National Bank Holdings Corporation $NBHC Position Lowered by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its stake in National Bank Holdings Corporation (NYSE:NBHC) by 38.4%, now holding approximately 0.53% of the company valued at $7.76 million.
• National Bank reported a quarterly earnings per share of $0.88, surpassing estimates of $0.82, while its revenue for the quarter was $104.48 million, below the expected $110.36 million.
• The company announced a quarterly dividend of $-0.30 per share, marking a negative annualized dividend yield of -3.2% and a dividend payout ratio of 38.71%.

Russell Investments Group Ltd. trimmed its position in shares of National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 38.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,706 shares of the financial services provider's stock after selling 126,570 shares during the period. Russell Investments Group Ltd. owned approximately 0.53% of National Bank worth $7,758,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of National Bank by 2.6% during the 1st quarter. Victory Capital Management Inc. now owns 2,851,786 shares of the financial services provider's stock worth $109,138,000 after buying an additional 72,805 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in National Bank by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,089,730 shares of the financial services provider's stock valued at $89,984,000 after purchasing an additional 32,983 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in National Bank by 30.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,450,227 shares of the financial services provider's stock valued at $55,500,000 after purchasing an additional 335,741 shares in the last quarter. Nuveen LLC acquired a new stake in National Bank in the 1st quarter valued at $21,123,000. Finally, Northern Trust Corp increased its holdings in National Bank by 7.3% in the 4th quarter. Northern Trust Corp now owns 440,106 shares of the financial services provider's stock valued at $18,951,000 after purchasing an additional 29,823 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

National Bank Stock Down 0.3%

Shares of National Bank stock traded down $0.1080 during trading hours on Monday, hitting $39.2020. 227,916 shares of the company's stock traded hands, compared to its average volume of 358,531. The stock has a 50 day simple moving average of $38.21 and a 200-day simple moving average of $38.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.49 billion, a PE ratio of 12.65 and a beta of 0.77. National Bank Holdings Corporation has a twelve month low of $32.83 and a twelve month high of $51.76.

National Bank (NYSE:NBHC - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. National Bank had a return on equity of 9.44% and a net margin of 20.02%.The company had revenue of $104.48 million during the quarter, compared to the consensus estimate of $110.36 million. During the same period last year, the firm earned $0.68 earnings per share. The company's revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that National Bank Holdings Corporation will post 3.31 earnings per share for the current fiscal year.

National Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $-0.30 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a ($1.20) annualized dividend and a dividend yield of -3.1%. National Bank's dividend payout ratio (DPR) is presently 38.71%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NBHC. Wall Street Zen upgraded National Bank from a "strong sell" rating to a "hold" rating in a report on Saturday, July 26th. Hovde Group increased their price target on National Bank from $39.00 to $42.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Finally, DA Davidson increased their price target on National Bank from $42.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, National Bank presently has an average rating of "Hold" and an average target price of $47.20.

About National Bank

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.