National Bankshares (NASDAQ:NKSH) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• National Bankshares reported earnings of $0.69 per share, surpassing expectations by $0.03 and achieving a net margin of 13.58%.
• The firm’s stock traded at $28.69 after a decrease of $0.63, with a market cap of $182.76 million and a PE ratio of 16.21.
• Institutional investors hold 29.73% of the stock, with notable increases in holdings by firms such as Geode Capital Management and Tower Research Capital.

National Bankshares (NASDAQ:NKSH - Get Free Report) announced its earnings results on Thursday. The bank reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.03, Zacks reports. National Bankshares had a net margin of 13.58% and a return on equity of 7.69%.

National Bankshares Price Performance

Shares of NKSH stock traded down $0.63 during midday trading on Thursday, reaching $28.69. 5,288 shares of the company traded hands, compared to its average volume of 11,467. The firm's 50 day simple moving average is $29.86 and its two-hundred day simple moving average is $27.94. National Bankshares has a 1-year low of $23.75 and a 1-year high of $32.89. The firm has a market cap of $182.76 million, a PE ratio of 16.21 and a beta of 0.75.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c)" rating on shares of National Bankshares in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, National Bankshares presently has an average rating of "Moderate Buy" and an average target price of $38.00.

Institutional Investors Weigh In On National Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of National Bankshares by 7.3% during the 2nd quarter. Geode Capital Management LLC now owns 154,273 shares of the bank's stock valued at $4,197,000 after acquiring an additional 10,437 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of National Bankshares by 398.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,746 shares of the bank's stock valued at $47,000 after acquiring an additional 1,396 shares during the period. Finally, State of Wyoming acquired a new stake in shares of National Bankshares during the 2nd quarter valued at approximately $36,000. 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.

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