National Bankshares (NASDAQ:NKSH) Shares Break Above 200-Day Moving Average - Here's What Happened

Key Points

• National Bankshares shares crossed above their 200-day moving average, reaching $42.68 before closing at $41.91, compared with a 200-day average of $38.03.
• Analyst sentiment remains mixed but leans positive: Weiss Ratings upgraded the stock, while Zacks Research downgraded it to “hold.” The overall consensus rating is “Moderate Buy.”
• The bank slightly missed quarterly EPS expectations, reporting $0.79 versus the $0.80 estimate, although revenue of $15.68 million topped forecasts. Institutional investors own approximately 29.73% of the stock.

National Bankshares, Inc. (NASDAQ:NKSH - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $38.03 and traded as high as $42.68. National Bankshares shares last traded at $41.91, with a volume of 23,749 shares.

Analysts Set New Price Targets

Several brokerages have weighed in on NKSH. Weiss Ratings raised National Bankshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 13th. Zacks Research downgraded National Bankshares from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy".

National Bankshares Trading Down 0.8%

The company has a market capitalization of $266.97 million, a PE ratio of 13.18 and a beta of 0.60. The stock has a fifty day simple moving average of $41.44 and a 200-day simple moving average of $38.03.

National Bankshares (NASDAQ:NKSH - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $15.65 million. As a group, equities research analysts predict that National Bankshares, Inc. will post 3.52 EPS for the current year.

Hedge Funds Weigh In On National Bankshares

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in National Bankshares during the second quarter worth approximately $19,238,000. Bank of New York Mellon Corp purchased a new stake in shares of National Bankshares during the 2nd quarter worth approximately $586,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of National Bankshares in the 2nd quarter valued at $584,000. Bank of America Corp DE acquired a new position in shares of National Bankshares in the 2nd quarter valued at $401,000. Finally, Hsbc Holdings PLC purchased a new position in shares of National Bankshares during the second quarter worth about $228,000. 29.73% of the stock is currently owned by hedge funds and other institutional investors.

About National Bankshares

National Bankshares, Inc is a bank holding company headquartered in Blacksburg, Virginia. Its principal subsidiary, The National Bank of Blacksburg, provides community banking services to individuals, families, farmers and businesses.

The bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing and other traditional banking products. Its services also include online and mobile banking, cash management, investment and wealth management services, and related financial solutions.

Founded in 1891, The National Bank of Blacksburg has a long history of serving communities in southwestern Virginia.

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