National Bankshares, Inc. (NASDAQ:NKSH) Sees Large Decline in Short Interest

National Bankshares, Inc. (NASDAQ:NKSH) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 49,800 shares, a decrease of 19.2% from the August 31st total of 61,600 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily trading volume, of 12,700 shares, the days-to-cover ratio is currently 3.9 days.

National Bankshares Price Performance

Shares of NASDAQ NKSH traded up $0.38 during mid-day trading on Friday, reaching $29.23. 5,084 shares of the company’s stock traded hands, compared to its average volume of 13,854. The business has a 50-day simple moving average of $29.58 and a 200 day simple moving average of $30.03. The stock has a market cap of $172.28 million, a P/E ratio of 12.93 and a beta of 0.56. National Bankshares has a 1-year low of $22.28 and a 1-year high of $37.00.

National Bankshares (NASDAQ:NKSH) last issued its quarterly earnings data on Wednesday, August 14th. The bank reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.17). The company had revenue of $19.36 million for the quarter, compared to the consensus estimate of $11.43 million. National Bankshares had a return on equity of 6.70% and a net margin of 12.65%. Equities research analysts anticipate that National Bankshares will post 1.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Lawrence J. Ball bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of $27.00 per share, for a total transaction of $27,000.00. Following the acquisition, the director now directly owns 20,688 shares in the company, valued at $558,576. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On National Bankshares

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in National Bankshares by 67.0% during the 1st quarter. BNP Paribas Financial Markets now owns 2,821 shares of the bank’s stock worth $94,000 after acquiring an additional 1,132 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of National Bankshares in the second quarter valued at about $226,000. Cascade Wealth Advisors Inc bought a new position in shares of National Bankshares during the first quarter valued at about $357,000. Price T Rowe Associates Inc. MD boosted its holdings in National Bankshares by 3.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,958 shares of the bank’s stock worth $400,000 after purchasing an additional 357 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in National Bankshares by 2.4% in the 2nd quarter. Renaissance Technologies LLC now owns 21,370 shares of the bank’s stock worth $604,000 after purchasing an additional 500 shares in the last quarter. 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.