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 reports. They currently have $38.00 price objective on the bank’s stock.

National Bankshares Trading Up 4.3 %

NASDAQ:NKSH opened at $32.04 on Friday. The company has a market capitalization of $203.77 million, a P/E ratio of 22.10 and a beta of 0.56. The firm has a 50-day moving average price of $30.06 and a two-hundred day moving average price of $29.81. National Bankshares has a twelve month low of $25.18 and a twelve month high of $37.00.

National Bankshares Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be issued a dividend of $0.78 per share. The ex-dividend date is Monday, November 25th. This is an increase from National Bankshares’s previous semi-annual dividend of $0.55. This represents a dividend yield of 5%. National Bankshares’s payout ratio is 100.69%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Brandes Investment Partners LP grew its position in shares of National Bankshares by 14.4% in the second quarter. Brandes Investment Partners LP now owns 135,937 shares of the bank’s stock valued at $3,839,000 after purchasing an additional 17,149 shares during the period. BNP Paribas Financial Markets boosted its position in shares of National Bankshares by 67.0% in the first 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. Price T Rowe Associates Inc. MD grew its stake in shares of National Bankshares by 3.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,958 shares of the bank’s stock valued at $400,000 after buying an additional 357 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of National Bankshares in the 2nd quarter valued at about $226,000. Finally, Vanguard Group Inc. raised its stake in shares of National Bankshares by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 314,033 shares of the bank’s stock valued at $10,492,000 after acquiring an additional 1,877 shares during the period. 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.