Wealth Enhancement Advisory Services LLC Invests $289,000 in National Bank Holdings Corporation $NBHC

Key Points

• Wealth Enhancement Advisory Services LLC invested approximately $289,000 in National Bank Holdings Corporation by purchasing 7,223 shares in the 2nd quarter.
• National Bank recently reported a quarterly earnings per share (EPS) of $0.88, surpassing the consensus estimate of $0.82, while revenue increased by 7.0% year-over-year.
• The company cut its dividend to -$0.30 per share, reflecting an annualized dividend of -$1.20 and a dividend yield of -3.1%.

Wealth Enhancement Advisory Services LLC purchased a new stake in National Bank Holdings Corporation (NYSE:NBHC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 7,223 shares of the financial services provider's stock, valued at approximately $289,000.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of National Bank by 4,552.1% during the first quarter. GAMMA Investing LLC now owns 20,283 shares of the financial services provider's stock worth $776,000 after acquiring an additional 19,847 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of National Bank during the first quarter worth approximately $526,000. SG Americas Securities LLC purchased a new stake in shares of National Bank in the first quarter valued at about $289,000. Handelsbanken Fonder AB raised its stake in shares of National Bank by 40.4% during the 1st quarter. Handelsbanken Fonder AB now owns 7,300 shares of the financial services provider's stock worth $279,000 after buying an additional 2,100 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its stake in shares of National Bank by 9.3% during the 1st quarter. Peregrine Capital Management LLC now owns 146,101 shares of the financial services provider's stock worth $5,591,000 after purchasing an additional 12,386 shares during the period. Hedge funds and other institutional investors own 92.65% of the company's stock.

National Bank Stock Performance

Shares of NYSE NBHC opened at $38.45 on Thursday. 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 Holdings Corporation has a 52-week low of $32.83 and a 52-week high of $51.76. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 12.40 and a beta of 0.75. The stock's fifty day simple moving average is $38.42 and its 200 day simple moving average is $37.66.

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 (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. National Bank had a return on equity of 9.44% and a net margin of 20.02%.The firm had revenue of $104.48 million during the quarter, compared to the consensus estimate of $110.36 million. During the same period in the prior year, the business earned $0.68 EPS. The business's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side 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 was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a dividend of $-0.30 per share. The ex-dividend date was Friday, August 29th. This represents a ($1.20) annualized dividend and a dividend yield of -3.1%. National Bank's payout ratio is presently 38.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NBHC. DA Davidson raised their price objective on shares of National Bank from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Zacks Research upgraded National Bank from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. Weiss Ratings restated a "hold (c)" rating on shares of National Bank in a report on Wednesday. Hovde Group raised shares of National Bank from a "market perform" rating to an "outperform" rating and set a $46.00 target price on the stock in a research report on Thursday, September 18th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of National Bank from $44.00 to $45.00 and gave the stock a "market perform" rating in a research note on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $46.60.

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.

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