Piper Sandler Cuts National Bank (NYSE:NBHC) Price Target to $49.00

National Bank (NYSE:NBHC) had its target price trimmed by Piper Sandler from $51.00 to $49.00 in a report issued on Thursday morning, MarketBeat reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

NBHC has been the topic of a number of other reports. Zacks Research downgraded shares of National Bank from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 23rd. Stephens lowered shares of National Bank from an “overweight” rating to an “equal weight” rating and set a $46.00 price target on the stock. in a report on Thursday, August 6th. Finally, Weiss Ratings cut shares of National Bank from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $47.00.

National Bank Stock Performance

NYSE NBHC opened at $38.09 on Thursday. The firm has a market cap of $1.70 billion, a P/E ratio of 16.00 and a beta of 0.84. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $41.64 and its 200-day moving average is $41.99. National Bank has a 12-month low of $35.06 and a 12-month high of $47.28.

National Bank (NYSE:NBHC) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The company had revenue of $129.94 million for the quarter, compared to analysts’ expectations of $135.08 million. National Bank had a return on equity of 8.35% and a net margin of 15.11%.The business’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. Sell-side analysts predict that National Bank will post 3.29 earnings per share for the current year.

National Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 28th. National Bank’s payout ratio is presently 53.78%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc boosted its holdings in shares of National Bank by 108.7% during the 3rd quarter. Versant Capital Management Inc now owns 887 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 462 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of National Bank during the second quarter valued at approximately $433,000. Integrated Wealth Concepts LLC purchased a new position in shares of National Bank during the second quarter valued at approximately $90,000. Squarepoint Ops LLC lifted its position in National Bank by 31.3% during the second quarter. Squarepoint Ops LLC now owns 16,655 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 3,974 shares during the period. Finally, Arizona State Retirement System lifted its position in National Bank by 9.8% during the second quarter. Arizona State Retirement System now owns 11,407 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 1,020 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

National Bank Company Profile

National Bank Holdings Corporation (NYSE: NBHC) is a bank holding company headquartered in Greenwood Village, Colorado. Through its banking subsidiary, NBH Bank, the company provides community banking services to individuals, families, businesses and institutions.

Its products and services include checking and savings accounts, certificates of deposit, consumer and residential lending, commercial and industrial loans, commercial real estate financing, treasury management, wealth management and other financial services.