National Bankshares (NASDAQ:NKSH) Upgraded to "Buy" at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of National Bankshares (NASDAQ:NKSH - Free Report) from a neutral rating to a buy rating in a report issued on Friday morning, Marketbeat.com reports. The brokerage currently has $38.00 target price on the bank's stock.

National Bankshares Stock Up 4.2 %

Shares of NASDAQ NKSH traded up $1.29 during mid-day trading on Friday, reaching $32.01. 10,936 shares of the company were exchanged, compared to its average volume of 13,411. The stock has a market capitalization of $203.58 million, a PE ratio of 21.48 and a beta of 0.56. National Bankshares has a 52 week low of $25.18 and a 52 week high of $37.00. The company's 50 day moving average price is $30.03 and its 200 day moving average price is $29.76.

National Bankshares Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 25th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, November 25th. This is a positive change from National Bankshares's previous semi-annual dividend of $0.55. This represents a dividend yield of 5%. National Bankshares's dividend payout ratio is 100.69%.

Institutional Trading of National Bankshares

Hedge funds have recently bought and sold shares of the company. Barclays PLC grew its position in National Bankshares by 290.4% during the third quarter. Barclays PLC now owns 7,487 shares of the bank's stock valued at $224,000 after acquiring an additional 5,569 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of National Bankshares by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 138,246 shares of the bank's stock valued at $4,134,000 after purchasing an additional 5,975 shares in the last quarter. State Street Corp grew its holdings in shares of National Bankshares by 0.8% during the 3rd quarter. State Street Corp now owns 79,406 shares of the bank's stock valued at $2,374,000 after purchasing an additional 622 shares during the last quarter. BNP Paribas Financial Markets raised its position in National Bankshares by 71.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,757 shares of the bank's stock worth $53,000 after purchasing an additional 734 shares during the period. Finally, Private Trust Co. NA lifted its stake in National Bankshares by 16.7% in the third quarter. Private Trust Co. NA now owns 3,500 shares of the bank's stock worth $105,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 29.73% of the company's stock.

National Bankshares Company Profile

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.