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

Key Points

• Zacks Research upgraded National Bank from “strong sell” to “hold.” Despite mixed analyst actions, the stock carries a “Moderate Buy” consensus rating with an average price target of $46.00.
• National Bank shares opened at $38.29, up 1.3%, with a $1.71 billion market capitalization. The stock remains below its 50-day and 200-day moving averages and has traded between $35.06 and $47.28 over the past year.
• The company’s latest quarterly results missed expectations, reporting $0.78 in EPS versus an $0.81 estimate and revenue of $129.94 million versus $135.08 million expected. Institutional investors own approximately 92.65% of the company’s shares.

National Bank (NYSE:NBHC - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

Several other research firms have also issued reports on NBHC. Piper Sandler lowered their target price on shares of National Bank from $51.00 to $49.00 and set an "overweight" rating for the company in a report on Thursday, October 1st. Weiss Ratings downgraded National Bank from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Stephens downgraded National Bank from an "overweight" rating to an "equal weight" rating and set a $46.00 price target on the stock. in a research note on Thursday, August 6th. Finally, DA Davidson reduced their price objective on National Bank from $45.00 to $43.00 and set a "buy" rating for the company in a research report on Monday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, National Bank presently has an average rating of "Moderate Buy" and an average target price of $46.00.

National Bank Stock Up 1.3%

NYSE:NBHC opened at $38.29 on Monday. 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's 50-day moving average price is $41.46 and its 200-day moving average price is $42.01. The company has a market capitalization of $1.71 billion, a PE ratio of 16.09 and a beta of 0.84. National Bank has a 1-year low of $35.06 and a 1-year high of $47.28.

National Bank (NYSE:NBHC - Get Free Report) last issued its quarterly 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 business had revenue of $129.94 million for the quarter, compared to analysts' expectations of $135.08 million. During the same period last year, the business earned $0.88 earnings per share. The company's revenue was up 23.4% on a year-over-year basis. On average, equities analysts predict that National Bank will post 3.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Illinois Municipal Retirement Fund increased its position in shares of National Bank by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 19,816 shares of the financial services provider's stock valued at $776,000 after purchasing an additional 300 shares during the last quarter. Versant Capital Management Inc increased its holdings in National Bank by 108.7% during the third quarter. Versant Capital Management Inc now owns 887 shares of the financial services provider's stock valued at $35,000 after buying an additional 462 shares during the last quarter. Nykredit A S purchased a new stake in National Bank during the second quarter valued at approximately $34,000. The Manufacturers Life Insurance Company raised its position in National Bank by 5.0% in the first quarter. The Manufacturers Life Insurance Company now owns 17,405 shares of the financial services provider's stock worth $682,000 after acquiring an additional 826 shares during the period. Finally, Arizona State Retirement System raised its position in National Bank by 9.8% in the second quarter. Arizona State Retirement System now owns 11,407 shares of the financial services provider's stock worth $507,000 after acquiring an additional 1,020 shares during the period. Hedge funds and other 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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