Royal Bank of Canada Trims Stock Position in American National BankShares Inc (NASDAQ:AMNB)

Royal Bank of Canada cut its stake in American National BankShares Inc (NASDAQ:AMNB) by 14.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,100 shares of the financial services provider’s stock after selling 510 shares during the period. Royal Bank of Canada’s holdings in American National BankShares were worth $74,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. purchased a new stake in American National BankShares in the fourth quarter valued at $32,000. Citigroup Inc. lifted its position in American National BankShares by 46.0% in the first quarter. Citigroup Inc. now owns 3,154 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 993 shares during the last quarter. Victory Capital Management Inc. lifted its position in American National BankShares by 68.5% in the fourth quarter. Victory Capital Management Inc. now owns 3,218 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 1,308 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in American National BankShares by 28.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,325 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 736 shares during the last quarter. Finally, UBS Group AG lifted its position in American National BankShares by 72.9% in the fourth quarter. UBS Group AG now owns 14,093 shares of the financial services provider’s stock valued at $558,000 after acquiring an additional 5,942 shares during the last quarter. 37.40% of the stock is owned by hedge funds and other institutional investors.

Shares of American National BankShares stock opened at $21.96 on Friday. American National BankShares Inc has a 52-week low of $18.53 and a 52-week high of $40.57. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.11. The company’s 50-day simple moving average is $23.31 and its 200-day simple moving average is $27.05. The firm has a market cap of $240.68 million, a price-to-earnings ratio of 8.07 and a beta of 1.14.

American National BankShares (NASDAQ:AMNB) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. American National BankShares had a net margin of 26.67% and a return on equity of 9.56%. The business had revenue of $24.10 million for the quarter, compared to analyst estimates of $23.66 million. Equities research analysts anticipate that American National BankShares Inc will post 2.47 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, September 3rd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.92%. American National BankShares’s dividend payout ratio (DPR) is 34.84%.

AMNB has been the subject of a number of research reports. BidaskClub cut shares of American National BankShares from a “sell” rating to a “strong sell” rating in a research report on Friday, May 8th. Zacks Investment Research raised shares of American National BankShares from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Tuesday, July 28th. Raymond James reduced their target price on shares of American National BankShares from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, April 24th. ValuEngine raised shares of American National BankShares from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Stephens raised shares of American National BankShares from an “equal weight” rating to an “overweight” rating and set a $29.50 target price for the company in a report on Wednesday, April 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $29.88.

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.

Further Reading: What is meant by a buy rating?

Want to see what other hedge funds are holding AMNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American National BankShares Inc (NASDAQ:AMNB).

Institutional Ownership by Quarter for American National BankShares (NASDAQ:AMNB)

Receive News & Ratings for American National BankShares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American National BankShares and related companies with MarketBeat.com's FREE daily email newsletter.