Zacks Investment Research Downgrades National Bank (NBHC) to Hold
Zacks Investment Research downgraded shares of National Bank (NYSE:NBHC) from a buy rating to a hold rating in a report issued on Wednesday.
According to Zacks, “National Bank Holdings Corporation is a bank holding company operating full-service banking centers, with the majority of those banking centers located in Colorado and the greater Kansas City region. The Company, through its subsidiaries, provides services through community banking franchises serving the needs of retail and business customers. National Bank Holdings Corporation is based in Greenwood Village, Colorado. “
A number of other equities analysts have also commented on the company. Stephens set a $41.00 price target on National Bank and gave the company a hold rating in a research note on Tuesday, October 23rd. Hovde Group set a $40.00 price target on National Bank and gave the company a hold rating in a research note on Monday, July 30th. Finally, Piper Jaffray Companies increased their price target on National Bank from $36.00 to $40.00 and gave the company a neutral rating in a research note on Friday, July 27th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $40.17.
National Bank (NYSE:NBHC) last announced its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. National Bank had a return on equity of 9.62% and a net margin of 12.64%. The company had revenue of $68.96 million during the quarter, compared to analyst estimates of $70.79 million. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s revenue was up 40.8% on a year-over-year basis. As a group, equities research analysts forecast that National Bank will post 2.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.93%. This is a positive change from National Bank’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, November 29th. National Bank’s dividend payout ratio (DPR) is presently 44.44%.
In other news, Director Maria F. Spring sold 9,216 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $40.49, for a total value of $373,155.84. Following the completion of the sale, the director now directly owns 29,649 shares of the company’s stock, valued at approximately $1,200,488.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Dean sold 3,771 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $39.50, for a total value of $148,954.50. Following the completion of the sale, the director now directly owns 21,814 shares of the company’s stock, valued at $861,653. The disclosure for this sale can be found here. Insiders sold a total of 21,225 shares of company stock valued at $855,558 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of National Bank by 9.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,051,509 shares of the financial services provider’s stock valued at $39,590,000 after purchasing an additional 94,249 shares during the last quarter. Piermont Capital Management Inc. bought a new stake in shares of National Bank in the 3rd quarter valued at approximately $1,424,000. WINTON GROUP Ltd lifted its stake in shares of National Bank by 78.5% in the 3rd quarter. WINTON GROUP Ltd now owns 14,976 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 6,587 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of National Bank by 12.3% in the 3rd quarter. Wells Fargo & Company MN now owns 44,520 shares of the financial services provider’s stock valued at $1,676,000 after purchasing an additional 4,882 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in shares of National Bank in the third quarter worth approximately $1,779,000. 93.69% of the stock is owned by institutional investors and hedge funds.
National Bank Company Profile
National Bank Holdings Corporation operates as the bank holding company for NBH Bank, N.A. that provides various banking products and financial services to commercial, business, and consumer clients in the United States. The company offers deposit products, including checking accounts, savings accounts, money market accounts, and other deposit accounts, including fixed-rate and fixed maturity time deposits.
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