National Bankshares (NASDAQ:NKSH) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of National Bankshares (NASDAQ:NKSH) from a hold rating to a sell rating in a research note published on Friday.

Separately, Janney Montgomery Scott upgraded shares of National Bankshares from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Friday, November 22nd.

National Bankshares Trading Down 2.9 %

National Bankshares stock opened at $29.34 on Friday. The firm has a market capitalization of $186.60 million, a P/E ratio of 20.23 and a beta of 0.61. The business has a 50-day moving average of $29.82 and a 200-day moving average of $29.79. National Bankshares has a 1 year low of $26.00 and a 1 year high of $35.00.

National Bankshares (NASDAQ:NKSH) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. National Bankshares had a net margin of 11.44% and a return on equity of 5.85%. Research analysts anticipate that National Bankshares will post 1.79 EPS for the current fiscal year.

National Bankshares Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 25th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, November 25th. This is a positive change from National Bankshares’s previous semi-annual dividend of $0.55. This represents a dividend yield of 5%. National Bankshares’s payout ratio is currently 107.59%.

Institutional Trading of National Bankshares

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in shares of National Bankshares by 71.7% in the third quarter. BNP Paribas Financial Markets now owns 1,757 shares of the bank’s stock valued at $53,000 after buying an additional 734 shares during the period. Private Trust Co. NA raised its holdings in shares of National Bankshares by 16.7% during the third quarter. Private Trust Co. NA now owns 3,500 shares of the bank’s stock worth $105,000 after acquiring an additional 500 shares during the period. Eagle Ridge Investment Management bought a new stake in National Bankshares in the 3rd quarter valued at $211,000. Barclays PLC boosted its stake in National Bankshares by 290.4% in the 3rd quarter. Barclays PLC now owns 7,487 shares of the bank’s stock worth $224,000 after purchasing an additional 5,569 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in National Bankshares during the 2nd quarter worth about $226,000. 29.73% of the stock is currently owned by institutional investors and hedge funds.

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.