National Bank (NYSE:NBHC) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of National Bank (NYSE:NBHC) in a research report report published on Wednesday morning, MarketBeat reports. The firm issued an overweight rating and a $48.00 target price on the financial services provider’s stock.

A number of other research analysts have also issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of National Bank in a research report on Thursday, January 22nd. Zacks Research upgraded shares of National Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. DA Davidson reaffirmed a “buy” rating and set a $48.00 price objective on shares of National Bank in a report on Thursday, February 19th. Finally, Wall Street Zen lowered shares of National Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.80.

National Bank Stock Performance

NYSE NBHC opened at $37.98 on Wednesday. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 13.33 and a beta of 0.79. National Bank has a twelve month low of $32.83 and a twelve month high of $42.99. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $40.28 and a 200 day moving average of $38.90.

National Bank (NYSE:NBHC) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.27). The business had revenue of $99.08 million during the quarter, compared to analyst estimates of $107.48 million. National Bank had a net margin of 18.66% and a return on equity of 8.65%. During the same period in the previous year, the business posted $0.86 earnings per share. Sell-side analysts anticipate that National Bank will post 3.31 EPS for the current fiscal year.

National Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.32 per share. The ex-dividend date was Friday, February 27th. This is a positive change from National Bank’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 3.4%. National Bank’s dividend payout ratio (DPR) is presently 44.91%.

Insider Buying and Selling

In other news, insider John Steinmetz acquired 24,200 shares of National Bank stock in a transaction that occurred on Wednesday, February 11th. The stock was purchased at an average cost of $41.41 per share, with a total value of $1,002,122.00. Following the purchase, the insider owned 536,504 shares in the company, valued at $22,216,630.64. This trade represents a 4.72% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On National Bank

Large investors have recently modified their holdings of the business. Deprince Race & Zollo Inc. lifted its stake 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 in the last quarter. Assenagon Asset Management S.A. purchased a new stake in National Bank during the 3rd quarter valued at about $25,869,000. AQR Capital Management LLC grew its stake in National Bank by 138.9% during 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. raised its holdings in National Bank by 143.3% in 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 last quarter. Finally, Millennium Management LLC raised its holdings in National Bank by 2,057.9% in 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 last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

About National Bank

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.