BlackRock Inc. Makes New Investment in National Bankshares, Inc. $NKSH

Key Points

• BlackRock initiated a major position in National Bankshares during the second quarter, purchasing 529,524 shares worth approximately $19.2 million, or about 8.32% of the company.
• Institutional ownership remains significant at 29.73%, with several other investment firms increasing or initiating positions in NKSH.
• National Bankshares shares recently rose 3.1% to $41.47, while analysts maintain a “Strong Buy” consensus. The bank slightly missed quarterly EPS estimates but exceeded revenue expectations.

BlackRock Inc. bought a new stake in shares of National Bankshares, Inc. (NASDAQ:NKSH - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 529,524 shares of the bank's stock, valued at approximately $19,238,000. BlackRock Inc. owned approximately 8.32% of National Bankshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Fourthstone LLC boosted its position in shares of National Bankshares by 76.0% in the 4th quarter. Fourthstone LLC now owns 226,138 shares of the bank's stock worth $7,582,000 after purchasing an additional 97,641 shares in the last quarter. Lombard Odier Asset Management Switzerland SA bought a new position in National Bankshares during the 4th quarter valued at approximately $4,034,000. Bank of New York Mellon Corp purchased a new position in National Bankshares during the second quarter valued at $586,000. Brandes Investment Partners LP raised its stake in National Bankshares by 5.5% during the fourth quarter. Brandes Investment Partners LP now owns 244,505 shares of the bank's stock valued at $8,198,000 after buying an additional 12,698 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in National Bankshares by 7.3% in the second quarter. Geode Capital Management LLC now owns 154,273 shares of the bank's stock worth $4,197,000 after acquiring an additional 10,437 shares in the last quarter. 29.73% of the stock is currently owned by hedge funds and other institutional investors.

National Bankshares Stock Up 3.1%

Shares of NASDAQ NKSH opened at $41.47 on Thursday. The firm has a market cap of $264.16 million, a P/E ratio of 13.04 and a beta of 0.60. National Bankshares, Inc. has a twelve month low of $27.00 and a twelve month high of $43.31. The company has a 50 day moving average of $39.08 and a 200 day moving average of $37.38.

National Bankshares (NASDAQ:NKSH - Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.01). National Bankshares had a return on equity of 10.66% and a net margin of 23.22%.The business had revenue of $15.68 million during the quarter, compared to the consensus estimate of $15.65 million. As a group, equities analysts expect that National Bankshares, Inc. will post 3.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NKSH. Weiss Ratings upgraded National Bankshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 13th. Zacks Research upgraded shares of National Bankshares from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Strong Buy".

National Bankshares Company Profile

National Bankshares, Inc is a Virginia-based bank holding company headquartered in Reston. Through its primary subsidiaries, National Bank of Blacksburg and The Bank of Giles and Montgomery, the company offers a full suite of community banking services to individuals, small businesses and nonprofit organizations.

The company’s core activities include deposit-taking, consumer and commercial lending, mortgage origination and servicing, trust and wealth management, and electronic banking platforms.

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