National Bankshares (NASDAQ:NKSH) Upgraded by StockNews.com to Hold Rating

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

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

National Bankshares Stock Up 0.8 %

Shares of NKSH stock opened at $31.82 on Monday. National Bankshares has a 12-month low of $25.18 and a 12-month high of $37.00. The company has a market capitalization of $202.38 million, a PE ratio of 21.94 and a beta of 0.56. The firm has a 50 day moving average price of $30.20 and a two-hundred day moving average price of $29.86.

National Bankshares Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be given a dividend of $0.78 per share. This represents a dividend yield of 5%. The ex-dividend date is Monday, November 25th. This is a positive change from National Bankshares’s previous semi-annual dividend of $0.55. National Bankshares’s dividend payout ratio is presently 107.59%.

Institutional Investors Weigh In On National Bankshares

Several institutional investors have recently made changes to their positions in NKSH. Brandes Investment Partners LP increased its stake in National Bankshares by 14.4% during the 2nd quarter. Brandes Investment Partners LP now owns 135,937 shares of the bank’s stock worth $3,839,000 after acquiring an additional 17,149 shares during the period. Sanctuary Advisors LLC bought a new position in shares of National Bankshares in the second quarter worth $226,000. Eagle Ridge Investment Management acquired a new position in National Bankshares in the third quarter valued at about $211,000. Geode Capital Management LLC lifted its position in National Bankshares by 4.5% during the third quarter. Geode Capital Management LLC now owns 138,246 shares of the bank’s stock worth $4,134,000 after purchasing an additional 5,975 shares during the period. Finally, Barclays PLC grew its stake in National Bankshares by 290.4% during the third 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. 29.73% of the stock is currently owned by institutional investors.

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.