National Bankshares (NASDAQ:NKSH) Raised 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 sent to investors on Friday, Marketbeat reports. The firm currently has $38.00 price target on the bank’s stock.

National Bankshares Price Performance

Shares of NASDAQ:NKSH opened at $32.04 on Friday. The stock’s 50-day moving average is $30.03 and its 200 day moving average is $29.76. The company has a market cap of $203.77 million, a PE ratio of 22.10 and a beta of 0.56. National Bankshares has a 1 year low of $25.18 and a 1 year high of $37.00.

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 issued a dividend of $0.78 per share. This represents a dividend yield of 5%. The ex-dividend date is Monday, November 25th. This is an increase from National Bankshares’s previous semi-annual dividend of $0.55. National Bankshares’s dividend payout ratio is currently 100.69%.

Institutional Trading of National Bankshares

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in National Bankshares by 71.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,757 shares of the bank’s stock worth $53,000 after purchasing an additional 734 shares in the last quarter. Private Trust Co. NA increased its position 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 valued at $105,000 after buying an additional 500 shares during the period. Eagle Ridge Investment Management bought a new position in National Bankshares in the third quarter worth about $211,000. Barclays PLC lifted its holdings in National Bankshares by 290.4% in 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 during the period. Finally, Sanctuary Advisors LLC bought a new stake in National Bankshares during the 2nd quarter valued at approximately $226,000. Institutional investors 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.