Jacobs Asset Management LLC Reduces Stake in National Bank Holdings Corporation $NBHC

Jacobs Asset Management LLC reduced its position in shares of National Bank Holdings Corporation (NYSE:NBHC) by 35.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 120,000 shares of the financial services provider’s stock after selling 65,000 shares during the quarter. National Bank accounts for approximately 2.8% of Jacobs Asset Management LLC’s holdings, making the stock its 15th biggest position. Jacobs Asset Management LLC owned about 0.27% of National Bank worth $4,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Deprince Race & Zollo Inc. boosted its holdings in shares of National Bank by 215.4% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,162,432 shares of the financial services provider’s stock worth $44,184,000 after buying an additional 793,902 shares during the last quarter. AQR Capital Management LLC increased its holdings in National Bank by 138.9% during the fourth quarter. AQR Capital Management LLC now owns 430,078 shares of the financial services provider’s stock valued at $16,347,000 after buying an additional 250,088 shares during the last quarter. Russell Investments Group Ltd. raised its position in National Bank by 143.3% in the fourth quarter. Russell Investments Group Ltd. now owns 405,164 shares of the financial services provider’s stock worth $15,400,000 after acquiring an additional 238,642 shares during the period. Millennium Management LLC raised its position in National Bank by 2,057.9% in the first quarter. Millennium Management LLC now owns 199,453 shares of the financial services provider’s stock worth $7,633,000 after acquiring an additional 190,210 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of National Bank by 146.3% during the 3rd quarter. Two Sigma Investments LP now owns 304,987 shares of the financial services provider’s stock worth $11,785,000 after acquiring an additional 181,137 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

National Bank Price Performance

NBHC stock opened at $43.40 on Friday. National Bank Holdings Corporation has a one year low of $35.06 and a one year high of $47.28. The company’s fifty day moving average price is $43.38 and its 200-day moving average price is $41.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.95 and a current ratio of 0.97. The company has a market capitalization of $1.94 billion, a PE ratio of 18.24 and a beta of 0.78.

National Bank (NYSE:NBHC) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The company had revenue of $129.06 million for the quarter, compared to the consensus estimate of $135.08 million. National Bank had a return on equity of 8.35% and a net margin of 15.11%.National Bank’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 EPS. On average, equities analysts anticipate that National Bank Holdings Corporation will post 3.41 EPS for the current fiscal year.

National Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 29th. National Bank’s dividend payout ratio is 53.78%.

Analyst Ratings Changes

NBHC has been the subject of several analyst reports. Weiss Ratings upgraded National Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. DA Davidson reissued a “buy” rating and set a $46.00 price target on shares of National Bank in a report on Wednesday, April 22nd. Stephens reduced their price target on National Bank from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler raised their price objective on National Bank from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Wall Street Zen raised National Bank from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, National Bank has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

National Bank Profile

National Bank Holdings Corporation (NYSE: NBHC) is a diversified financial services holding company headquartered in Cape Girardeau, Missouri. Through its network of community bank subsidiaries, the company provides deposit, lending and payment solutions to consumer, small business and commercial clients across multiple U.S. markets.

Since its founding in 1992, National Bank Holdings has pursued a growth strategy focused on acquiring and integrating locally branded community banks. Its footprint spans the Midwest and Southern United States, including Missouri, Kansas, Oklahoma, Texas, Colorado, Illinois and Tennessee.