National Bank (NYSE:NBHC) Cut to “Equal Weight” at Stephens

Stephens lowered shares of National Bank (NYSE:NBHC) from an overweight rating to an equal weight rating in a research note published on Thursday, Marketbeat reports. The brokerage currently has $46.00 price target on the financial services provider’s stock.

Several other analysts have also issued reports on NBHC. Weiss Ratings upgraded National Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 24th. DA Davidson restated a “buy” rating and issued a $46.00 price target on shares of National Bank in a research note on Wednesday, April 22nd. Piper Sandler dropped their price objective on National Bank from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Finally, Wall Street Zen upgraded National Bank from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

National Bank Trading Down 0.3%

NYSE:NBHC opened at $42.70 on Thursday. The company has a market cap of $1.91 billion, a P/E ratio of 17.94 and a beta of 0.79. National Bank has a twelve month low of $35.06 and a twelve month high of $47.28. The business has a 50 day moving average price of $43.58 and a two-hundred day moving average price of $41.84. 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 posted 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). National Bank had a net margin of 15.11% and a return on equity of 8.35%. The business had revenue of $129.94 million during the quarter, compared to analyst estimates of $135.08 million. During the same quarter last year, the business earned $0.88 earnings per share. National Bank’s revenue for the quarter was up 23.4% on a year-over-year basis. As a group, analysts expect that National Bank will post 3.35 EPS for the current fiscal year.

National Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, August 28th. This represents a $1.28 annualized dividend and a yield of 3.0%. National Bank’s dividend payout ratio (DPR) is 53.78%.

Hedge Funds Weigh In On National Bank

Several institutional investors and hedge funds have recently made changes to their positions in NBHC. Deprince Race & Zollo Inc. boosted its holdings in shares of National Bank by 215.4% during the 4th 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 in the last quarter. North Reef Capital Management LP bought a new stake in shares of National Bank in the 1st quarter valued at $12,545,000. AQR Capital Management LLC increased its stake in shares of National Bank by 138.9% in the 4th quarter. AQR Capital Management LLC now owns 430,078 shares of the financial services provider’s stock valued at $16,347,000 after acquiring an additional 250,088 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of National Bank by 143.3% during the 4th quarter. Russell Investments Group Ltd. now owns 405,164 shares of the financial services provider’s stock valued at $15,400,000 after acquiring an additional 238,642 shares during the period. Finally, Millennium Management LLC lifted its position in shares of National Bank by 2,057.9% during the 1st quarter. Millennium Management LLC now owns 199,453 shares of the financial services provider’s stock valued at $7,633,000 after acquiring an additional 190,210 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

National Bank Company 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.