Empowered Funds LLC Purchases 46,869 Shares of National Bank Holdings Corporation $NBHC

Key Points

• Empowered Funds LLC increased its National Bank Holdings (NBHC) position by 30.9% in the first quarter, adding 46,869 shares and bringing its holdings to 198,568 shares worth approximately $7.8 million. Institutional investors collectively own 92.65% of the company.
• Analyst sentiment remains positive but tempered, with NBHC receiving a consensus “Moderate Buy” rating and an average price target of $46.80. Stephens downgraded the stock to “Equal Weight,” while Piper Sandler lowered its target to $51.
• National Bank reported quarterly earnings of $0.78 per share, below the $0.81 consensus estimate, although revenue rose 23.4% year over year to $129.94 million. The company declared a quarterly dividend of $0.32 per share, representing a 2.9% yield.

Empowered Funds LLC grew its holdings in shares of National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 30.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 198,568 shares of the financial services provider's stock after purchasing an additional 46,869 shares during the quarter. Empowered Funds LLC owned approximately 0.44% of National Bank worth $7,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NBHC. Bank of America Corp DE increased its holdings in National Bank by 45.8% during 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. Amundi purchased a new position in shares of National Bank during the 1st quarter worth $260,000. California State Teachers Retirement System grew its position in shares of National Bank by 40.7% during the 1st quarter. California State Teachers Retirement System now owns 49,276 shares of the financial services provider's stock valued at $1,930,000 after acquiring an additional 14,266 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of National Bank by 5.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 17,405 shares of the financial services provider's stock worth $682,000 after purchasing an additional 826 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of National Bank by 105.0% in the 1st quarter. Quantinno Capital Management LP now owns 29,189 shares of the financial services provider's stock worth $1,143,000 after purchasing an additional 14,952 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NBHC. Stephens cut 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. DA Davidson reiterated a "buy" rating and set a $46.00 target price on shares of National Bank in a research report on Wednesday, April 22nd. Wall Street Zen upgraded shares of National Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Piper Sandler cut their target price on shares of National Bank from $52.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, July 27th. Finally, Weiss Ratings downgraded shares of National Bank from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

National Bank Trading Down 0.1%

NBHC stock opened at $43.47 on Friday. The firm has a fifty day moving average price of $43.74 and a 200 day moving average price of $41.91. National Bank Holdings Corporation has a fifty-two week low of $35.06 and a fifty-two week high of $47.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.96 and a current ratio of 0.97. The firm has a market cap of $1.94 billion, a PE ratio of 18.26 and a beta of 0.79.

National Bank (NYSE:NBHC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.81 by ($0.03). National Bank had a return on equity of 8.35% and a net margin of 15.11%.The business had revenue of $129.94 million during the quarter, compared to the consensus estimate of $135.08 million. During the same quarter last year, the firm earned $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 declared 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 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, August 28th. National Bank's dividend payout ratio is presently 53.78%.

National Bank Company Profile

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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