Zacks Research Upgrades National Bankshares (NASDAQ:NKSH) to "Strong-Buy"

Key Points

• Zacks Research upgraded National Bankshares from “hold” to “strong-buy,” while other analysts also raised their ratings; MarketBeat data shows an overall average rating of “Strong Buy.”
• Shares opened at $39.80, with a market capitalization of approximately $253.5 million and a 12-month trading range of $27.00 to $41.32.
• National Bankshares narrowly missed quarterly EPS expectations, reporting $0.79 versus the $0.80 consensus, although revenue of $15.70 million exceeded estimates; institutional investors own 29.73% of the stock.

National Bankshares (NASDAQ:NKSH - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on NKSH. Wall Street Zen upgraded shares of National Bankshares from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Weiss Ratings upgraded National Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 9th. 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 data from MarketBeat.com, the company currently has an average rating of "Strong Buy".

National Bankshares Stock Down 0.3%

NASDAQ NKSH opened at $39.80 on Tuesday. The business has a 50-day moving average price of $36.12 and a 200-day moving average price of $36.46. The firm has a market cap of $253.53 million, a price-to-earnings ratio of 12.52 and a beta of 0.62. National Bankshares has a twelve month low of $27.00 and a twelve month high of $41.32.

National Bankshares (NASDAQ:NKSH - Get Free Report) last posted its quarterly 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 10.79% and a net margin of 23.22%.The business had revenue of $15.70 million during the quarter, compared to analysts' expectations of $15.65 million. Research analysts expect that National Bankshares will post 3.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its holdings in National Bankshares by 10.7% during the 4th quarter. Barclays PLC now owns 10,425 shares of the bank's stock valued at $350,000 after purchasing an additional 1,006 shares during the last quarter. Mindset Wealth Management LLC bought a new position in shares of National Bankshares during the fourth quarter valued at approximately $217,000. JPMorgan Chase & Co. raised its holdings in shares of National Bankshares by 37.6% in the third quarter. JPMorgan Chase & Co. now owns 6,493 shares of the bank's stock worth $191,000 after buying an additional 1,774 shares during the period. Royal Bank of Canada lifted its stake in shares of National Bankshares by 209.9% during the 4th quarter. Royal Bank of Canada now owns 4,305 shares of the bank's stock worth $144,000 after acquiring an additional 2,916 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of National Bankshares by 18.2% during the 4th quarter. State of Wyoming now owns 1,965 shares of the bank's stock worth $66,000 after acquiring an additional 302 shares during the last quarter. 29.73% of the stock is owned by hedge funds and other institutional investors.

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.

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