American National BankShares (NASDAQ:AMNB) announced its quarterly earnings results on Thursday. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06, Fidelity Earnings reports. American National BankShares had a net margin of 21.43% and a return on equity of 9.43%. The company had revenue of $17.88 million for the quarter, compared to analysts’ expectations of $17.63 million.
AMNB stock opened at $39.45 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13. American National BankShares has a twelve month low of $34.60 and a twelve month high of $42.99. The firm has a market cap of $340.49, a price-to-earnings ratio of 17.37 and a beta of 0.66.
Several equities research analysts recently weighed in on the stock. BidaskClub cut shares of American National BankShares from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of American National BankShares from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Wednesday, April 4th. Finally, ValuEngine upgraded shares of American National BankShares from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. American National BankShares has a consensus rating of “Buy” and a consensus target price of $40.50.
American National BankShares declared that its board has authorized a share buyback plan on Friday, January 19th that permits the company to buyback 300,000 outstanding shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
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About American National BankShares
American National Bankshares Inc is a one-bank holding company. American National Bank and Trust Company (the Bank) is the only banking subsidiary of the Company. The Company operates through two segments: community banking, and trust and investment services. The Community banking segment involves making loans to and generating deposits from individuals and businesses.
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