National Bank (NYSE:NBHC) Receives Buy Rating from DA Davidson

DA Davidson reaffirmed their buy rating on shares of National Bank (NYSE:NBHC) in a research report report published on Monday morning,Benzinga reports. DA Davidson currently has a $46.00 price objective on the financial services provider’s stock.

Several other brokerages have also commented on NBHC. Wall Street Zen lowered National Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Piper Sandler began coverage on National Bank in a research note on Wednesday, March 25th. They set an “overweight” rating and a $48.00 price target on the stock. Weiss Ratings upgraded National Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 30th. Finally, Zacks Research upgraded National Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.40.

National Bank Stock Up 1.4%

NYSE:NBHC opened at $40.12 on Monday. National Bank has a twelve month low of $32.83 and a twelve month high of $42.99. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 14.08 and a beta of 0.78. The stock has a fifty day simple moving average of $40.10 and a 200-day simple moving average of $38.93. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.04.

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

National Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, February 27th. This is an increase from National Bank’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 3.2%. National Bank’s dividend payout ratio is 44.91%.

Insiders Place Their Bets

In related news, insider John Steinmetz acquired 24,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were bought at an average price of $41.41 per share, with a total value of $1,002,122.00. Following the completion of the transaction, the insider directly owned 536,504 shares in the company, valued at $22,216,630.64. This trade represents a 4.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On National Bank

Institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund boosted its holdings 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 acquiring an additional 43,462 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in National Bank by 62.1% in the third quarter. JPMorgan Chase & Co. now owns 231,916 shares of the financial services provider’s stock worth $8,961,000 after acquiring an additional 88,876 shares in the last quarter. AlphaQuest LLC boosted its holdings in National Bank by 110.4% in the third quarter. AlphaQuest LLC now owns 43,045 shares of the financial services provider’s stock worth $1,663,000 after acquiring an additional 22,583 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in National Bank by 97.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 80,567 shares of the financial services provider’s stock worth $3,113,000 after acquiring an additional 39,848 shares in the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new stake in National Bank in the third quarter worth about $14,240,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

About National Bank

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.