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

Key Points

• National Bankshares shares climbed above their 200-day moving average, reaching $41.16 before last trading at $40.70, compared with a 200-day average of $37.30.
• Analyst sentiment improved, with Weiss Ratings upgrading the stock to “buy” and Zacks Research raising it to “strong-buy.” MarketBeat data shows an average rating of “Strong Buy.”
• The bank reported quarterly EPS of $0.79, slightly below the $0.80 consensus estimate, while revenue of $15.68 million edged above expectations. Institutional investors own 29.73% of the company, including a new $19.2 million BlackRock stake.

Shares of National Bankshares, Inc. (NASDAQ:NKSH - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $37.30 and traded as high as $41.16. National Bankshares shares last traded at $40.70, with a volume of 31,283 shares.

Analyst Ratings Changes

NKSH has been the topic of a number of recent research reports. Weiss Ratings upgraded National Bankshares from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. Zacks Research raised 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 issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Strong Buy".

National Bankshares Price Performance

The firm has a market cap of $259.26 million, a P/E ratio of 12.80 and a beta of 0.60. The firm has a fifty day simple moving average of $38.69 and a 200-day simple moving average of $37.30.

National Bankshares (NASDAQ:NKSH - Get Free Report) last issued its earnings results on Thursday, July 23rd. The bank reported $0.79 earnings per share (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 firm had revenue of $15.68 million during the quarter, compared to the consensus estimate of $15.65 million. On average, equities analysts predict that National Bankshares, Inc. will post 3.52 earnings per share for the current year.

Hedge Funds Weigh In On National Bankshares

A number of hedge funds have recently added to or reduced their stakes in NKSH. Bank of America Corp DE bought a new position in National Bankshares during the 2nd quarter valued at $401,000. Hsbc Holdings PLC purchased a new position in National Bankshares during the second quarter worth about $228,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in National Bankshares during the second quarter worth about $584,000. BlackRock Inc. bought a new stake in National Bankshares in the 2nd quarter worth about $19,238,000. Finally, Deutsche Bank AG bought a new stake in National Bankshares in the 2nd quarter worth about $224,000. Institutional investors and hedge funds own 29.73% of the company's stock.

About National Bankshares

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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