Private Trust Co. NA Boosts Holdings in National Bankshares, Inc. (NASDAQ:NKSH)

Private Trust Co. NA lifted its stake in shares of National Bankshares, Inc. (NASDAQ:NKSH) by 16.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,500 shares of the bank’s stock after acquiring an additional 500 shares during the period. Private Trust Co. NA’s holdings in National Bankshares were worth $105,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of National Bankshares by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,268 shares of the bank’s stock valued at $486,000 after purchasing an additional 550 shares during the last quarter. Eagle Ridge Investment Management acquired a new position in National Bankshares in the third quarter valued at $211,000. Sanctuary Advisors LLC purchased a new stake in National Bankshares during the second quarter valued at about $226,000. Brandes Investment Partners LP increased its stake in National Bankshares by 14.4% during the second quarter. Brandes Investment Partners LP now owns 135,937 shares of the bank’s stock worth $3,839,000 after acquiring an additional 17,149 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in National Bankshares by 2.4% during the second quarter. Renaissance Technologies LLC now owns 21,370 shares of the bank’s stock worth $604,000 after acquiring an additional 500 shares during the last quarter. 29.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NKSH. StockNews.com upgraded National Bankshares from a “sell” rating to a “hold” rating in a report on Monday, November 25th. Janney Montgomery Scott upgraded shares of National Bankshares from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Friday, November 22nd.

National Bankshares Price Performance

Shares of NKSH opened at $32.10 on Friday. National Bankshares, Inc. has a 12 month low of $25.91 and a 12 month high of $37.00. The stock’s 50-day moving average is $30.23 and its two-hundred day moving average is $29.88. The stock has a market cap of $204.19 million, a PE ratio of 22.14 and a beta of 0.56.

National Bankshares Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be issued a $0.78 dividend. This represents a yield of 5%. The ex-dividend date is Monday, November 25th. This is a boost from National Bankshares’s previous semi-annual dividend of $0.55. National Bankshares’s dividend payout ratio is currently 107.59%.

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.