National Bankshares (NASDAQ:NKSH) Rating Increased to Buy at Janney Montgomery Scott

National Bankshares (NASDAQ:NKSH) was upgraded by equities researchers at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $38.00 price objective on the bank’s stock. Janney Montgomery Scott’s price objective would suggest a potential upside of 18.60% from the stock’s previous close.

National Bankshares Stock Performance

Shares of NASDAQ:NKSH opened at $32.04 on Friday. The company has a 50 day moving average price of $30.06 and a two-hundred day moving average price of $29.80. The company has a market capitalization of $203.77 million, a PE ratio of 22.10 and a beta of 0.56. National Bankshares has a 52 week low of $25.18 and a 52 week high of $37.00.

Institutional Investors Weigh In On National Bankshares

Several large investors have recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of National Bankshares by 290.4% during the 3rd quarter. Barclays PLC now owns 7,487 shares of the bank’s stock valued at $224,000 after purchasing an additional 5,569 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of National Bankshares by 4.5% in the third quarter. Geode Capital Management LLC now owns 138,246 shares of the bank’s stock valued at $4,134,000 after buying an additional 5,975 shares during the period. State Street Corp boosted its holdings in shares of National Bankshares by 0.8% in the third quarter. State Street Corp now owns 79,406 shares of the bank’s stock valued at $2,374,000 after buying an additional 622 shares during the period. BNP Paribas Financial Markets increased its position in shares of National Bankshares by 71.7% during the third quarter. BNP Paribas Financial Markets now owns 1,757 shares of the bank’s stock worth $53,000 after acquiring an additional 734 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of National Bankshares by 16.7% during the third quarter. Private Trust Co. NA now owns 3,500 shares of the bank’s stock worth $105,000 after acquiring an additional 500 shares during the period. 29.73% of the stock is currently owned by institutional investors.

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.