Nuveen LLC Purchases New Stake 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 purchased a new stake in National Bank Holdings Corporation (NYSE:NBHC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 551,955 shares of the financial services provider's stock, valued at approximately $21,123,000. Nuveen LLC owned approximately 1.45% of National Bank at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NBHC. Wells Fargo & Company MN raised its holdings in National Bank by 27.1% in the fourth quarter. Wells Fargo & Company MN now owns 22,121 shares of the financial services provider's stock valued at $953,000 after acquiring an additional 4,719 shares in the last quarter. Bank of Montreal Can raised its holdings in National Bank by 6.8% in the fourth quarter. Bank of Montreal Can now owns 7,098 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 455 shares in the last quarter. Invesco Ltd. raised its holdings in National Bank by 36.8% in the fourth quarter. Invesco Ltd. now owns 231,403 shares of the financial services provider's stock valued at $9,964,000 after acquiring an additional 62,225 shares in the last quarter. Legal & General Group Plc raised its holdings in National Bank by 1.5% in the fourth quarter. Legal & General Group Plc now owns 104,005 shares of the financial services provider's stock valued at $4,478,000 after acquiring an additional 1,498 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in National Bank by 815.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,181 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 1,052 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NBHC has been the subject of several recent research reports. Wall Street Zen upgraded shares of National Bank from a "strong sell" rating to a "hold" rating in a research note on Saturday, July 26th. Hovde Group boosted their target price on shares of National Bank from $39.00 to $42.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, DA Davidson boosted their target price on shares of National Bank from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $47.20.

National Bank Stock Up 0.4%

National Bank stock opened at $37.84 on Tuesday. The company has a 50-day simple moving average of $38.06 and a 200-day simple moving average of $38.25. The firm has a market capitalization of $1.44 billion, a P/E ratio of 12.20 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.93. National Bank Holdings Corporation has a one year low of $32.83 and a one year high of $51.76.

National Bank (NYSE:NBHC - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. The business had revenue of $104.48 million during the quarter, compared to analyst estimates of $110.36 million. National Bank had a net margin of 20.02% and a return on equity of 9.44%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 earnings per share. As a group, equities analysts expect that National Bank Holdings Corporation will post 3.31 earnings per share for the current year.

National Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $-0.30 per share. The ex-dividend date is Friday, August 29th. This represents a ($1.20) annualized dividend and a dividend yield of -3.2%. National Bank's dividend payout ratio is currently 38.71%.

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.

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