National Bankshares (NASDAQ:NKSH) Coverage Initiated at StockNews.com

Posted by on Jun 18th, 2022

StockNews.com initiated coverage on shares of National Bankshares (NASDAQ:NKSH – Get Rating) in a report released on Saturday. The firm set a “hold” rating on the bank’s stock.

Separately, Janney Montgomery Scott assumed coverage on shares of National Bankshares in a report on Thursday, June 2nd. They issued a “neutral” rating and a $37.00 price target for the company.

NASDAQ:NKSH opened at $32.30 on Friday. National Bankshares has a 1 year low of $31.42 and a 1 year high of $39.19. The firm has a 50 day moving average of $33.71 and a 200-day moving average of $35.49.

National Bankshares (NASDAQ:NKSH – Get Rating) last posted its quarterly earnings data on Wednesday, May 11th. The bank reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. National Bankshares had a net margin of 38.29% and a return on equity of 11.16%. The firm had revenue of $12.69 million during the quarter, compared to analysts’ expectations of $12.30 million. As a group, sell-side analysts anticipate that National Bankshares will post 3.3 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of National Bankshares during the 1st quarter worth approximately $28,000. UBS Group AG lifted its stake in National Bankshares by 122.6% in the 1st quarter. UBS Group AG now owns 730 shares of the bank’s stock valued at $27,000 after purchasing an additional 402 shares during the last quarter. Citigroup Inc. bought a new position in shares of National Bankshares during the first quarter valued at $33,000. Wells Fargo & Company MN raised its stake in shares of National Bankshares by 38.4% during the fourth quarter. Wells Fargo & Company MN now owns 2,697 shares of the bank’s stock valued at $96,000 after acquiring an additional 748 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of National Bankshares by 849.2% during the second quarter. Morgan Stanley now owns 4,537 shares of the bank’s stock worth $159,000 after buying an additional 4,059 shares during the period. 25.03% of the stock is currently owned by institutional investors.

National Bankshares Company Profile (Get Rating)

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.

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