National Bankshares (NASDAQ:NKSH) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of National Bankshares, Inc. (NASDAQ:NKSH) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $37.30 and traded as high as $41.16. National Bankshares shares last traded at $40.70, with a volume of 31,283 shares.

Analyst Ratings Changes

NKSH has been the topic of a number of recent research reports. Weiss Ratings upgraded National Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Zacks Research raised National Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

National Bankshares Price Performance

The firm has a market cap of $259.26 million, a P/E ratio of 12.80 and a beta of 0.60. The firm has a fifty day simple moving average of $38.69 and a 200-day simple moving average of $37.30.

National Bankshares (NASDAQ:NKSH) last issued its earnings results on Thursday, July 23rd. The bank reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). National Bankshares had a return on equity of 10.66% and a net margin of 23.22%.The firm had revenue of $15.68 million during the quarter, compared to the consensus estimate of $15.65 million. On average, equities analysts predict that National Bankshares, Inc. will post 3.52 earnings per share for the current year.

Hedge Funds Weigh In On National Bankshares

A number of hedge funds have recently added to or reduced their stakes in NKSH. Bank of America Corp DE bought a new position in National Bankshares during the 2nd quarter valued at $401,000. Hsbc Holdings PLC purchased a new position in National Bankshares during the second quarter worth about $228,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in National Bankshares during the second quarter worth about $584,000. BlackRock Inc. bought a new stake in National Bankshares in the 2nd quarter worth about $19,238,000. Finally, Deutsche Bank AG bought a new stake in National Bankshares in the 2nd quarter worth about $224,000. Institutional investors and hedge funds own 29.73% of the company’s stock.

About National Bankshares

National Bankshares, Inc is a Virginia-based bank holding company headquartered in Reston. Through its primary subsidiaries, National Bank of Blacksburg and The Bank of Giles and Montgomery, the company offers a full suite of community banking services to individuals, small businesses and nonprofit organizations.

The company’s core activities include deposit-taking, consumer and commercial lending, mortgage origination and servicing, trust and wealth management, and electronic banking platforms.