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

StockNews.com downgraded shares of National Bank (NYSE:NBHC) from a hold rating to a sell rating in a research note released on Sunday morning.

NBHC has been the topic of a number of other research reports. Keefe, Bruyette & Woods reissued a market perform rating and issued a $39.00 price target (down previously from $40.00) on shares of National Bank in a report on Friday, April 26th. Piper Sandler raised their target price on National Bank from $40.00 to $41.00 and gave the stock an overweight rating in a research note on Thursday, January 25th. Finally, TheStreet lowered National Bank from a b rating to a c+ rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $38.63.

National Bank Trading Down 1.9 %

NYSE NBHC opened at $32.73 on Friday. The firm has a market cap of $1.24 billion, a PE ratio of 9.41 and a beta of 0.84. National Bank has a 1-year low of $26.48 and a 1-year high of $38.71. The stock has a 50-day moving average of $34.10 and a 200-day moving average of $34.18. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.04.

National Bank (NYSE:NBHC) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The business had revenue of $149.43 million for the quarter, compared to analysts’ expectations of $101.98 million. National Bank had a return on equity of 11.20% and a net margin of 22.94%. During the same period in the previous year, the firm earned $1.06 EPS. As a group, sell-side analysts forecast that National Bank will post 3.33 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP grew its stake in National Bank by 2,352.0% in the third quarter. Quantbot Technologies LP now owns 4,904 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 4,704 shares during the period. Quest Partners LLC bought a new position in shares of National Bank in the 4th quarter worth about $194,000. Everence Capital Management Inc. purchased a new position in National Bank during the 4th quarter valued at about $244,000. Mutual of America Capital Management LLC bought a new stake in National Bank during the fourth quarter worth about $246,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in National Bank by 45.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,857 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 2,145 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.