National Bankshares (NASDAQ:NKSH) Upgraded by Janney Montgomery Scott to “Buy” Rating

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 reports. Janney Montgomery Scott currently has $38.00 target price on the bank’s stock.

National Bankshares Stock Performance

NASDAQ:NKSH opened at $31.98 on Friday. National Bankshares has a 52 week low of $25.18 and a 52 week high of $37.00. The firm’s fifty day moving average is $30.06 and its 200-day moving average is $29.81. The firm has a market cap of $203.42 million, a P/E ratio of 22.06 and a beta of 0.56.

National Bankshares Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be paid a $0.78 dividend. The ex-dividend date is Monday, November 25th. This is a positive change from National Bankshares’s previous semi-annual dividend of $0.55. This represents a yield of 5%. National Bankshares’s payout ratio is 107.59%.

Institutional Trading of National Bankshares

Several large investors have recently modified their holdings of the stock. Brandes Investment Partners LP boosted its stake in National Bankshares by 14.4% during the second quarter. Brandes Investment Partners LP now owns 135,937 shares of the bank’s stock worth $3,839,000 after acquiring an additional 17,149 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of National Bankshares during the second quarter valued at about $226,000. Eagle Ridge Investment Management bought a new position in shares of National Bankshares during the 3rd quarter worth about $211,000. Geode Capital Management LLC grew its stake in shares of National Bankshares by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 138,246 shares of the bank’s stock valued at $4,134,000 after buying an additional 5,975 shares during the period. Finally, Barclays PLC increased its position in National Bankshares by 290.4% in the 3rd quarter. Barclays PLC now owns 7,487 shares of the bank’s stock valued at $224,000 after buying an additional 5,569 shares in the last quarter. Institutional investors and hedge funds 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.