National Bankshares, Inc. (NASDAQ:NKSH) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 136,700 shares, a growth of 25.9% from the March 31st total of 108,600 shares. Based on an average daily volume of 19,400 shares, the days-to-cover ratio is currently 7.0 days. Approximately 2.2% of the company’s shares are short sold.
In other National Bankshares news, Director John Elliott Dooley acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, February 18th. The shares were acquired at an average price of $33.00 per share, for a total transaction of $33,000.00. Following the completion of the acquisition, the director now directly owns 7,600 shares of the company’s stock, valued at $250,800. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.39% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new stake in shares of National Bankshares during the first quarter worth about $204,000. Wealthcare Advisory Partners LLC acquired a new position in National Bankshares in the first quarter worth about $190,000. Dimensional Fund Advisors LP grew its stake in National Bankshares by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 47,471 shares of the bank’s stock worth $1,486,000 after purchasing an additional 1,382 shares in the last quarter. JPMorgan Chase & Co. grew its stake in National Bankshares by 272.8% in the fourth quarter. JPMorgan Chase & Co. now owns 19,832 shares of the bank’s stock worth $621,000 after purchasing an additional 14,512 shares in the last quarter. Finally, Truist Financial Corp grew its stake in National Bankshares by 6.1% in the fourth quarter. Truist Financial Corp now owns 9,588 shares of the bank’s stock worth $300,000 after purchasing an additional 549 shares in the last quarter. 29.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ NKSH traded down $0.60 during midday trading on Tuesday, reaching $35.48. 17,309 shares of the company’s stock were exchanged, compared to its average volume of 18,024. National Bankshares has a 52-week low of $23.37 and a 52-week high of $39.99. The stock has a market capitalization of $227.04 million, a PE ratio of 14.48 and a beta of 0.54. The business’s fifty day moving average price is $35.80 and its two-hundred day moving average price is $32.72.
National Bankshares (NASDAQ:NKSH) last announced its earnings results on Wednesday, April 21st. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.12. National Bankshares had a return on equity of 8.23% and a net margin of 30.34%. As a group, analysts expect that National Bankshares will post 2.27 EPS for the current year.
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, and individual retirement accounts.
See Also: Systematic Risk
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