T. Rowe Price Investment Management Inc. Lowers Position in National Bank Holdings Corporation $NBHC

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in National Bank Holdings Corporation by 1.5%, owning 2,272,879 shares valued at approximately $86.98 million as of their recent SEC filing.
• National Bank recently announced a quarterly dividend cut to $-0.30, resulting in a negative annual yield of -3.2%.
• Research firms have raised their price targets for National Bank, with DA Davidson setting a new target of $45.00 and Hovde Group increasing theirs to $42.00, reflecting positive sentiment in the market despite the recent dividend cut.

T. Rowe Price Investment Management Inc. decreased its holdings in shares of National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,272,879 shares of the financial services provider's stock after selling 33,857 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 5.97% of National Bank worth $86,984,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of National Bank by 27.1% in the 4th quarter. Wells Fargo & Company MN now owns 22,121 shares of the financial services provider's stock valued at $953,000 after buying an additional 4,719 shares in the last quarter. Bank of Montreal Can increased its position in shares of National Bank by 6.8% in the 4th quarter. Bank of Montreal Can now owns 7,098 shares of the financial services provider's stock valued at $306,000 after buying an additional 455 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of National Bank by 815.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,181 shares of the financial services provider's stock valued at $51,000 after buying an additional 1,052 shares in the last quarter. First Trust Advisors LP increased its position in shares of National Bank by 46.4% in the 4th quarter. First Trust Advisors LP now owns 132,423 shares of the financial services provider's stock valued at $5,702,000 after buying an additional 41,986 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of National Bank by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,089,730 shares of the financial services provider's stock valued at $89,984,000 after buying an additional 32,983 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

National Bank Price Performance

NBHC traded up $0.15 during trading on Wednesday, reaching $39.61. The stock had a trading volume of 48,909 shares, compared to its average volume of 254,684. The business has a 50-day moving average of $38.29 and a 200-day moving average of $38.08. 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. The stock has a market cap of $1.51 billion, a PE ratio of 12.77 and a beta of 0.77.

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

National Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $-0.30 per share. This represents a ($1.20) dividend on an annualized basis and a dividend yield of -3.0%. The ex-dividend date is Friday, August 29th. National Bank's dividend payout ratio is currently 38.71%.

Analysts Set New Price Targets

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

National Bank 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.