National Bank Holdings Corporation $NBHC Stock Holdings Lessened by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in National Bank Holdings Corporation by 26.8%, selling 10,778 shares and ending the quarter with 29,452 shares valued at approximately $1.12 million.
• In the first quarter, several institutional investors increased their positions in National Bank, with GAMMA Investing LLC boosting its stake by over 4,500%.
• National Bank has announced a quarterly dividend of $-0.30 per share, with a payout ratio of 38.71%, marking a potential shift for investors.

Rafferty Asset Management LLC decreased its stake in National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 26.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,452 shares of the financial services provider's stock after selling 10,778 shares during the period. Rafferty Asset Management LLC owned approximately 0.08% of National Bank worth $1,127,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NBHC. Nuveen LLC purchased a new stake in shares of National Bank in the first quarter worth about $21,123,000. Westwood Holdings Group Inc. boosted its position in shares of National Bank by 30.1% in the first quarter. Westwood Holdings Group Inc. now owns 1,450,227 shares of the financial services provider's stock worth $55,500,000 after buying an additional 335,741 shares during the period. Boston Partners boosted its position in shares of National Bank by 40.6% in the first quarter. Boston Partners now owns 567,150 shares of the financial services provider's stock worth $21,702,000 after buying an additional 163,895 shares during the period. Victory Capital Management Inc. boosted its position in shares of National Bank by 2.6% in the first quarter. Victory Capital Management Inc. now owns 2,851,786 shares of the financial services provider's stock worth $109,138,000 after buying an additional 72,805 shares during the period. Finally, AlphaQuest LLC grew its holdings in National Bank by 29,422.8% during the 1st quarter. AlphaQuest LLC now owns 42,808 shares of the financial services provider's stock valued at $1,638,000 after purchasing an additional 42,663 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Hovde Group raised their price target on shares of National Bank from $39.00 to $42.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Wall Street Zen raised shares of National Bank from a "strong sell" rating to a "hold" rating in a report on Saturday, July 26th. Zacks Research raised shares of National Bank from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. Finally, DA Davidson raised their price target on shares of National Bank from $42.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, National Bank presently has an average rating of "Moderate Buy" and a consensus target price of $47.20.

National Bank Stock Down 0.7%

NBHC stock traded down $0.27 during mid-day trading on Friday, hitting $39.12. 175,106 shares of the company were exchanged, compared to its average volume of 258,880. The company has a market capitalization of $1.49 billion, a PE ratio of 12.62 and a beta of 0.78. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. National Bank Holdings Corporation has a twelve month low of $32.83 and a twelve month high of $51.76. The firm has a fifty day simple moving average of $38.68 and a 200 day simple moving average of $37.87.

National Bank (NYSE:NBHC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. The company 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 firm's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. On average, research analysts forecast that National Bank Holdings Corporation will post 3.31 earnings per share for the current fiscal year.

National Bank Cuts Dividend

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