National Bankshares (NASDAQ:NKSH) Issues Earnings Results
by Michael Walen · The Markets DailyNational Bankshares (NASDAQ:NKSH – Get Free Report) released its quarterly earnings results on Thursday. The bank reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11, FiscalAI reports. National Bankshares had a return on equity of 9.59% and a net margin of 18.55%.The business had revenue of $15.30 million for the quarter, compared to the consensus estimate of $14.50 million.
National Bankshares Stock Down 1.1%
Shares of NKSH traded down $0.41 during trading hours on Thursday, hitting $36.61. The company had a trading volume of 47,768 shares, compared to its average volume of 33,128. The firm has a market cap of $233.21 million, a P/E ratio of 14.76 and a beta of 0.69. The stock’s 50 day moving average price is $37.19 and its 200 day moving average price is $33.83. National Bankshares has a 52-week low of $24.74 and a 52-week high of $40.00.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of NKSH. Geode Capital Management LLC increased its holdings in shares of National Bankshares by 7.3% in the second quarter. Geode Capital Management LLC now owns 154,273 shares of the bank’s stock worth $4,197,000 after buying an additional 10,437 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of National Bankshares by 398.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,746 shares of the bank’s stock worth $47,000 after purchasing an additional 1,396 shares during the last quarter. State of Wyoming bought a new stake in shares of National Bankshares in the second quarter worth about $36,000. JPMorgan Chase & Co. grew its stake in shares of National Bankshares by 37.6% in the third quarter. JPMorgan Chase & Co. now owns 6,493 shares of the bank’s stock worth $191,000 after purchasing an additional 1,774 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of National Bankshares by 1.2% in the third quarter. Vanguard Group Inc. now owns 334,517 shares of the bank’s stock worth $9,848,000 after purchasing an additional 3,876 shares during the last quarter. Hedge funds and other institutional investors own 29.73% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on NKSH shares. Wall Street Zen upgraded National Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings upgraded National Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, National Bankshares currently has a consensus rating of “Buy”.
Get Our Latest Analysis on NKSH
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.