% during the second quarter. State Street Corp now owns 159,630 shares of the financial services provider’s stock worth $5,899,000 after acquiring an additional 6,687 shares in the last quarter. Systematic Financial Management LP lifted its holdings in American National BankShares by 21.0% during the second quarter. Systematic Financial Management LP now owns 114,510 shares of the financial services provider’s stock worth $4,231,000 after acquiring an additional 19,885 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in American National BankShares by 20.1% during the second quarter. New York State Common Retirement Fund now owns 106,990 shares of the financial services provider’s stock worth $3,953,000 after acquiring an additional 17,889 shares in the last quarter. Institutional investors and hedge funds own 33.32% of the company’s stock.

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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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