StockNews.com Downgrades National Bank (NYSE:NBHC) to Sell

StockNews.com cut shares of National Bank (NYSE:NBHC) from a hold rating to a sell rating in a research report sent to investors on Friday.

Several other equities analysts also recently commented on the company. TheStreet downgraded National Bank from a b rating to a c+ rating in a research note on Monday, March 18th. Piper Sandler increased their price target on National Bank from $40.00 to $41.00 and gave the stock an overweight rating in a research note on Thursday, January 25th.

National Bank Stock Up 0.3 %

NBHC stock opened at $33.29 on Friday. The stock has a market cap of $1.26 billion, a P/E ratio of 8.95 and a beta of 0.84. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33. The stock’s fifty day simple moving average is $34.24 and its two-hundred day simple moving average is $33.90. National Bank has a 1-year low of $26.48 and a 1-year high of $38.71.

National Bank (NYSE:NBHC) last posted its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $107.23 million during the quarter, compared to analyst estimates of $103.96 million. National Bank had a net margin of 25.40% and a return on equity of 12.20%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Analysts expect that National Bank will post 3.33 EPS for the current year.

National Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.08 annualized dividend and a dividend yield of 3.24%. National Bank’s dividend payout ratio is currently 29.03%.

Hedge Funds Weigh In On National Bank

Several hedge funds have recently made changes to their positions in NBHC. Jackson Hole Capital Partners LLC purchased a new position in shares of National Bank during the 4th quarter valued at $17,537,000. T. Rowe Price Investment Management Inc. grew its position in National Bank by 13.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,054,198 shares of the financial services provider’s stock worth $128,491,000 after buying an additional 350,353 shares in the last quarter. Wellington Management Group LLP increased its stake in National Bank by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,665,586 shares of the financial services provider’s stock worth $109,088,000 after acquiring an additional 298,140 shares during the last quarter. State Street Corp raised its holdings in shares of National Bank by 18.0% in the 1st quarter. State Street Corp now owns 1,652,997 shares of the financial services provider’s stock valued at $55,309,000 after acquiring an additional 251,747 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of National Bank by 1,015.3% during the 4th quarter. Hsbc Holdings PLC now owns 235,268 shares of the financial services provider’s stock valued at $8,754,000 after acquiring an additional 214,174 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

About National Bank

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.