American National Bankshares (NASDAQ:AMNB) Downgraded by StockNews.com to Sell

Posted by Defense World Staff on May 5th, 2023

American National Bankshares (NASDAQ:AMNB – Get Rating) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Separately, Keefe, Bruyette & Woods reduced their price target on American National Bankshares from $38.00 to $35.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th.

American National Bankshares Trading Down 5.0 %

NASDAQ:AMNB opened at $26.36 on Friday. American National Bankshares has a twelve month low of $25.26 and a twelve month high of $38.83. 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 business has a 50 day moving average price of $30.78 and a two-hundred day moving average price of $34.41. The company has a market cap of $280.34 million, a P/E ratio of 8.11 and a beta of 0.94.

Insider Buying and Selling at American National Bankshares

In other American National Bankshares news, CEO Jeffrey V. Haley purchased 2,955 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was acquired at an average price of $31.67 per share, with a total value of $93,584.85. Following the acquisition, 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 SEC, which is accessible through the SEC website. Insiders own 3.95% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. increased its position in shares of American National Bankshares by 1.6% in the fourth quarter. Panagora Asset Management Inc. now owns 20,965 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 331 shares during the period. Royal Bank of Canada raised its stake in American National Bankshares by 5.2% during the third 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 in the last quarter. Alliancebernstein L.P. raised its stake in American National Bankshares by 4.6% during the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in American National Bankshares by 1.7% during the fourth 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 in the last quarter. Finally, Captrust Financial Advisors raised its stake in American National Bankshares by 2.9% during the fourth 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 in the last quarter. Institutional investors own 39.08% of the company’s stock.

About American National Bankshares

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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.