National Bank (NYSE:NBHC) Shares Gap Down After Earnings Miss

National Bank Holdings Corporation (NYSE:NBHC)’s stock price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $45.67, but opened at $43.58. National Bank shares last traded at $43.56, with a volume of 91,543 shares changing hands.

The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.03). The firm had revenue of $129.06 million during the quarter, compared to the consensus estimate of $135.08 million. National Bank had a net margin of 15.11% and a return on equity of 8.63%. National Bank’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 earnings per share.

National Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a dividend of $0.32 per share. The ex-dividend date was Friday, May 29th. This represents a $1.28 annualized dividend and a dividend yield of 2.9%. National Bank’s dividend payout ratio (DPR) is currently 47.76%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. DA Davidson restated a “buy” rating and set a $46.00 price objective on shares of National Bank in a research report on Wednesday, April 22nd. Weiss Ratings raised National Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 24th. Piper Sandler lifted their price target on National Bank from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, Wall Street Zen raised National Bank from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.20.

Hedge Funds Weigh In On National Bank

Several large investors have recently bought and sold shares of NBHC. Meeder Asset Management Inc. bought a new stake in shares of National Bank during the fourth quarter worth about $48,000. Global Retirement Partners LLC bought a new position in National Bank in the 4th quarter valued at approximately $66,000. State of Wyoming acquired a new stake in National Bank during the 4th quarter worth approximately $69,000. Quarry LP boosted its position in National Bank by 50.8% during the 3rd quarter. Quarry LP now owns 1,819 shares of the financial services provider’s stock worth $70,000 after buying an additional 613 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in National Bank by 17.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,283 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 499 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

National Bank Stock Down 4.5%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day simple moving average is $43.29 and its two-hundred day simple moving average is $41.58. The stock has a market capitalization of $1.95 billion, a P/E ratio of 18.33 and a beta of 0.78.

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.