American National Bankshares (AMNB) Downgraded to “Hold” at BidaskClub

American National Bankshares (NASDAQ:AMNB) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other research firms have also recently commented on AMNB. Zacks Investment Research raised American National Bankshares from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Monday, September 18th. ValuEngine raised American National Bankshares from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. National Bank Financial cut American National Bankshares to a “market perform” rating in a research note on Friday, October 20th. Keefe, Bruyette & Woods cut American National Bankshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 4th. Finally, Raymond James Financial reissued a “market perform” rating on shares of American National Bankshares in a research note on Friday, October 20th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $41.00.

American National Bankshares (NASDAQ:AMNB) remained flat at $$38.90 during trading on Thursday. The company’s stock had a trading volume of 13,816 shares, compared to its average volume of 13,353. The stock has a market cap of $336.38, a P/E ratio of 19.80 and a beta of 0.74. American National Bankshares has a 12-month low of $32.46 and a 12-month high of $42.99. 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 released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The firm had revenue of $18.14 million for the quarter, compared to analysts’ expectations of $17.56 million. American National Bankshares had a net margin of 23.04% and a return on equity of 8.39%. research analysts expect that American National Bankshares will post 2.06 earnings per share for the current fiscal year.

In related news, Director F D. Hornaday III sold 1,500 shares of the 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 legal filing with the SEC, which is accessible through this link. Also, Director Charles H. Majors sold 1,800 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $39.51, for a total value of $71,118.00. Following the completion of the transaction, the director now directly owns 55,786 shares in the company, valued at approximately $2,204,104.86. The disclosure for this sale can be found here. In the last three months, insiders sold 4,500 shares of company stock worth $179,052. 6.39% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted 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 buying an additional 273 shares during the period. The Manufacturers Life Insurance Company boosted its position in American National Bankshares by 20.6% during 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 buying an additional 1,223 shares during the period. Wells Fargo & Company MN boosted its position in American National Bankshares by 5.7% during the second quarter. Wells Fargo & Company MN now owns 7,372 shares of the financial services provider’s stock valued at $272,000 after buying an additional 398 shares during the period. Goldman Sachs Group Inc. purchased a new stake in American National Bankshares during the first quarter valued at about $283,000. Finally, Macquarie Group Ltd. purchased a new stake in American National Bankshares during the third quarter valued at about $336,000. 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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