American National Bankshares (NASDAQ:AMNB – Get Rating) had its target price cut by investment analysts at Keefe, Bruyette & Woods from $38.00 to $35.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 17.92% from the stock’s previous close.
Separately, StockNews.com lowered American National Bankshares from a “hold” rating to a “sell” rating in a research note on Thursday.
American National Bankshares Price Performance
NASDAQ:AMNB opened at $29.68 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $32.80 and its two-hundred day moving average price is $34.90. The firm has a market capitalization of $315.65 million, a price-to-earnings ratio of 9.19 and a beta of 0.94. American National Bankshares has a 12-month low of $29.44 and a 12-month high of $38.83.
Insider Buying and Selling
In related news, CEO Jeffrey V. Haley purchased 2,955 shares of American National Bankshares stock in a transaction that occurred on Tuesday, March 14th. The shares were acquired at an average price of $31.67 per share, with a total value of $93,584.85. Following the completion of the transaction, the chief executive officer now directly owns 83,620 shares of the company’s stock, valued at approximately $2,648,245.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.95% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On American National Bankshares
Hedge funds and other institutional investors have recently modified their holdings of the business. Panagora Asset Management Inc. grew its position in American National Bankshares by 1.6% during the 4th quarter. Panagora Asset Management Inc. now owns 20,965 shares of the financial services provider’s stock worth $774,000 after acquiring an additional 331 shares during the last quarter. Royal Bank of Canada grew its position in American National Bankshares by 5.2% during the 3rd quarter. Royal Bank of Canada now owns 7,426 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 367 shares during the last quarter. Alliancebernstein L.P. grew its position in American National Bankshares by 4.6% during the 4th quarter. Alliancebernstein L.P. now owns 9,100 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 400 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in American National Bankshares by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,547 shares of the financial services provider’s stock worth $1,017,000 after acquiring an additional 460 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in American National Bankshares by 2.9% during the 4th quarter. Captrust Financial Advisors now owns 20,616 shares of the financial services provider’s stock worth $761,000 after acquiring an additional 574 shares during the last quarter. Institutional investors own 39.08% of the company’s stock.
About American National Bankshares
American National Bankshares, Inc engages in the provision of financial products and services. It operates through the Community Banking and Wealth Management segments. The Community Banking segment is involved in making loans to and generating deposits from individuals and businesses. The Wealth Management segment includes estate planning, trust account administration, investment management, and retail brokerage.
Further Reading
- Get a free copy of the StockNews.com research report on American National Bankshares (AMNB)
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