National Bankshares (NASDAQ:NKSH) Downgraded by StockNews.com to Sell

StockNews.com cut shares of National Bankshares (NASDAQ:NKSH) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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

National Bankshares Price Performance

Shares of NKSH opened at $29.24 on Tuesday. The firm has a fifty day moving average price of $30.67 and a 200 day moving average price of $29.89. National Bankshares has a 1-year low of $26.50 and a 1-year high of $35.00. The stock has a market cap of $186.00 million, a PE ratio of 20.17 and a beta of 0.59.

National Bankshares Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were given a dividend of $0.78 per share. This represents a yield of 5%. This is a boost from National Bankshares’s previous semi-annual dividend of $0.55. The ex-dividend date of this dividend was Monday, November 25th. National Bankshares’s dividend payout ratio (DPR) is presently 107.59%.

Institutional Investors Weigh In On National Bankshares

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in National Bankshares by 71.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,757 shares of the bank’s stock valued at $53,000 after buying an additional 734 shares during the period. Private Trust Co. NA boosted its holdings in National Bankshares by 16.7% in the 3rd quarter. Private Trust Co. NA now owns 3,500 shares of the bank’s stock valued at $105,000 after purchasing an additional 500 shares in the last quarter. Eagle Ridge Investment Management acquired a new position in National Bankshares during the 3rd quarter worth approximately $211,000. Barclays PLC raised its stake in shares of National Bankshares by 290.4% during the 3rd 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. Finally, Sanctuary Advisors LLC acquired a new stake in shares of National Bankshares in the 2nd quarter valued at approximately $226,000. Hedge funds and other 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.