National Bankshares (NASDAQ:NKSH) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

National Bankshares, Inc. (NASDAQ:NKSH) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $36.95 and traded as high as $42.95. National Bankshares shares last traded at $42.61, with a volume of 37,358 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NKSH shares. Zacks Research upgraded National Bankshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded shares of National Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

National Bankshares Price Performance

The stock has a fifty day moving average price of $37.51 and a two-hundred day moving average price of $36.99. The company has a market cap of $270.15 million, a P/E ratio of 13.34 and a beta of 0.60.

National Bankshares (NASDAQ:NKSH) last issued its quarterly earnings data 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 10.79% and a net margin of 23.22%.The business had revenue of $15.68 million during the quarter, compared to the consensus estimate of $15.65 million. As a group, analysts forecast that National Bankshares, Inc. will post 3.52 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of National Bankshares by 7.3% during the second quarter. Geode Capital Management LLC now owns 154,273 shares of the bank’s stock valued at $4,197,000 after purchasing an additional 10,437 shares in the last quarter. Tower Research Capital LLC TRC grew its position in National Bankshares by 398.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,746 shares of the bank’s stock valued at $47,000 after buying an additional 1,396 shares in the last quarter. State of Wyoming bought a new position in National Bankshares in the 2nd quarter valued at about $36,000. JPMorgan Chase & Co. increased its stake in National Bankshares by 37.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,493 shares of the bank’s stock valued at $191,000 after buying an additional 1,774 shares during the period. Finally, Vanguard Group Inc. increased its stake in National Bankshares by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 334,517 shares of the bank’s stock valued at $9,848,000 after buying an additional 3,876 shares during the period. Institutional investors own 29.73% of the company’s stock.

National Bankshares Company Profile

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.