National Bank (NYSE:NBHC) Shares Gap Down Following Weak Earnings

National Bank Holdings Co. (NYSE:NBHC) gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $36.62, but opened at $33.75. National Bank shares last traded at $35.88, with a volume of 45,310 shares.

The financial services provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.13). National Bank had a return on equity of 9.76% and a net margin of 19.82%. The firm had revenue of $102.07 million during the quarter, compared to analyst estimates of $107.47 million. During the same quarter in the prior year, the firm earned $0.82 EPS.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com lowered National Bank from a “hold” rating to a “sell” rating in a research report on Wednesday. DA Davidson decreased their target price on shares of National Bank from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Hovde Group reduced their target price on shares of National Bank from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.80.

Institutional Investors Weigh In On National Bank

Several institutional investors and hedge funds have recently bought and sold shares of NBHC. Vanguard Group Inc. increased its position in shares of National Bank by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 4,230,384 shares of the financial services provider’s stock worth $182,160,000 after purchasing an additional 35,910 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in National Bank by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,089,730 shares of the financial services provider’s stock worth $89,984,000 after acquiring an additional 32,983 shares in the last quarter. Geode Capital Management LLC increased its stake in National Bank by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 861,483 shares of the financial services provider’s stock worth $36,276,000 after purchasing an additional 9,723 shares in the last quarter. Principal Financial Group Inc. increased its holdings in National Bank by 36.1% during the 3rd quarter. Principal Financial Group Inc. now owns 786,096 shares of the financial services provider’s stock worth $33,095,000 after purchasing an additional 208,303 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in National Bank by 7.3% in the 4th quarter. Northern Trust Corp now owns 440,106 shares of the financial services provider’s stock valued at $18,951,000 after acquiring an additional 29,823 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

National Bank Stock Down 6.5 %

The stock has a market capitalization of $1.30 billion, a P/E ratio of 11.08 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.94 and a current ratio of 0.95. The firm’s 50-day simple moving average is $38.40 and its 200 day simple moving average is $42.54.

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.