National Bankshares, Inc. (NASDAQ:NKSH) Sees Large Drop in Short Interest

National Bankshares, Inc. (NASDAQ:NKSH) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 76,500 shares, a decline of 19.2% from the May 31st total of 94,700 shares. Based on an average daily trading volume, of 15,000 shares, the days-to-cover ratio is presently 5.1 days. Approximately 1.3% of the company’s shares are sold short.

Institutional Investors Weigh In On National Bankshares

Several large investors have recently bought and sold shares of NKSH. SG Americas Securities LLC purchased a new stake in National Bankshares during the 4th quarter worth about $103,000. Eagle Ridge Investment Management purchased a new position in shares of National Bankshares in the 4th quarter valued at about $228,000. Sheaff Brock Investment Advisors LLC purchased a new position in shares of National Bankshares in the 4th quarter valued at about $209,000. rhino investment partners Inc purchased a new position in shares of National Bankshares in the 4th quarter valued at about $2,285,000. Finally, Cascade Wealth Advisors Inc purchased a new position in shares of National Bankshares in the 1st quarter valued at about $357,000. Hedge funds and other institutional investors own 29.73% of the company’s stock.

National Bankshares Trading Up 0.2 %

NKSH stock opened at $28.28 on Friday. The company has a market capitalization of $166.57 million, a PE ratio of 12.51 and a beta of 0.59. National Bankshares has a 12-month low of $22.28 and a 12-month high of $37.00. The business’s fifty day moving average price is $29.33 and its 200 day moving average price is $31.14.

National Bankshares (NASDAQ:NKSH) last issued its quarterly earnings results on Wednesday, May 15th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.06). National Bankshares had a return on equity of 10.17% and a net margin of 19.00%. The company had revenue of $10.44 million for the quarter, compared to analysts’ expectations of $10.64 million. Research analysts predict that National Bankshares will post 1.9 EPS for the current fiscal year.

National Bankshares Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, June 3rd. Shareholders of record on Tuesday, May 28th were issued a dividend of $0.73 per share. The ex-dividend date was Friday, May 24th. This represents a yield of 4.6%. National Bankshares’s dividend payout ratio (DPR) is 64.60%.

About National Bankshares

National Bankshares, Inc operates as the bank holding company for the National Bank of Blacksburg that provides retail and commercial banking products and services to individuals, businesses, non-profits, and local governments. The company accepts interest-bearing and non-interest-bearing demand deposit accounts, money market deposit accounts, savings accounts, certificates of deposit, health savings accounts, and individual retirement accounts.