Zacks Investment Research Downgrades American National BankShares (NASDAQ:AMNB) to Sell

Zacks Investment Research downgraded shares of American National BankShares (NASDAQ:AMNB) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

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

AMNB has been the subject of several other research reports. BidaskClub upgraded shares of SeaSpine from a strong sell rating to a sell rating in a report on Wednesday, April 24th. Raymond James downgraded shares of First Midwest Bancorp to a hold rating in a report on Monday. Finally, ValuEngine upgraded shares of Zogenix from a buy rating to a strong-buy rating in a report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $39.33.

AMNB traded down $0.37 during trading on Wednesday, hitting $37.40. 10,700 shares of the company’s stock were exchanged, compared to its average volume of 17,188. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average price is $36.15. American National BankShares has a fifty-two week low of $28.39 and a fifty-two week high of $42.45. The company has a market cap of $422.94 million, a PE ratio of 13.90 and a beta of 1.02.

American National BankShares (NASDAQ:AMNB) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.07. American National BankShares had a net margin of 27.24% and a return on equity of 10.73%. The firm had revenue of $18.52 million for the quarter, compared to the consensus estimate of $17.83 million. As a group, research analysts expect that American National BankShares will post 3.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a $0.25 dividend. The ex-dividend date was Thursday, June 6th. This represents a $1.00 annualized dividend and a dividend yield of 2.67%. American National BankShares’s dividend payout ratio is currently 37.17%.

Several hedge funds have recently made changes to their positions in AMNB. Rhumbline Advisers lifted its position in American National BankShares by 43.8% during the 4th quarter. Rhumbline Advisers now owns 11,810 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 3,599 shares during the last quarter. First Trust Advisors LP acquired a new position in American National BankShares during the 4th quarter worth $269,000. BlackRock Inc. lifted its position in American National BankShares by 3.5% during the 4th quarter. BlackRock Inc. now owns 623,737 shares of the financial services provider’s stock worth $18,280,000 after acquiring an additional 21,194 shares during the last quarter. Northern Trust Corp lifted its position in American National BankShares by 1.1% during the 4th quarter. Northern Trust Corp now owns 104,300 shares of the financial services provider’s stock worth $3,057,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in American National BankShares by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 373,505 shares of the financial services provider’s stock worth $10,947,000 after acquiring an additional 12,763 shares during the last quarter. Institutional investors own 31.52% of the company’s stock.

About American National BankShares

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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