National Bank (NYSE:NBHC) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of National Bank (NYSE:NBHC) from a strong sell rating to a hold rating in a report issued on Monday,Zacks reports.

Several other research firms have also recently weighed in on NBHC. 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. Stephens downgraded shares of National Bank from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a research report on Thursday, August 6th. DA Davidson reduced their target price on National Bank from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Monday. Finally, Piper Sandler dropped their price objective on National Bank from $51.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, October 1st. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.00.

National Bank Stock Performance

Shares of NYSE:NBHC opened at $38.29 on Monday. National Bank has a 12-month low of $35.06 and a 12-month high of $47.28. The company’s 50 day moving average price is $41.46 and its two-hundred day moving average price is $42.01. The firm has a market cap of $1.71 billion, a PE ratio of 16.09 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.

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

National Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 28th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, August 28th. National Bank’s payout ratio is 53.78%.

Hedge Funds Weigh In On National Bank

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in National Bank by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,100,944 shares of the financial services provider’s stock valued at $82,271,000 after purchasing an additional 40,669 shares during the period. Kennedy Capital Management LLC boosted its position in National Bank by 39.0% during the fourth quarter. Kennedy Capital Management LLC now owns 505,333 shares of the financial services provider’s stock valued at $19,208,000 after acquiring an additional 141,726 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in National Bank by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 343,744 shares of the financial services provider’s stock worth $13,461,000 after acquiring an additional 11,010 shares during the period. Sei Investments Co. raised its position in shares of National Bank by 5.9% in the 1st quarter. Sei Investments Co. now owns 337,005 shares of the financial services provider’s stock worth $13,197,000 after acquiring an additional 18,785 shares in the last quarter. Finally, North Reef Capital Management LP acquired a new position in shares of National Bank in the 1st quarter valued at about $12,545,000. 92.65% of the stock is currently owned by institutional investors.

About National Bank

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.