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

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

American National Bankshares Stock Performance

American National Bankshares stock opened at $47.76 on Thursday. The firm has a 50 day simple moving average of $46.22 and a 200-day simple moving average of $44.45. American National Bankshares has a 1-year low of $25.26 and a 1-year high of $50.76. 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 stock has a market cap of $507.69 million, a price-to-earnings ratio of 19.49 and a beta of 0.91.

American National Bankshares (NASDAQ:AMNB) last posted its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $36.27 million during the quarter. On average, analysts expect that American National Bankshares will post 2.6 EPS for the current year.

Insider Transactions at American National Bankshares

In other American National Bankshares news, EVP Jeffrey W. Farrar sold 651 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $47.03, for a total transaction of $30,616.53. Following the sale, the executive vice president now directly owns 9,887 shares in the company, valued at approximately $464,985.61. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Rhonda P. Joyce sold 630 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $47.03, for a total value of $29,628.90. Following the transaction, the senior vice president now directly owns 16,688 shares of the company’s stock, valued at approximately $784,836.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey W. Farrar sold 651 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $47.03, for a total transaction of $30,616.53. Following the completion of the transaction, the executive vice president now directly owns 9,887 shares in the company, valued at $464,985.61. The disclosure for this sale can be found here. Company insiders own 4.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Trust Co of the South purchased a new position in American National Bankshares during the 1st quarter worth $883,000. Vanguard Group Inc. lifted its stake in shares of American National Bankshares by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 519,529 shares of the financial services provider’s stock worth $25,327,000 after acquiring an additional 17,899 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of American National Bankshares in the 4th quarter worth $442,000. Barclays PLC boosted its holdings in shares of American National Bankshares by 697.3% in the fourth quarter. Barclays PLC now owns 14,064 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 12,300 shares in the last quarter. Finally, Voya Investment Management LLC purchased a new stake in shares of American National Bankshares in the fourth quarter valued at about $246,000. 47.92% of the stock is owned by hedge funds and other institutional investors.

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.