National Bankshares (NASDAQ:NKSH) Upgraded at StockNews.com

StockNews.com upgraded shares of National Bankshares (NASDAQ:NKSH) from a sell rating to a hold rating in a research report report published on Monday.

Separately, Janney Montgomery Scott raised National Bankshares from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a report on Friday.

National Bankshares Trading Up 2.2 %

NASDAQ:NKSH opened at $31.98 on Monday. National Bankshares has a 1-year low of $25.18 and a 1-year high of $37.00. The firm has a fifty day simple moving average of $30.06 and a 200 day simple moving average of $29.81. The stock has a market capitalization of $203.42 million, a PE ratio of 22.06 and a beta of 0.56.

National Bankshares Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be issued a dividend of $0.78 per share. This is an increase from National Bankshares’s previous semi-annual dividend of $0.55. The ex-dividend date is Monday, November 25th. This represents a yield of 5%. National Bankshares’s dividend payout ratio (DPR) is currently 107.59%.

Institutional Investors Weigh In On National Bankshares

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its holdings in National Bankshares by 71.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,757 shares of the bank’s stock valued at $53,000 after purchasing an additional 734 shares during the last quarter. Private Trust Co. NA boosted its position in shares of National Bankshares by 16.7% in the third quarter. Private Trust Co. NA now owns 3,500 shares of the bank’s stock valued at $105,000 after acquiring an additional 500 shares during the period. Eagle Ridge Investment Management bought a new stake in shares of National Bankshares in the third quarter valued at about $211,000. Barclays PLC boosted its position in shares of National Bankshares by 290.4% in the third quarter. Barclays PLC now owns 7,487 shares of the bank’s stock valued at $224,000 after acquiring an additional 5,569 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of National Bankshares in the second quarter valued at about $226,000. Institutional investors and hedge funds own 29.73% of the company’s stock.

National Bankshares Company Profile

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.