National Bankshares (NASDAQ:NKSH) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• National Bankshares' stock price crossed above its 200-day moving average of $27.28, trading as high as $27.57 before closing at $27.11.
• The company has recently cut its dividend, declaring a semi-annual dividend of $0.73, which resulted in a 590.0% yield, although the dividend payout ratio is 107.35%.
• Multiple institutional investors, including Tower Research Capital and PNC Financial Services Group, have significantly increased their holdings in National Bankshares.

National Bankshares, Inc. (NASDAQ:NKSH - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $27.28 and traded as high as $27.57. National Bankshares shares last traded at $27.11, with a volume of 10,247 shares traded.

National Bankshares Stock Performance

The company has a market cap of $181.45 million, a PE ratio of 20.98 and a beta of 0.72. The business's 50-day moving average is $27.62 and its 200 day moving average is $27.25.

National Bankshares Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 27th were given a $0.73 dividend. This represents a yield of 590.0%. The ex-dividend date was Tuesday, May 27th. National Bankshares's dividend payout ratio (DPR) is presently 107.35%.

Hedge Funds Weigh In On National Bankshares

A number of large investors have recently added to or reduced their stakes in the business. Rhino Investment Partners Inc raised its position in National Bankshares by 5.3% in the 4th quarter. Rhino Investment Partners Inc now owns 132,035 shares of the bank's stock worth $3,791,000 after purchasing an additional 6,588 shares during the period. Dimensional Fund Advisors LP increased its position in shares of National Bankshares by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 99,463 shares of the bank's stock valued at $2,856,000 after acquiring an additional 5,750 shares during the period. Northern Trust Corp raised its stake in shares of National Bankshares by 2.0% during the fourth quarter. Northern Trust Corp now owns 48,110 shares of the bank's stock valued at $1,381,000 after acquiring an additional 935 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of National Bankshares by 14.4% during the fourth quarter. LPL Financial LLC now owns 39,465 shares of the bank's stock worth $1,133,000 after purchasing an additional 4,981 shares during the period. Finally, Acadian Asset Management LLC grew its stake in shares of National Bankshares by 7.6% in the first quarter. Acadian Asset Management LLC now owns 36,623 shares of the bank's stock worth $974,000 after purchasing an additional 2,592 shares during the last quarter. Hedge funds and other institutional investors own 29.73% of the company's stock.

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.