National Bank (NYSE:NBHC) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded National Bank from “hold” to “strong sell,” while the broader analyst consensus remains “hold” with a $47.67 target price.
• National Bank’s shares opened at $39.99, near the lower end of their 12-month range, after the company reported quarterly EPS of $0.78—below the $0.81 consensus—and revenue of $129.94 million, also missing estimates.
• Institutional investors own 92.65% of the stock, with several major firms—including Empowered Funds, HSBC and Bank of America—recently increasing their positions.

National Bank (NYSE:NBHC - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Wednesday, Zacks reports.

Several other analysts have also recently issued reports on NBHC. Stephens cut shares of National Bank from an "overweight" rating to an "equal weight" rating and set a $46.00 price objective for the company. in a research note on Thursday, August 6th. Weiss Ratings cut National Bank from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Finally, Piper Sandler lowered their price target on National Bank from $52.00 to $51.00 and set an "overweight" rating for the company in a research report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, National Bank has a consensus rating of "Hold" and a consensus target price of $47.67.

National Bank Trading Up 0.3%

NYSE NBHC opened at $39.99 on Wednesday. The company has a market cap of $1.78 billion, a P/E ratio of 16.80 and a beta of 0.77. National Bank has a 12 month low of $35.06 and a 12 month high of $47.28. 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 company has a 50-day moving average of $42.29 and a 200-day moving average of $42.01.

National Bank (NYSE:NBHC - Get Free Report) last released its earnings results on Tuesday, July 21st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.03). National Bank had a net margin of 15.11% and a return on equity of 8.35%. The company had revenue of $129.94 million during the quarter, compared to analysts' expectations of $135.08 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. National Bank's revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, equities analysts predict that National Bank will post 3.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in shares of 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. Hsbc Holdings PLC increased its holdings 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 valued at $7,071,000 after buying an additional 171,578 shares during the last quarter. Bank of America Corp DE increased its holdings in National Bank by 45.8% in the first quarter. Bank of America Corp DE now owns 135,454 shares of the financial services provider's stock valued at $5,304,000 after buying an additional 42,572 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in National Bank during the fourth quarter valued at approximately $950,000. Finally, Dimensional Fund Advisors LP raised its stake in National Bank by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,100,944 shares of the financial services provider's stock valued at $82,271,000 after buying an additional 40,669 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.

National Bank Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.