National Bankshares, Inc. (NASDAQ:NKSH) Increases Dividend to $0.78 Per Share

National Bankshares, Inc. (NASDAQ:NKSH) announced a semi-annual dividend on Wednesday, November 13th,NASDAQ Dividends reports. Shareholders of record on Monday, November 25th will be paid a dividend of 0.78 per share by the bank on Monday, December 2nd. This represents a yield of 5%. The ex-dividend date of this dividend is Monday, November 25th. This is an increase from National Bankshares’s previous semi-annual dividend of $0.55.

National Bankshares has raised its dividend by an average of 2.8% per year over the last three years. National Bankshares has a payout ratio of 58.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect National Bankshares to earn $2.65 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 58.9%.

National Bankshares Stock Performance

NKSH opened at $32.04 on Friday. National Bankshares has a one year low of $25.18 and a one year high of $37.00. The company has a market cap of $203.77 million, a P/E ratio of 22.10 and a beta of 0.56. The business’s 50-day simple moving average is $30.06 and its 200-day simple moving average is $29.80.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded shares of National Bankshares from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Friday.

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.