Nuveen LLC Acquires New Shares in National Bank Holdings Corporation $NBHC

Key Points

• Nuveen LLC has acquired a new stake in National Bank Holdings Corporation, purchasing 551,955 shares valued at approximately $21.1 million, which represents about 1.45% ownership of the company.
• National Bank's stock was recently upgraded from a "strong sell" to a "hold" rating, with analysts at Hovde Group increasing the target price from $39.00 to $42.00.
• The company has announced a quarterly dividend of - $0.30 per share, reflecting an annualized dividend yield of -3.2% and a payout ratio of 38.71%.

Nuveen LLC bought a new position in shares of National Bank Holdings Corporation (NYSE:NBHC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 551,955 shares of the financial services provider's stock, valued at approximately $21,123,000. Nuveen LLC owned 1.45% of National Bank at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NBHC. CWM LLC increased its stake in National Bank by 158.4% during the 1st quarter. CWM LLC now owns 783 shares of the financial services provider's stock worth $30,000 after acquiring an additional 480 shares during the period. Quarry LP increased its stake in National Bank by 503.1% during the 4th quarter. Quarry LP now owns 971 shares of the financial services provider's stock worth $42,000 after acquiring an additional 810 shares during the period. Sterling Capital Management LLC increased its stake in National Bank by 815.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,181 shares of the financial services provider's stock worth $51,000 after acquiring an additional 1,052 shares during the period. Aquatic Capital Management LLC bought a new position in National Bank during the 4th quarter worth $174,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in National Bank during the 1st quarter worth $217,000. Institutional investors own 92.65% of the company's stock.

National Bank Price Performance

Shares of NBHC stock traded up $1.5770 during trading hours on Friday, reaching $39.2670. The company's stock had a trading volume of 381,124 shares, compared to its average volume of 358,531. The firm's 50 day simple moving average is $38.15 and its 200-day simple moving average is $38.10. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 12.67 and a beta of 0.77. National Bank Holdings Corporation has a fifty-two week low of $32.83 and a fifty-two week high of $51.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.18.

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

National Bank Cuts Dividend

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

Analyst Ratings Changes

A number of research firms have commented on NBHC. Hovde Group raised their price objective on National Bank from $39.00 to $42.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded National Bank from a "strong sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, DA Davidson raised their price objective on National Bank from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $47.20.

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.