Sandler O’Neill upgraded shares of National Bankshares (NASDAQ:NKSH) from a hold rating to a buy rating in a report published on Monday, February 4th, Marketbeat reports. The brokerage currently has $42.50 price objective on the bank’s stock. The analysts noted that the move was a valuation call.
Separately, BidaskClub downgraded National Bankshares from a hold rating to a sell rating in a report on Saturday, January 19th.
NASDAQ:NKSH traded up $0.16 during mid-day trading on Monday, reaching $39.66. The stock had a trading volume of 1,715 shares, compared to its average volume of 12,202. National Bankshares has a fifty-two week low of $33.65 and a fifty-two week high of $49.75. The company has a market capitalization of $276.03 million, a P/E ratio of 17.27 and a beta of 0.38.
In other news, Director John Elliott Dooley bought 617 shares of National Bankshares stock in a transaction that occurred on Tuesday, December 4th. The stock was purchased at an average cost of $43.00 per share, with a total value of $26,531.00. Following the completion of the transaction, the director now directly owns 3,942 shares in the company, valued at $169,506. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack M. Lewis bought 3,000 shares of National Bankshares stock in a transaction that occurred on Monday, February 4th. The stock was purchased at an average cost of $36.50 per share, with a total value of $109,500.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 6,216 shares of company stock worth $237,513. Corporate insiders own 3.71% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors increased its stake in shares of National Bankshares by 313.3% in the third quarter. Captrust Financial Advisors now owns 6,200 shares of the bank’s stock valued at $282,000 after buying an additional 4,700 shares in the last quarter. Vanguard Group Inc increased its stake in shares of National Bankshares by 0.6% in the third quarter. Vanguard Group Inc now owns 268,441 shares of the bank’s stock valued at $12,201,000 after buying an additional 1,605 shares in the last quarter. BlackRock Inc. increased its position in National Bankshares by 0.9% in the third quarter. BlackRock Inc. now owns 473,758 shares of the bank’s stock worth $21,532,000 after purchasing an additional 4,043 shares during the period. BB&T Securities LLC increased its position in National Bankshares by 38.5% in the fourth quarter. BB&T Securities LLC now owns 9,020 shares of the bank’s stock worth $328,000 after purchasing an additional 2,507 shares during the period. Finally, California Public Employees Retirement System increased its position in National Bankshares by 7.4% in the second quarter. California Public Employees Retirement System now owns 19,090 shares of the bank’s stock worth $886,000 after purchasing an additional 1,313 shares during the period. 36.32% of the stock is owned by hedge funds and other institutional investors.
About National Bankshares
National Bankshares, Inc operates as the bank holding company for the National Bank of Blacksburg that provides retail and commercial banking 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 deposits, and individual retirement accounts Its loan products include commercial and agricultural, commercial real estate, residential real estate, home equity, and various consumer loan products, as well as loans for the construction of commercial and residential properties.
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