National Bank (NYSE:NBHC) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler began coverage on shares of National Bank (NYSE:NBHC) in a research report released on Wednesday, Marketbeat reports. The firm issued an overweight rating and a $48.00 price objective on the financial services provider’s stock.

NBHC has been the subject of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of National Bank in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of National Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Zacks Research raised shares of National Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, DA Davidson reiterated a “buy” rating and issued a $48.00 target price on shares of National Bank in a research note on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, National Bank currently has an average rating of “Moderate Buy” and a consensus price target of $45.80.

National Bank Price Performance

Shares of NYSE:NBHC opened at $38.75 on Wednesday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 13.60 and a beta of 0.79. The business has a 50 day moving average price of $40.38 and a 200 day moving average price of $38.91. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. National Bank has a twelve month low of $32.83 and a twelve month high of $42.99.

National Bank (NYSE:NBHC) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.27). National Bank had a return on equity of 8.65% and a net margin of 18.66%.The business had revenue of $99.08 million during the quarter, compared to the consensus estimate of $107.48 million. During the same period in the prior year, the firm earned $0.86 earnings per share. Research analysts predict that National Bank will post 3.31 earnings per share for the current year.

National Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, February 27th. This is a boost from National Bank’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.3%. National Bank’s dividend payout ratio (DPR) is 44.91%.

Insider Activity at National Bank

In other news, insider John Steinmetz bought 24,200 shares of National Bank stock in a transaction dated Wednesday, February 11th. The shares were bought at an average price of $41.41 per share, for a total transaction of $1,002,122.00. Following the purchase, the insider owned 536,504 shares of the company’s stock, valued at approximately $22,216,630.64. This trade represents a 4.72% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On National Bank

Institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund increased its position in National Bank by 336.6% in the third quarter. New York State Common Retirement Fund now owns 56,373 shares of the financial services provider’s stock worth $2,178,000 after purchasing an additional 43,462 shares during the period. JPMorgan Chase & Co. raised its holdings in National Bank by 62.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 231,916 shares of the financial services provider’s stock worth $8,961,000 after purchasing an additional 88,876 shares during the last quarter. AlphaQuest LLC lifted its position in National Bank by 110.4% during the 3rd quarter. AlphaQuest LLC now owns 43,045 shares of the financial services provider’s stock valued at $1,663,000 after purchasing an additional 22,583 shares during the period. Y Intercept Hong Kong Ltd lifted its position in National Bank by 97.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 80,567 shares of the financial services provider’s stock valued at $3,113,000 after purchasing an additional 39,848 shares during the period. Finally, Deprince Race & Zollo Inc. bought a new position in shares of National Bank in the 3rd quarter valued at about $14,240,000. 92.65% of the stock is owned by institutional investors.

National Bank Company Profile

National Bank Holdings Corporation (NYSE: NBHC) is a diversified financial services holding company headquartered in Cape Girardeau, Missouri. Through its network of community bank subsidiaries, the company provides deposit, lending and payment solutions to consumer, small business and commercial clients across multiple U.S. markets.

Since its founding in 1992, National Bank Holdings has pursued a growth strategy focused on acquiring and integrating locally branded community banks. Its footprint spans the Midwest and Southern United States, including Missouri, Kansas, Oklahoma, Texas, Colorado, Illinois and Tennessee.