National Bankshares (NASDAQ:NKSH) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

National Bankshares (NASDAQ:NKSH) issued its earnings results on Thursday. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.13, 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 during the quarter, compared to the consensus estimate of $14.50 million.

National Bankshares Stock Performance

Shares of NASDAQ:NKSH opened at $36.61 on Friday. National Bankshares has a 52-week low of $24.74 and a 52-week high of $40.00. The business’s 50 day simple moving average is $37.17 and its two-hundred day simple moving average is $33.85. The firm has a market cap of $233.21 million, a P/E ratio of 14.76 and a beta of 0.69.

Hedge Funds Weigh In On National Bankshares

A number of institutional investors have recently modified their holdings of NKSH. State of Wyoming acquired a new stake in National Bankshares in the 2nd quarter valued at $36,000. Tower Research Capital LLC TRC raised its holdings in National Bankshares by 398.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,746 shares of the bank’s stock worth $47,000 after buying an additional 1,396 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of National Bankshares by 45.2% in the third quarter. BNP Paribas Financial Markets now owns 2,067 shares of the bank’s stock valued at $61,000 after buying an additional 643 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of National Bankshares by 266.9% in the third quarter. Larson Financial Group LLC now owns 4,183 shares of the bank’s stock valued at $123,000 after buying an additional 3,043 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of National Bankshares by 209.9% during the fourth quarter. Royal Bank of Canada now owns 4,305 shares of the bank’s stock valued at $144,000 after buying an additional 2,916 shares during the last quarter. 29.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NKSH. Wall Street Zen upgraded National Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings upgraded shares of National Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

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.