BidaskClub Upgrades National Bankshares (NKSH) to “Buy”

National Bankshares (NASDAQ:NKSH) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.

Separately, Sandler O’Neill downgraded shares of National Bankshares from a “buy” rating to a “hold” rating and decreased their price target for the stock from $54.00 to $48.00 in a research report on Monday, October 22nd. They noted that the move was a valuation call.

Shares of NKSH stock traded up $0.34 during mid-day trading on Friday, reaching $44.80. 8,279 shares of the company were exchanged, compared to its average volume of 6,574. National Bankshares has a fifty-two week low of $37.55 and a fifty-two week high of $49.75. The company has a market capitalization of $309.35 million, a P/E ratio of 19.08 and a beta of 0.26.

Institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC boosted its holdings in National Bankshares by 60.6% in the third quarter. MetLife Investment Advisors LLC now owns 5,599 shares of the bank’s stock worth $254,000 after purchasing an additional 2,112 shares during the period. Captrust Financial Advisors boosted its holdings in National Bankshares by 313.3% in the third quarter. Captrust Financial Advisors now owns 6,200 shares of the bank’s stock worth $282,000 after purchasing an additional 4,700 shares during the period. California Public Employees Retirement System boosted its holdings 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. Dimensional Fund Advisors LP boosted its holdings in National Bankshares by 15.2% in the first quarter. Dimensional Fund Advisors LP now owns 31,322 shares of the bank’s stock worth $1,411,000 after purchasing an additional 4,133 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in National Bankshares by 10.2% in the second quarter. Renaissance Technologies LLC now owns 72,200 shares of the bank’s stock worth $3,350,000 after purchasing an additional 6,700 shares during the period. 36.26% of the stock is owned by hedge funds and other institutional investors.

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 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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