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

StockNews.com started coverage on shares of American National Bankshares (NASDAQ:AMNB) in a report released on Thursday morning. The brokerage issued a sell rating on the financial services provider’s stock.

American National Bankshares Stock Down 0.3 %

AMNB stock opened at $47.76 on Thursday. The stock’s 50 day simple moving average is $46.29 and its 200 day simple moving average is $44.47. The company has a market cap of $507.69 million, a P/E ratio of 19.49 and a beta of 0.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.86 and a current ratio of 0.86. American National Bankshares has a fifty-two week low of $25.26 and a fifty-two week high of $50.76.

American National Bankshares (NASDAQ:AMNB) last issued 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). The firm had revenue of $36.27 million for the quarter. American National Bankshares had a return on equity of 7.88% and a net margin of 18.88%. On average, research analysts expect that American National Bankshares will post 2.6 earnings per share for the current fiscal year.

American National Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Tuesday, February 20th were issued a $0.30 dividend. The ex-dividend date was Friday, February 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.51%. American National Bankshares’s dividend payout ratio is presently 48.98%.

Hedge Funds Weigh In On American National Bankshares

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

About American National Bankshares

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.