Janney Montgomery Scott Upgrades National Bankshares (NASDAQ:NKSH) to Buy

National Bankshares (NASDAQ:NKSH) was upgraded by Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report issued on Friday,Briefing.com Automated Import reports.

National Bankshares Stock Performance

NKSH opened at $30.72 on Friday. The business’s 50-day simple moving average is $30.00 and its 200-day simple moving average is $29.76. The company has a market cap of $195.35 million, a P/E ratio of 21.18 and a beta of 0.56. National Bankshares has a one year low of $25.18 and a one year high of $37.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NKSH. BNP Paribas Financial Markets grew its stake in National Bankshares by 71.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,757 shares of the bank’s stock worth $53,000 after buying an additional 734 shares during the last quarter. Private Trust Co. NA grew its stake in National Bankshares by 16.7% during the 3rd quarter. Private Trust Co. NA now owns 3,500 shares of the bank’s stock worth $105,000 after buying an additional 500 shares during the last quarter. Eagle Ridge Investment Management purchased a new position in National Bankshares during the 3rd quarter worth approximately $211,000. Barclays PLC grew its stake in National Bankshares by 290.4% during the 3rd quarter. Barclays PLC now owns 7,487 shares of the bank’s stock worth $224,000 after buying an additional 5,569 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in National Bankshares during the 2nd quarter worth approximately $226,000. Hedge funds and other 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.