Bank of America Corp DE Has $5.30 Million Stake in National Bank Holdings Corporation $NBHC

Key Points

• Bank of America increased its NBHC stake by 45.8% in the first quarter, owning 135,454 shares valued at approximately $5.3 million. Institutional investors collectively hold 92.65% of National Bank Holdings’ stock.
• Analysts maintain a generally positive outlook, with National Bank receiving a consensus “Moderate Buy” rating and an average price target of $46.80, despite some recent target and rating reductions.
• NBHC shares opened at $41.19, while the company’s latest quarterly results missed expectations with $0.78 in EPS and $129.94 million in revenue. National Bank declared a quarterly dividend of $0.32 per share, implying a 3.1% annual yield.

Bank of America Corp DE raised its holdings in National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 45.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,454 shares of the financial services provider's stock after purchasing an additional 42,572 shares during the quarter. Bank of America Corp DE owned approximately 0.30% of National Bank worth $5,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NBHC. Meeder Asset Management Inc. acquired a new stake in shares of National Bank in the fourth quarter valued at $48,000. Global Retirement Partners LLC acquired a new position in National Bank during the 4th quarter worth about $66,000. State of Wyoming acquired a new position in National Bank during the 4th quarter worth about $69,000. Quarry LP grew its holdings in National Bank by 50.8% during the 3rd quarter. Quarry LP now owns 1,819 shares of the financial services provider's stock worth $70,000 after acquiring an additional 613 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in National Bank by 131.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,395 shares of the financial services provider's stock worth $128,000 after acquiring an additional 1,927 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NBHC. Piper Sandler lowered their price target on shares of National Bank from $52.00 to $51.00 and set an "overweight" rating for the company in a report on Monday, July 27th. Weiss Ratings downgraded National Bank from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Stephens lowered National Bank from an "overweight" rating to an "equal weight" rating and set a $46.00 price objective on the stock. in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded National Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, National Bank currently has an average rating of "Moderate Buy" and a consensus target price of $46.80.

National Bank Trading Down 0.3%

NYSE NBHC opened at $41.19 on Friday. The firm has a market cap of $1.83 billion, a P/E ratio of 17.31 and a beta of 0.79. 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 stock's 50-day moving average is $43.59 and its 200-day moving average is $42.00. National Bank Holdings Corporation has a one year low of $35.06 and a one year high of $47.28.

National Bank (NYSE:NBHC - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $135.08 million. During the same quarter last year, the business posted $0.88 earnings per share. The business's quarterly revenue was up 23.4% on a year-over-year basis. Sell-side analysts anticipate that National Bank Holdings Corporation will post 3.35 earnings per share for the current fiscal year.

National Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 28th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, August 28th. National Bank's dividend payout ratio (DPR) is presently 53.78%.

About National Bank

National Bank Holdings Corporation NYSE: NBHC is a diversified financial services holding company headquartered in Cape Girardeau, Missouri. Through its network of community bank subsidiaries, the company provides deposit, lending and payment solutions to consumer, small business and commercial clients across multiple U.S. markets.

Since its founding in 1992, National Bank Holdings has pursued a growth strategy focused on acquiring and integrating locally branded community banks. Its footprint spans the Midwest and Southern United States, including Missouri, Kansas, Oklahoma, Texas, Colorado, Illinois and Tennessee.

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