National Bank (NYSE:NBHC) Stock Rating Cut to Strong Sell at Zacks Research

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

Several other analysts also recently issued reports on NBHC. Weiss Ratings downgraded National Bank from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Stephens downgraded 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, Piper Sandler lowered their target price on shares of National Bank from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, National Bank presently has a consensus rating of “Hold” and a consensus price target of $47.67.

National Bank Trading Up 0.3%

Shares of NYSE:NBHC opened at $39.99 on Wednesday. National Bank has a 12-month low of $35.06 and a 12-month high of $47.28. 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 firm has a market capitalization of $1.78 billion, a P/E ratio of 16.80 and a beta of 0.77. The firm has a fifty day moving average of $42.29 and a two-hundred day moving average of $42.01.

National Bank (NYSE:NBHC) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The firm had revenue of $129.94 million during the quarter, compared to analysts’ expectations of $135.08 million. National Bank had a net margin of 15.11% and a return on equity of 8.35%. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. On average, equities analysts expect that National Bank will post 3.35 EPS for the current fiscal year.

National Bank Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 28th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, August 28th. National Bank’s dividend payout ratio (DPR) is presently 53.78%.

Institutional Trading of National Bank

A number of institutional investors and hedge funds have recently modified their holdings of NBHC. Dimensional Fund Advisors LP lifted its position in National Bank by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,100,944 shares of the financial services provider’s stock worth $82,271,000 after purchasing an additional 40,669 shares during the period. Kennedy Capital Management LLC lifted its holdings in shares of National Bank by 39.0% during the 4th quarter. Kennedy Capital Management LLC now owns 505,333 shares of the financial services provider’s stock worth $19,208,000 after acquiring an additional 141,726 shares during the period. Bank of New York Mellon Corp boosted its position in shares of 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 valued at $13,461,000 after acquiring an additional 11,010 shares in the last quarter. Sei Investments Co. increased its stake in National Bank by 5.9% in the first quarter. Sei Investments Co. now owns 337,005 shares of the financial services provider’s stock valued at $13,197,000 after acquiring an additional 18,785 shares during the period. Finally, North Reef Capital Management LP acquired a new position in National Bank in the first quarter worth about $12,545,000. 92.65% of the stock is currently owned by institutional investors.

National Bank Company Profile

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

NBH Bank offers commercial and small-business lending, personal and business deposit accounts, mortgage and consumer loans, treasury management, digital banking and wealth management services. Its products are designed to support commercial clients, professionals, entrepreneurs and retail customers.

The company serves customers through a network of banking locations and digital channels in several markets across the central and western United States, including Colorado, Kansas, Missouri, New Mexico, Texas and Wyoming.