National Bank (NYSE:NBHC) Stock Price Target Cut by Piper Sandler

Key Points

• Piper Sandler lowered National Bank’s price target from $51 to $49 while maintaining an “overweight” rating, implying about 25% upside from the stock’s $39.19 price.
• Analyst sentiment is mixed: MarketBeat reports an overall “Hold” consensus with an average $47 target, including three Buy ratings, one Hold and one Sell.
• National Bank’s latest quarter missed expectations, with EPS of $0.78 versus $0.81 expected and revenue of $129.94 million versus $135.08 million; institutional investors own 92.65% of the stock.

National Bank (NYSE:NBHC - Get Free Report) had its price target decreased by equities researchers at Piper Sandler from $51.00 to $49.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's target price points to a potential upside of 25.03% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Research cut shares of National Bank from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 23rd. Weiss Ratings downgraded National Bank from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Finally, Stephens lowered National Bank from an "overweight" rating to an "equal weight" rating and set a $46.00 target price on the stock. in a research note on Thursday, August 6th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $47.00.

National Bank Price Performance

NBHC opened at $39.19 on Thursday. National Bank has a fifty-two week low of $35.06 and a fifty-two week high of $47.28. The firm has a 50-day moving average of $41.82 and a 200 day moving average of $42.02. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.97. The firm has a market cap of $1.75 billion, a P/E ratio of 16.47 and a beta of 0.77.

National Bank (NYSE:NBHC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.03). National Bank had a return on equity of 8.35% and a net margin of 15.11%.The company had revenue of $129.94 million during the quarter, compared to the consensus estimate of $135.08 million. During the same period in the prior year, the firm posted $0.88 EPS. The business's revenue was up 23.4% on a year-over-year basis. On average, research analysts expect that National Bank will post 3.29 EPS for the current year.

Hedge Funds Weigh In On National Bank

A number of large investors have recently modified their holdings of the company. North Reef Capital Management LP purchased a new stake in shares of National Bank during the 1st quarter valued at $12,545,000. Hsbc Holdings PLC grew its position in National Bank by 1,188.0% in the fourth quarter. Hsbc Holdings PLC now owns 186,020 shares of the financial services provider's stock worth $7,071,000 after acquiring an additional 171,578 shares in the last quarter. Kennedy Capital Management LLC increased its stake in National Bank by 39.0% in the fourth quarter. Kennedy Capital Management LLC now owns 505,333 shares of the financial services provider's stock valued at $19,208,000 after acquiring an additional 141,726 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new stake in National Bank during the fourth quarter valued at about $4,137,000. Finally, Empowered Funds LLC lifted its stake in National Bank by 30.9% during the first quarter. Empowered Funds LLC now owns 198,568 shares of the financial services provider's stock worth $7,776,000 after purchasing an additional 46,869 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

About National Bank

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

NBH Bank offers commercial and small-business lending, personal and business deposit accounts, mortgage and consumer loans, treasury management, digital banking and wealth management services. Its products are designed to support commercial clients, professionals, entrepreneurs and retail customers.

The company serves customers through a network of banking locations and digital channels in several markets across the central and western United States, including Colorado, Kansas, Missouri, New Mexico, Texas and Wyoming.

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