Bank of New York Mellon Corp Lowers Position in National Bank Holdings Corporation (NYSE:NBHC)

Bank of New York Mellon Corp trimmed its holdings in National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 33.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 418,074 shares of the financial services provider's stock after selling 214,312 shares during the period. Bank of New York Mellon Corp owned 1.10% of National Bank worth $16,000,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Leeward Investments LLC MA increased its stake in National Bank by 12.0% during the 1st quarter. Leeward Investments LLC MA now owns 390,439 shares of the financial services provider's stock worth $14,942,000 after acquiring an additional 41,828 shares during the period. Peregrine Capital Management LLC increased its stake in National Bank by 9.3% during the 1st quarter. Peregrine Capital Management LLC now owns 146,101 shares of the financial services provider's stock worth $5,591,000 after acquiring an additional 12,386 shares during the period. Handelsbanken Fonder AB increased its stake in National Bank by 40.4% during the 1st quarter. Handelsbanken Fonder AB now owns 7,300 shares of the financial services provider's stock worth $279,000 after acquiring an additional 2,100 shares during the period. SG Americas Securities LLC bought a new position in National Bank during the 1st quarter worth $289,000. Finally, Harbor Capital Advisors Inc. bought a new position in National Bank during the 1st quarter worth $526,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NBHC has been the subject of a number of research analyst reports. DA Davidson lowered their price target on National Bank from $46.00 to $42.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Hovde Group lowered their target price on National Bank from $43.00 to $39.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Finally, Wall Street Zen cut National Bank from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $46.00.

National Bank Trading Up 0.2%

Shares of National Bank stock traded up $0.08 on Tuesday, hitting $39.71. 47,346 shares of the company's stock traded hands, compared to its average volume of 226,746. National Bank Holdings Corporation has a one year low of $32.83 and a one year high of $51.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.92. The company has a fifty day moving average of $37.76 and a two-hundred day moving average of $38.98. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 13.68 and a beta of 0.77.

National Bank (NYSE:NBHC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.13). The firm had revenue of $102.07 million during the quarter, compared to the consensus estimate of $107.47 million. National Bank had a return on equity of 9.02% and a net margin of 18.75%. During the same quarter in the previous year, the company posted $0.82 EPS. As a group, sell-side analysts expect that National Bank Holdings Corporation will post 3.31 earnings per share for the current year.

National Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.30 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.20 annualized dividend and a yield of 3.02%. This is a positive change from National Bank's previous quarterly dividend of $0.29. National Bank's dividend payout ratio is presently 41.38%.

National Bank Profile

National Bank Holdings Corporation operates as the bank holding company for NBH Bank that provides various banking products and financial services to commercial, business, and consumer clients in the United States. It offers deposit products, including checking, savings, money market, and other deposit accounts, including fixed-rate and fixed maturity time deposits.