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 note released on Friday morning, Marketbeat.com reports. They currently have $38.00 target price on the bank’s stock.

National Bankshares Trading Up 4.3 %

Shares of National Bankshares stock opened at $32.04 on Friday. The firm has a market capitalization of $203.77 million, a PE ratio of 22.10 and a beta of 0.56. National Bankshares has a 12 month low of $25.18 and a 12 month high of $37.00. The business’s 50-day moving average price is $30.03 and its 200-day moving average price is $29.76.

National Bankshares Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 25th will be given a $0.78 dividend. This represents a yield of 5%. The ex-dividend date is Monday, November 25th. This is a boost from National Bankshares’s previous semi-annual dividend of $0.55. National Bankshares’s dividend payout ratio (DPR) is presently 100.69%.

Institutional Trading of National Bankshares

Several institutional investors have recently added to or reduced their stakes in NKSH. BNP Paribas Financial Markets increased 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 worth $53,000 after buying an additional 734 shares during the period. Private Trust Co. NA grew its position in National Bankshares by 16.7% during the 3rd 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 last quarter. Eagle Ridge Investment Management purchased a new position in National Bankshares in the 3rd quarter worth approximately $211,000. Barclays PLC lifted its position in 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 purchasing an additional 5,569 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of National Bankshares during the second quarter valued at approximately $226,000. 29.73% of the stock is currently owned by hedge funds and other 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.