National Bankshares (NASDAQ:NKSH) Upgraded at Janney Montgomery Scott

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

National Bankshares Price Performance

NKSH opened at $32.04 on Friday. National Bankshares has a 12 month low of $25.18 and a 12 month high of $37.00. The stock’s 50 day moving average price is $30.06 and its 200 day moving average price is $29.81. The stock has a market cap of $203.77 million, a P/E ratio of 22.10 and a beta of 0.56.

National Bankshares Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 25th will be paid a dividend of $0.78 per share. This represents a dividend yield of 5%. The ex-dividend date of this dividend 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 (DPR) is currently 100.69%.

Institutional Investors Weigh In On National Bankshares

A number of institutional investors have recently added to or reduced their stakes in NKSH. BNP Paribas Financial Markets increased its position in shares of National Bankshares by 67.0% during the 1st quarter. BNP Paribas Financial Markets now owns 2,821 shares of the bank’s stock valued at $94,000 after purchasing an additional 1,132 shares during the period. Vanguard Group Inc. boosted its stake in National Bankshares by 0.6% during the first quarter. Vanguard Group Inc. now owns 314,033 shares of the bank’s stock valued at $10,492,000 after buying an additional 1,877 shares in the last quarter. Price T Rowe Associates Inc. MD grew 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 acquiring an additional 357 shares during the period. Bank of New York Mellon Corp raised its position in National Bankshares by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 24,156 shares of the bank’s stock worth $683,000 after acquiring an additional 471 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in National Bankshares by 2.4% in the 2nd quarter. Renaissance Technologies LLC now owns 21,370 shares of the bank’s stock valued at $604,000 after acquiring an additional 500 shares during the last quarter. 29.73% of the stock is currently owned by institutional investors and hedge funds.

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.