Piper Sandler Lowers National Bank (NYSE:NBHC) to Neutral

Piper Sandler cut shares of National Bank (NYSE:NBHC) from an overweight rating to a neutral rating in a report released on Thursday morning, MarketBeat reports. They currently have $46.00 target price on the financial services provider’s stock, up from their prior target price of $42.00.

A number of other equities research analysts also recently weighed in on NBHC. Hovde Group reduced their price target on shares of National Bank from $45.00 to $40.50 and set an outperform rating on the stock in a research note on Monday, April 29th. Keefe, Bruyette & Woods reissued a market perform rating and issued a $39.00 price objective (down from $40.00) on shares of National Bank in a research report on Friday, April 26th. DA Davidson upped their target price on National Bank from $42.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, July 2nd. Finally, StockNews.com lowered National Bank from a hold rating to a sell rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $45.20.

National Bank Stock Up 0.8 %

Shares of NYSE NBHC opened at $43.33 on Thursday. The stock has a market capitalization of $1.64 billion, a P/E ratio of 12.45 and a beta of 0.86. The stock’s fifty day moving average is $38.77 and its 200 day moving average is $35.99. National Bank has a 52 week low of $28.38 and a 52 week high of $46.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.93.

National Bank (NYSE:NBHC) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The business had revenue of $99.31 million for the quarter, compared to analyst estimates of $102.96 million. National Bank had a return on equity of 10.44% and a net margin of 21.40%. National Bank’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. Sell-side analysts forecast that National Bank will post 2.99 earnings per share for the current fiscal year.

National Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.28 per share. This is an increase from National Bank’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Friday, May 31st. National Bank’s dividend payout ratio is 32.18%.

Institutional Investors Weigh In On National Bank

A number of hedge funds have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in shares of National Bank by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the financial services provider’s stock worth $742,000 after purchasing an additional 300 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of National Bank by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 33,069 shares of the financial services provider’s stock valued at $1,193,000 after buying an additional 449 shares during the last quarter. ProShare Advisors LLC increased its position in shares of National Bank by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,450 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 513 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of National Bank by 15.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,924 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 1,067 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in National Bank by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 30,130 shares of the financial services provider’s stock valued at $1,086,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors and hedge funds 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.