National HealthCare Corporation $NHC Stock Position Increased by Bank of America Corp DE

Key Points

• Bank of America increased its National HealthCare stake by 65.9% in the first quarter, bringing its holdings to 27,513 shares valued at approximately $4.4 million. Institutional investors collectively own 56.44% of the company.
• National HealthCare reported quarterly earnings of $1.74 per share on $408.03 million in revenue, while its stock opened at $222.70 and has traded between $111.24 and $239.29 over the past year.
• The company declared a quarterly dividend of $0.67 per share, equivalent to $2.68 annually and a 1.2% yield. Analysts maintain a consensus “Buy” rating, with two firms issuing “Strong Buy” ratings and two rating the stock “Hold.”

Bank of America Corp DE increased its holdings in National HealthCare Corporation (NYSEAMERICAN:NHC - Free Report) by 65.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,513 shares of the company's stock after buying an additional 10,930 shares during the quarter. Bank of America Corp DE owned about 0.18% of National HealthCare worth $4,394,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Morgan Stanley Institutional Investment Advisors LLC grew its position in National HealthCare by 38.6% in the fourth quarter. Morgan Stanley Institutional Investment Advisors LLC now owns 1,038,787 shares of the company's stock worth $142,407,000 after buying an additional 289,566 shares during the last quarter. First Trust Advisors LP lifted its position in shares of National HealthCare by 45.4% during the 1st quarter. First Trust Advisors LP now owns 530,302 shares of the company's stock valued at $84,689,000 after acquiring an additional 165,615 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of National HealthCare by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 318,440 shares of the company's stock worth $43,662,000 after acquiring an additional 2,361 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of National HealthCare by 43.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 85,781 shares of the company's stock worth $11,760,000 after acquiring an additional 26,020 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of National HealthCare by 407.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 75,257 shares of the company's stock worth $12,019,000 after acquiring an additional 60,420 shares during the last quarter. Institutional investors own 56.44% of the company's stock.

National HealthCare Stock Up 0.2%

NHC stock opened at $222.70 on Friday. National HealthCare Corporation has a twelve month low of $111.24 and a twelve month high of $239.29. The company has a market cap of $3.49 billion, a P/E ratio of 25.05 and a beta of 0.61. The business has a fifty day moving average of $219.36 and a 200-day moving average of $189.89.

National HealthCare (NYSEAMERICAN:NHC - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.74 earnings per share for the quarter. The company had revenue of $408.03 million for the quarter. National HealthCare had a net margin of 9.00% and a return on equity of 10.03%.

National HealthCare Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.68 annualized dividend and a yield of 1.2%. National HealthCare's dividend payout ratio (DPR) is presently 61.89%.

Insider Buying and Selling

In other news, Director Lisa Piercey purchased 949 shares of the company's stock in a transaction dated Monday, June 1st. The stock was bought at an average cost of $184.26 per share, for a total transaction of $174,862.74. Following the purchase, the director owned 949 shares of the company's stock, valued at approximately $174,862.74. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David R. Gifford sold 1,779 shares of National HealthCare stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $225.42, for a total value of $401,022.18. Following the sale, the director directly owned 1,030 shares in the company, valued at $232,182.60. The trade was a 63.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 13.92% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank Of Canada upgraded shares of National HealthCare to a "hold" rating in a research report on Monday, May 18th. The Goldman Sachs Group upgraded National HealthCare to a "strong-buy" rating in a report on Monday, May 18th. Robert W. Baird raised National HealthCare to a "strong-buy" rating in a research report on Monday, May 18th. Finally, BMO Capital Markets raised National HealthCare to a "hold" rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy".

National HealthCare Profile

National HealthCare Corporation (NYSE American: NHC) is a healthcare services company specializing in long-term care and post-acute rehabilitation. The company operates skilled nursing facilities, assisted living communities and outpatient therapy clinics. Through its subsidiary, National HealthCare Partners, NHC provides contract rehabilitation services, pharmacy management and clinical consulting to a broad network of senior living and healthcare providers.

Headquartered in Murfreesboro, Tennessee, National HealthCare Corporation has built a regional footprint across the southeastern and south-central United States.

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