Hovde Group Lowers National Bank (NYSE:NBHC) Price Target to $40.50

National Bank (NYSE:NBHC) had its price target cut by investment analysts at Hovde Group from $45.00 to $40.50 in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s target price points to a potential upside of 23.74% from the stock’s previous close.

Several other research analysts have also commented on NBHC. Piper Sandler increased their price target on shares of National Bank from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. StockNews.com lowered shares of National Bank from a “hold” rating to a “sell” rating in a research note on Sunday. TheStreet lowered shares of National Bank from a “b” rating to a “c+” rating in a research report on Monday, March 18th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $39.00 price target (down from $40.00) on shares of National Bank in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $38.63.

National Bank Stock Performance

Shares of National Bank stock opened at $32.73 on Monday. The firm has a market cap of $1.24 billion, a PE ratio of 9.41 and a beta of 0.84. National Bank has a 1 year low of $26.48 and a 1 year high of $38.71. The firm’s 50-day simple moving average is $34.10 and its 200-day simple moving average is $34.18. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.91 and a current ratio of 0.91.

National Bank (NYSE:NBHC) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03. National Bank had a net margin of 22.94% and a return on equity of 11.20%. The business had revenue of $149.43 million during the quarter, compared to analysts’ expectations of $101.98 million. During the same period last year, the firm posted $1.06 earnings per share. Equities analysts forecast that National Bank will post 3.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On National Bank

Several institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its position in shares of National Bank by 2,352.0% during the third quarter. Quantbot Technologies LP now owns 4,904 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 4,704 shares in the last quarter. Quest Partners LLC bought a new stake in shares of National Bank during the fourth quarter worth approximately $194,000. Everence Capital Management Inc. bought a new stake in shares of National Bank during the fourth quarter worth approximately $244,000. Mutual of America Capital Management LLC bought a new stake in shares of National Bank during the fourth quarter worth approximately $246,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of National Bank by 45.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,857 shares of the financial services provider’s stock worth $204,000 after buying an additional 2,145 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

About National Bank

National Bank Holdings Corporation operates as the bank holding company for NBH Bank that provides various banking products and financial services to commercial, business, and consumer clients in the United States. It offers deposit products, including checking, savings, money market, and other deposit accounts, including fixed-rate and fixed maturity time deposits.