Principal Financial Group Inc. Trims Stake in National Bank Holdings Corporation (NYSE:NBHC)

Principal Financial Group Inc. trimmed its position in shares of National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 2.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 729,747 shares of the financial services provider's stock after selling 21,623 shares during the period. Principal Financial Group Inc. owned about 1.92% of National Bank worth $27,927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NBHC. Bank of Montreal Can lifted its holdings in National Bank by 6.8% during the 4th quarter. Bank of Montreal Can now owns 7,098 shares of the financial services provider's stock valued at $306,000 after buying an additional 455 shares in the last quarter. Swiss National Bank increased its position in shares of National Bank by 0.9% during the fourth quarter. Swiss National Bank now owns 74,500 shares of the financial services provider's stock worth $3,208,000 after acquiring an additional 700 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of National Bank by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,987 shares of the financial services provider's stock valued at $904,000 after acquiring an additional 715 shares in the last quarter. Quarry LP boosted its holdings 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 valued at $42,000 after purchasing an additional 810 shares during the period. Finally, Sterling Capital Management LLC grew its stake in 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 purchasing an additional 1,052 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. DA Davidson lowered their target price 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 dropped their target price on shares of National Bank from $43.00 to $39.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Finally, Wall Street Zen downgraded shares of National Bank from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. One investment 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.com, National Bank has an average rating of "Hold" and a consensus target price of $46.00.

National Bank Stock Down 0.4%

NYSE:NBHC traded down $0.18 during mid-day trading on Friday, hitting $40.01. 267,198 shares of the company's stock traded hands, compared to its average volume of 229,300. The company has a fifty day moving average of $37.42 and a 200 day moving average of $39.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.93. National Bank Holdings Corporation has a twelve month low of $32.83 and a twelve month high of $51.76. The company has a market capitalization of $1.52 billion, a P/E ratio of 13.79 and a beta of 0.77.

National Bank (NYSE:NBHC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $102.07 million for the quarter, compared to analyst estimates of $107.47 million. National Bank had a net margin of 18.75% and a return on equity of 9.02%. During the same quarter last year, the company earned $0.82 EPS. On average, analysts forecast that National Bank Holdings Corporation will post 3.31 EPS for the current year.

National Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 30th. This is a positive change from National Bank's previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.00%. National Bank's payout ratio is 41.38%.

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.