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

National Bank (NYSE:NBHC) had its price objective reduced by research analysts at Hovde Group from $45.00 to $40.50 in a note issued to investors on Monday, Briefing.com reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price target suggests a potential upside of 20.90% from the stock’s current price.

NBHC has been the subject of a number of other reports. Piper Sandler upped their price target on National Bank from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $39.00 price objective (down previously from $40.00) on shares of National Bank in a research note on Friday. StockNews.com downgraded National Bank from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, TheStreet cut National Bank from a “b” rating to a “c+” rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.63.

National Bank Stock Performance

Shares of NBHC opened at $33.50 on Monday. National Bank has a 1 year low of $26.48 and a 1 year high of $38.71. The stock has a market capitalization of $1.27 billion, a PE ratio of 9.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50-day simple moving average of $34.14 and a 200-day simple moving average of $34.14.

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

Institutional Investors Weigh In On National Bank

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in shares of National Bank by 0.3% in the third quarter. Rhumbline Advisers now owns 110,814 shares of the financial services provider’s stock valued at $3,298,000 after buying an additional 331 shares in the last quarter. Swiss National Bank raised its stake in National Bank by 1.2% in the 3rd quarter. Swiss National Bank now owns 66,400 shares of the financial services provider’s stock valued at $1,976,000 after purchasing an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in National Bank by 15.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,924 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 1,067 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of National Bank by 8.1% during the fourth quarter. Natixis Advisors L.P. now owns 14,693 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in National Bank by 18.2% in the 4th quarter. Teacher Retirement System of Texas now owns 10,938 shares of the financial services provider’s stock valued at $407,000 after buying an additional 1,687 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

National Bank Company Profile

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.