American National BankShares (NASDAQ:AMNB) announced that its Board of Directors has approved a share repurchase program, which authorizes the company to buyback 300,000 outstanding shares on Friday, January 19th, EventVestor reports. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

A number of equities research analysts recently commented on the stock. BidaskClub lowered shares of American National BankShares from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded shares of American National BankShares from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Tuesday, January 9th. ValuEngine upgraded shares of American National BankShares from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Raymond James Financial restated a “market perform” rating on shares of American National BankShares in a report on Friday, October 20th. Finally, National Bank Financial lowered shares of American National BankShares to a “market perform” rating in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. American National BankShares currently has an average rating of “Hold” and an average target price of $40.50.

Shares of American National BankShares (NASDAQ AMNB) traded up $0.50 during trading hours on Friday, hitting $39.60. 12,700 shares of the company were exchanged, compared to its average volume of 12,387. American National BankShares has a fifty-two week low of $33.80 and a fifty-two week high of $42.99. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $346.81, a price-to-earnings ratio of 22.50 and a beta of 0.75.

American National BankShares (NASDAQ:AMNB) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01. American National BankShares had a net margin of 19.74% and a return on equity of 8.65%. The business had revenue of $18.17 million for the quarter, compared to analyst estimates of $18.02 million. equities analysts predict that American National BankShares will post 2.55 earnings per share for the current year.

In other American National BankShares news, Director Charles H. Majors sold 907 shares of American National BankShares stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $39.50, for a total value of $35,826.50. Following the sale, the director now directly owns 54,902 shares in the company, valued at approximately $2,168,629. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles H. Majors sold 1,800 shares of American National BankShares stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $39.51, for a total transaction of $71,118.00. Following the completion of the sale, the director now owns 55,786 shares in the company, valued at $2,204,104.86. The disclosure for this sale can be found here. Insiders sold a total of 4,500 shares of company stock worth $179,052 over the last quarter. Company insiders own 6.39% of the company’s stock.

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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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