National Bank (NYSE:NBHC) Given New $45.00 Price Target at Piper Sandler

Key Points

• Piper Sandler lowered National Bank’s price target to $45 from $49 while maintaining an “overweight” rating, implying approximately 21% upside from the current share price.
• Analyst sentiment remains favorable overall, with three Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $44.67.
• National Bank’s latest quarterly results missed expectations, reporting $0.78 in EPS versus $0.81 expected and revenue of $129.94 million versus $135.08 million forecast; institutional investors own 92.65% of the stock.

National Bank (NYSE:NBHC - Get Free Report) had its target price cut by analysts at Piper Sandler from $49.00 to $45.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Piper Sandler's target price would indicate a potential upside of 21.22% from the company's current price.

A number of other equities research analysts also recently weighed in on NBHC. Weiss Ratings downgraded National Bank from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Zacks Research upgraded National Bank from a "strong sell" rating to a "hold" rating in a research note on Monday, October 5th. DA Davidson cut their price target on National Bank from $45.00 to $43.00 and set a "buy" rating for the company in a report on Monday, October 5th. Finally, Stephens downgraded National Bank from an "overweight" rating to an "equal weight" rating and set a $46.00 price objective for the company. in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.67.

National Bank Stock Performance

NYSE NBHC opened at $37.12 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.97 and a quick ratio of 0.96. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 12.27 and a beta of 0.84. The company's fifty day moving average is $40.83 and its two-hundred day moving average is $41.99. National Bank has a 52-week low of $35.06 and a 52-week high of $47.28.

National Bank (NYSE:NBHC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). The company had revenue of $129.94 million for the quarter, compared to the consensus estimate of $135.08 million. National Bank had a return on equity of 8.35% and a net margin of 15.11%. The business's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. Equities research analysts forecast that National Bank will post 3.04 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nykredit A S bought a new stake in shares of National Bank in the 2nd quarter worth about $34,000. Versant Capital Management Inc increased its holdings in shares of National Bank by 108.7% in the third quarter. Versant Capital Management Inc now owns 887 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 462 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of National Bank in the 2nd quarter valued at $90,000. Arrowstreet Capital Limited Partnership acquired a new stake in National Bank in the first quarter worth about $219,000. Finally, Pictet Asset Management Holding SA bought a new position in shares of National Bank in the 1st quarter valued at about $221,000. Institutional investors own 92.65% of the company's stock.

National Bank Company Profile

National Bank Holdings Corporation NYSE: NBHC is a bank holding company headquartered in Greenwood Village, Colorado. Through its banking subsidiary, NBH Bank, the company provides community banking services to individuals, families, businesses and institutions.

Its products and services include checking and savings accounts, certificates of deposit, consumer and residential lending, commercial and industrial loans, commercial real estate financing, treasury management, wealth management and other financial services.

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