Principal Financial Group Inc. Sells 21,623 Shares of National Bank Holdings Corporation (NYSE:NBHC)

Principal Financial Group Inc. lessened its stake in National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 2.9% in the first quarter, according to its most recent disclosure 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 quarter. 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of National Bank by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 357,049 shares of the financial services provider's stock worth $15,375,000 after buying an additional 1,562 shares during the period. Amundi boosted its position in shares of National Bank by 197.3% during the fourth quarter. Amundi now owns 19,278 shares of the financial services provider's stock worth $826,000 after buying an additional 12,793 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in National Bank during the fourth quarter valued at approximately $500,000. Swiss National Bank boosted its position in National Bank by 0.9% during the fourth quarter. Swiss National Bank now owns 74,500 shares of the financial services provider's stock valued at $3,208,000 after purchasing an additional 700 shares during the last quarter. Finally, Boston Partners boosted its position in National Bank by 90.3% during the fourth quarter. Boston Partners now owns 403,255 shares of the financial services provider's stock valued at $17,366,000 after purchasing an additional 191,336 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NBHC has been the subject of several recent research reports. DA Davidson reduced their price target on National Bank from $46.00 to $42.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen cut National Bank from a "hold" rating to a "sell" rating in a research report on Friday, May 2nd. Finally, Hovde Group cut their price objective on National Bank from $43.00 to $39.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $46.00.

National Bank Stock Performance

Shares of NYSE NBHC traded down $0.18 during trading hours on Friday, reaching $40.01. 243,709 shares of the stock were exchanged, compared to its average volume of 229,792. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 13.79 and a beta of 0.77. The stock's fifty day simple moving average is $37.35 and its 200 day simple moving average is $39.20. 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 52 week low of $32.83 and a 52 week high of $51.76.

National Bank (NYSE:NBHC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.13). The firm had revenue of $102.07 million for the quarter, compared to analyst estimates of $107.47 million. National Bank had a return on equity of 9.02% and a net margin of 18.75%. During the same period in the previous year, the business posted $0.82 earnings per share. Sell-side analysts predict that National Bank Holdings Corporation will post 3.31 EPS for the current year.

National Bank Increases Dividend

The company also recently declared 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 a boost from National Bank's previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Friday, May 30th. National Bank's dividend payout ratio (DPR) is presently 41.38%.

National Bank Company 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.