National Bankshares (NASDAQ:NKSH) Rating Increased to Buy at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of National Bankshares (NASDAQ:NKSH) from a neutral rating to a buy rating in a research report report published on Friday, MarketBeat.com reports. They currently have $38.00 price target on the bank’s stock.

National Bankshares Stock Performance

Shares of NASDAQ NKSH opened at $31.98 on Friday. The firm’s 50-day simple moving average is $30.06 and its 200 day simple moving average is $29.81. The stock has a market cap of $203.42 million, a price-to-earnings ratio of 22.06 and a beta of 0.56. National Bankshares has a fifty-two week low of $25.18 and a fifty-two week high of $37.00.

National Bankshares Increases Dividend

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

Hedge Funds Weigh In On National Bankshares

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

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.