Corebridge Financial Inc. Sells 381 Shares of National Bank Holdings Corporation $NBHC

Corebridge Financial Inc. decreased its holdings in National Bank Holdings Corporation (NYSE:NBHC) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,307 shares of the financial services provider’s stock after selling 381 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of National Bank worth $739,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NBHC. Nuveen LLC bought a new stake in shares of National Bank in the first quarter worth $21,123,000. Westwood Holdings Group Inc. lifted its holdings in National Bank by 30.1% in the first quarter. Westwood Holdings Group Inc. now owns 1,450,227 shares of the financial services provider’s stock valued at $55,500,000 after buying an additional 335,741 shares during the period. Boston Partners lifted its holdings in National Bank by 40.6% in the first quarter. Boston Partners now owns 567,150 shares of the financial services provider’s stock valued at $21,702,000 after buying an additional 163,895 shares during the period. Victory Capital Management Inc. lifted its holdings in National Bank by 2.6% in the first quarter. Victory Capital Management Inc. now owns 2,851,786 shares of the financial services provider’s stock valued at $109,138,000 after buying an additional 72,805 shares during the period. Finally, AlphaQuest LLC lifted its holdings in National Bank by 29,422.8% in the first quarter. AlphaQuest LLC now owns 42,808 shares of the financial services provider’s stock valued at $1,638,000 after buying an additional 42,663 shares during the period. Institutional investors own 92.65% of the company’s stock.

National Bank Price Performance

Shares of NYSE NBHC opened at $39.12 on Friday. The firm’s 50-day moving average price is $38.68 and its 200-day moving average price is $37.87. National Bank Holdings Corporation has a 1-year low of $32.83 and a 1-year high of $51.76. The firm has a market capitalization of $1.49 billion, a P/E ratio of 12.62 and a beta of 0.78. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18.

National Bank (NYSE:NBHC) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. National Bank had a net margin of 20.02% and a return on equity of 9.44%. The firm had revenue of $104.48 million for the quarter, compared to analyst estimates of $110.36 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that National Bank Holdings Corporation will post 3.31 earnings per share for the current fiscal year.

National Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $-0.30 per share. The ex-dividend date is Friday, August 29th. This represents a ($1.20) annualized dividend and a dividend yield of -3.1%. National Bank’s dividend payout ratio is currently 38.71%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. DA Davidson boosted their target price on shares of National Bank from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of National Bank from a “strong sell” rating to a “hold” rating in a report on Saturday, July 26th. Hovde Group boosted their target price on shares of National Bank from $39.00 to $42.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Finally, Zacks Research upgraded shares of National Bank from a “hold” rating to a “strong-buy” rating in a report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.20.

National Bank 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.