National Bankshares (NKSH) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of National Bankshares (NASDAQ:NKSH) from a sell rating to a hold rating in a research report report published on Thursday morning.

NKSH has been the subject of a number of other research reports. Sandler O’Neill set a $49.00 target price on shares of National Bankshares and gave the stock a buy rating in a research note on Wednesday, March 28th. Canaccord Genuity raised shares of National Bankshares from a hold rating to a buy rating in a research note on Monday, February 26th.

NASDAQ NKSH traded down $0.25 during trading on Thursday, hitting $48.45. 327 shares of the company traded hands, compared to its average volume of 9,192. The firm has a market cap of $341.98 million, a P/E ratio of 21.94 and a beta of 0.22. National Bankshares has a 12 month low of $36.75 and a 12 month high of $49.30.

The company also recently announced a Semi-Annual dividend, which was paid on Friday, June 1st. Investors of record on Monday, May 21st were paid a dividend of $0.58 per share. This represents a yield of 2.5%. The ex-dividend date of this dividend was Friday, May 18th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in National Bankshares by 0.8% during the fourth quarter. BlackRock Inc. now owns 452,045 shares of the bank’s stock worth $20,545,000 after buying an additional 3,782 shares during the last quarter. Renaissance Technologies LLC raised its stake in National Bankshares by 3.2% during the fourth quarter. Renaissance Technologies LLC now owns 67,200 shares of the bank’s stock worth $3,054,000 after buying an additional 2,100 shares during the last quarter. Wells Fargo & Company MN raised its stake in National Bankshares by 505.7% during the fourth quarter. Wells Fargo & Company MN now owns 43,250 shares of the bank’s stock worth $1,966,000 after buying an additional 36,109 shares during the last quarter. Bank of New York Mellon Corp raised its stake in National Bankshares by 34.4% during the fourth quarter. Bank of New York Mellon Corp now owns 40,271 shares of the bank’s stock worth $1,830,000 after buying an additional 10,314 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in National Bankshares by 16.2% during the fourth quarter. Brandes Investment Partners LP now owns 34,291 shares of the bank’s stock worth $1,558,000 after buying an additional 4,792 shares during the last quarter. 36.41% of the stock is owned by institutional investors and hedge funds.

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 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 deposits, and individual retirement accounts Its loan products include commercial and agricultural, commercial real estate, residential real estate, home equity, and various consumer loan products, as well as loans for the construction of commercial and residential properties.

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