National Bankshares (NASDAQ:NKSH) Upgraded to “Hold” at StockNews.com

National Bankshares (NASDAQ:NKSH) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, Janney Montgomery Scott raised National Bankshares from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Friday.

National Bankshares Stock Performance

NKSH stock traded up $0.70 on Monday, reaching $31.98. The company’s stock had a trading volume of 13,567 shares, compared to its average volume of 13,426. The business has a fifty day simple moving average of $30.06 and a two-hundred day simple moving average of $29.81. National Bankshares has a 12-month low of $25.18 and a 12-month high of $37.00. The firm has a market cap of $203.42 million, a PE ratio of 22.06 and a beta of 0.56.

Hedge Funds Weigh In On National Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in National Bankshares by 71.7% during the third quarter. BNP Paribas Financial Markets now owns 1,757 shares of the bank’s stock valued at $53,000 after buying an additional 734 shares during the period. Private Trust Co. NA lifted its position in National Bankshares by 16.7% during the third quarter. Private Trust Co. NA now owns 3,500 shares of the bank’s stock valued at $105,000 after buying an additional 500 shares during the period. Eagle Ridge Investment Management purchased a new position in National Bankshares during the third quarter valued at $211,000. Barclays PLC increased its holdings in shares of 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 in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of National Bankshares during the second quarter valued at $226,000. Hedge funds and other institutional investors own 29.73% of the company’s stock.

About National Bankshares

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.