Bank of New York Mellon Corp Sells 214,312 Shares of National Bank Holdings Corporation (NYSE:NBHC)

Bank of New York Mellon Corp reduced its holdings in National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 33.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 about 1.10% of National Bank worth $16,000,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP lifted its position in shares of National Bank by 503.1% in the fourth quarter. Quarry LP now owns 971 shares of the financial services provider's stock worth $42,000 after buying an additional 810 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of National Bank by 815.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,181 shares of the financial services provider's stock worth $51,000 after buying an additional 1,052 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of National Bank in the fourth quarter worth about $174,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of National Bank in the fourth quarter worth about $230,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of National Bank in the fourth quarter worth about $246,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on NBHC. DA Davidson cut 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 cut their price target 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 research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $46.00.

National Bank Price Performance

NYSE:NBHC traded up $1.07 during trading hours on Wednesday, reaching $40.28. 523,548 shares of the company were exchanged, compared to its average volume of 228,018. The company has a market capitalization of $1.53 billion, a P/E ratio of 12.99 and a beta of 0.77. National Bank Holdings Corporation has a 1-year low of $32.83 and a 1-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 business has a 50 day moving average of $37.83 and a 200 day moving average of $38.99.

National Bank (NYSE:NBHC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. The firm had revenue of $104.48 million for the quarter, compared to the consensus estimate of $110.36 million. National Bank had a return on equity of 9.52% and a net margin of 20.02%. The company's revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Research analysts forecast that National Bank Holdings Corporation will post 3.31 EPS for the current year.

National Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.30 per share. This is an increase from National Bank's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.98%. National Bank's dividend payout ratio (DPR) is 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.