Russell Investments Group Ltd. Sells 126,570 Shares of National Bank Holdings Corporation $NBHC

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. decreased its stake in shares of National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 38.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 202,706 shares of the financial services provider's stock after selling 126,570 shares during the period. Russell Investments Group Ltd. owned 0.53% of National Bank worth $7,758,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NBHC. Nuveen LLC bought a new stake in shares of National Bank during the 1st quarter worth about $21,123,000. Westwood Holdings Group Inc. boosted 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 during the period. Victory Capital Management Inc. boosted its holdings in National Bank by 2.6% in the 1st quarter. Victory Capital Management Inc. now owns 2,851,786 shares of the financial services provider's stock valued at $109,138,000 after purchasing an additional 72,805 shares during the period. Tudor Investment Corp ET AL boosted its holdings in National Bank by 1,207.4% in the 4th quarter. Tudor Investment Corp ET AL now owns 70,076 shares of the financial services provider's stock valued at $3,017,000 after purchasing an additional 64,716 shares during the period. Finally, Invesco Ltd. boosted its holdings in National Bank by 36.8% in the 4th quarter. Invesco Ltd. now owns 231,403 shares of the financial services provider's stock valued at $9,964,000 after purchasing an additional 62,225 shares during the period. Institutional investors own 92.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Hovde Group boosted their price objective on shares of National Bank from $39.00 to $42.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. DA Davidson boosted their price objective on shares of National Bank from $42.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Wall Street Zen raised shares of National Bank from a "strong sell" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $47.20.

National Bank Price Performance

NYSE:NBHC traded up $1.5770 on Friday, hitting $39.2670. The company had a trading volume of 381,124 shares, compared to its average volume of 360,366. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 12.67 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $38.15 and a two-hundred day moving average of $38.14. National Bank Holdings Corporation has a 52 week low of $32.83 and a 52 week high of $51.76.

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

National Bank Cuts Dividend

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

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.