Vanguard Group Inc. Trims Stock Holdings in National Bank Holdings Corporation $NBHC

Key Points

• Vanguard Group Inc. reduced its stake in National Bank Holdings Corporation by 0.8%, now owning approximately 4.19 million shares, valued at $160.54 million.
• Several hedge funds increased their holdings in National Bank, with Westwood Holdings Group growing by 30.1% in the first quarter, now owning 1.45 million shares.
• National Bank's recent quarterly earnings beat expectations with $0.88 earnings per share, despite a decline in revenue compared to forecasts, and the company is set to pay a quarterly dividend of $-0.30 per share.

Vanguard Group Inc. lessened its stake in shares of National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,194,902 shares of the financial services provider's stock after selling 35,482 shares during the period. Vanguard Group Inc. owned 11.02% of National Bank worth $160,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of NBHC. Wells Fargo & Company MN raised its holdings in shares of National Bank by 27.1% during the 4th quarter. Wells Fargo & Company MN now owns 22,121 shares of the financial services provider's stock worth $953,000 after acquiring an additional 4,719 shares during the period. Bank of Montreal Can raised its holdings in shares of National Bank by 6.8% during the 4th quarter. Bank of Montreal Can now owns 7,098 shares of the financial services provider's stock worth $306,000 after acquiring an additional 455 shares during the period. Invesco Ltd. raised its holdings in shares of National Bank by 36.8% during the 4th quarter. Invesco Ltd. now owns 231,403 shares of the financial services provider's stock worth $9,964,000 after acquiring an additional 62,225 shares during the period. Sterling Capital Management LLC raised its holdings in shares of 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. Finally, First Trust Advisors LP raised its holdings in shares of National Bank by 46.4% during the 4th quarter. First Trust Advisors LP now owns 132,423 shares of the financial services provider's stock worth $5,702,000 after acquiring an additional 41,986 shares during the period. Hedge funds and other institutional investors own 92.65% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on NBHC. Hovde Group lifted their price target on National Bank from $39.00 to $42.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. DA Davidson lifted their price target on National Bank from $42.00 to $45.00 and gave the stock a "buy" 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 issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $47.20.

National Bank Trading Up 0.8%

NBHC traded up $0.30 on Tuesday, hitting $39.49. The company had a trading volume of 176,683 shares, compared to its average volume of 356,369. The firm has a market cap of $1.50 billion, a P/E ratio of 12.74 and a beta of 0.77. National Bank Holdings Corporation has a 1 year low of $32.83 and a 1 year high of $51.76. The company's fifty day moving average price is $38.29 and its 200 day moving average price is $38.08. 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 (NYSE:NBHC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $104.48 million for 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%. National Bank's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $-0.30 per share. The ex-dividend date is Friday, August 29th. This represents a ($1.20) annualized dividend and a yield of -3.0%. National Bank's payout ratio is presently 38.71%.

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.