American National Bankshares Inc. (AMNB) Sets New 1-Year High Following Insider Buying Activity
Shares of American National Bankshares Inc. (NASDAQ:AMNB) reached a new 52-week high on Tuesday after an insider bought additional shares in the company. The company traded as high as $31.05 and last traded at $30.85, with a volume of 24,919 shares trading hands. The stock had previously closed at $30.65.
Specifically, VP Ramsey K. Hamadi purchased 3,781 shares of the stock in a transaction dated Thursday, October 27th. The stock was purchased at an average price of $27.60 per share, with a total value of $104,355.60. Following the transaction, the vice president now owns 7,610 shares of the company’s stock, valued at $210,036. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Ramsey K. Hamadi purchased 2,700 shares of the stock in a transaction dated Friday, November 18th. The stock was acquired at an average cost of $30.54 per share, with a total value of $82,458.00. Following the transaction, the vice president now directly owns 15,079 shares in the company, valued at approximately $460,512.66. The disclosure for this purchase can be found here. 5.80% of the stock is currently owned by insiders.
Separately, Zacks Investment Research cut shares of American National Bankshares from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th.
The firm has a 50-day moving average price of $28.12 and a 200-day moving average price of $27.00. The company has a market cap of $265.77 million, a price-to-earnings ratio of 15.89 and a beta of 0.72.
American National Bankshares (NASDAQ:AMNB) last announced its quarterly earnings results on Thursday, October 20th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by $0.01. American National Bankshares had a net margin of 24.13% and a return on equity of 8.34%. Equities analysts predict that American National Bankshares Inc. will post $1.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.11%. The ex-dividend date is Wednesday, November 30th. American National Bankshares’s payout ratio is currently 49.74%.
Hedge funds have recently made changes to their positions in the stock. Teachers Advisors Inc. increased its position in shares of American National Bankshares by 9.9% in the second quarter. Teachers Advisors Inc. now owns 12,855 shares of the financial services provider’s stock worth $324,000 after buying an additional 1,160 shares in the last quarter. FCG Advisors LLC bought a new position in shares of American National Bankshares during the second quarter worth approximately $277,000. O Shaughnessy Asset Management LLC increased its position in shares of American National Bankshares by 0.7% in the second quarter. O Shaughnessy Asset Management LLC now owns 12,444 shares of the financial services provider’s stock worth $313,000 after buying an additional 83 shares in the last quarter. Alliancebernstein L.P. bought a new position in shares of American National Bankshares during the second quarter worth approximately $201,000. Finally, BlackRock Investment Management LLC increased its position in shares of American National Bankshares by 5.4% in the second quarter. BlackRock Investment Management LLC now owns 35,238 shares of the financial services provider’s stock worth $887,000 after buying an additional 1,811 shares in the last quarter. Hedge funds and other institutional investors own 31.26% of the company’s stock.
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. Community banking involves making loans to and generating deposits from individuals and businesses.
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