North Reef Capital Management LP Makes New $12.54 Million Investment in National Bank Holdings Corporation $NBHC

Key Points

• North Reef Capital Management disclosed a new stake in National Bank Holdings, buying 320,352 shares worth about $12.54 million in the first quarter and ending with roughly 0.71% ownership.
• National Bank reported Q2/quarterly earnings that missed estimates, posting EPS of $0.78 versus $0.81 expected and revenue of $129.06 million versus $135.08 million projected, though revenue still rose 23.4% year over year.
• The stock has a moderate buy consensus from analysts, with an average price target of $47; the company also pays a quarterly dividend of $0.32 per share, or 2.9% annualized yield.

North Reef Capital Management LP purchased a new stake in National Bank Holdings Corporation (NYSE:NBHC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 320,352 shares of the financial services provider's stock, valued at approximately $12,545,000. North Reef Capital Management LP owned approximately 0.71% of National Bank at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of National Bank in the first quarter valued at approximately $219,000. Inceptionr LLC bought a new position in National Bank during the 1st quarter worth $223,000. Sei Investments Co. raised its holdings in National Bank by 5.9% in the 1st quarter. Sei Investments Co. now owns 337,005 shares of the financial services provider's stock valued at $13,197,000 after acquiring an additional 18,785 shares in the last quarter. First Trust Advisors LP raised its holdings in National Bank by 1.4% in the 1st quarter. First Trust Advisors LP now owns 132,026 shares of the financial services provider's stock valued at $5,170,000 after acquiring an additional 1,766 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of National Bank by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,100,944 shares of the financial services provider's stock valued at $82,271,000 after acquiring an additional 40,669 shares during the period. 92.65% of the stock is currently owned by institutional investors.

National Bank Price Performance

Shares of NBHC opened at $43.40 on Friday. National Bank Holdings Corporation has a 12-month low of $35.06 and a 12-month high of $47.28. The business has a 50-day simple moving average of $43.38 and a two-hundred day simple moving average of $41.63. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.94 billion, a PE ratio of 18.24 and a beta of 0.78.

National Bank (NYSE:NBHC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.03). National Bank had a net margin of 15.11% and a return on equity of 8.35%. The firm had revenue of $129.06 million for the quarter, compared to analyst estimates of $135.08 million. During the same period in the previous year, the business posted $0.88 earnings per share. The business's revenue for the quarter was up 23.4% compared to the same quarter last year. Analysts anticipate that National Bank Holdings Corporation will post 3.41 earnings per share for the current fiscal year.

National Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, May 29th. National Bank's dividend payout ratio (DPR) is 53.78%.

Analysts Set New Price Targets

NBHC has been the topic of a number of recent analyst reports. Stephens decreased their price target on National Bank from $49.00 to $46.00 and set an "overweight" rating on the stock in a research report on Thursday. DA Davidson reaffirmed a "buy" rating and set a $46.00 price objective on shares of National Bank in a research report on Wednesday, April 22nd. Wall Street Zen upgraded shares of National Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of National Bank from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, June 24th. Finally, Piper Sandler boosted their target price on shares of National Bank from $48.00 to $52.00 and gave the company an "overweight" rating in a research report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.00.

National Bank Company Profile

National Bank Holdings Corporation NYSE: NBHC is a diversified financial services holding company headquartered in Cape Girardeau, Missouri. Through its network of community bank subsidiaries, the company provides deposit, lending and payment solutions to consumer, small business and commercial clients across multiple U.S. markets.

Since its founding in 1992, National Bank Holdings has pursued a growth strategy focused on acquiring and integrating locally branded community banks. Its footprint spans the Midwest and Southern United States, including Missouri, Kansas, Oklahoma, Texas, Colorado, Illinois and Tennessee.

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