StockNews.com Initiates Coverage on American National Bankshares (NASDAQ:AMNB)

Investment analysts at StockNews.com initiated coverage on shares of American National Bankshares (NASDAQ:AMNB) in a report issued on Thursday. The firm set a “sell” rating on the financial services provider’s stock.

American National Bankshares Trading Down 0.3 %

Shares of American National Bankshares stock opened at $47.76 on Thursday. The stock has a fifty day moving average price of $46.34 and a 200-day moving average price of $44.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $507.69 million, a PE ratio of 19.49 and a beta of 0.91. American National Bankshares has a 1 year low of $25.26 and a 1 year high of $50.76.

American National Bankshares (NASDAQ:AMNB) last released its earnings results on Tuesday, January 23rd. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). American National Bankshares had a net margin of 18.88% and a return on equity of 7.88%. The company had revenue of $36.27 million during the quarter. Equities research analysts anticipate that American National Bankshares will post 2.6 EPS for the current year.

Institutional Investors Weigh In On American National Bankshares

Several large investors have recently added to or reduced their stakes in AMNB. Raymond James Financial Services Advisors Inc. lifted its holdings in American National Bankshares by 41.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,007 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 4,388 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of American National Bankshares by 58.8% in the first quarter. MetLife Investment Management LLC now owns 6,847 shares of the financial services provider’s stock worth $258,000 after buying an additional 2,536 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in American National Bankshares by 50.4% during the first quarter. Panagora Asset Management Inc. now owns 14,897 shares of the financial services provider’s stock valued at $561,000 after buying an additional 4,990 shares during the period. Dimensional Fund Advisors LP grew its position in American National Bankshares by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 432,592 shares of the financial services provider’s stock worth $16,300,000 after buying an additional 8,302 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in American National Bankshares by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 497,312 shares of the financial services provider’s stock worth $18,738,000 after acquiring an additional 1,369 shares during the last quarter. Hedge funds and other institutional investors own 47.92% of the company’s stock.

American National Bankshares Company Profile

As of April 1, 2024, American National Bankshares Inc was acquired by Atlantic Union Bankshares Corporation. American National Bankshares Inc operates as the bank holding company for American National Bank and Trust Company that engages in the provision of financial products and services. The company operates through two segments: Community Banking and Wealth Management.