Wellington Management Group LLP Sells 43,790 Shares of National Bank Holdings Corporation $NBHC

Key Points

• Wellington Management Group reduced its stake in National Bank Holdings Corporation by 1.5%, selling 43,790 shares to own approximately 7.61% of the company, valued at around $110.9 million.
• National Bank recently reported earnings of $0.88 per share, exceeding the analyst consensus of $0.82, although revenue of $104.48 million fell short of expectations.
• The firm announced a quarterly dividend of $-0.30, marking a decrease in annualized dividends to -$1.20, and currently has a payout ratio of 38.71%.

Wellington Management Group LLP decreased its position in National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,899,033 shares of the financial services provider's stock after selling 43,790 shares during the period. Wellington Management Group LLP owned about 7.61% of National Bank worth $110,946,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CWM LLC increased its position in shares of National Bank by 158.4% during the first quarter. CWM LLC now owns 783 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 480 shares during the period. Quarry LP boosted its stake in National Bank by 503.1% during the fourth quarter. Quarry LP now owns 971 shares of the financial services provider's stock worth $42,000 after buying an additional 810 shares in the last quarter. Sterling Capital Management LLC increased its holdings in 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 during the period. Aquatic Capital Management LLC acquired a new position in shares of National Bank in the 4th quarter valued at $174,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of National Bank during the 1st quarter worth about $217,000. Institutional investors and hedge funds own 92.65% of the company's stock.

National Bank Trading Down 0.2%

Shares of NBHC stock opened at $37.62 on Friday. The company has a market capitalization of $1.43 billion, a P/E ratio of 12.14 and a beta of 0.77. National Bank Holdings Corporation has a 12-month low of $32.83 and a 12-month high of $51.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $38.08 and a 200 day moving average price of $38.21.

National Bank (NYSE:NBHC - Get Free Report) last posted 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. National Bank had a net margin of 20.02% and a return on equity of 9.44%. The company had revenue of $104.48 million during the quarter, compared to analyst estimates of $110.36 million. During the same quarter last year, the business posted $0.68 earnings per share. The company's revenue was up 7.0% on a year-over-year basis. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $-0.30 dividend. The ex-dividend date is Friday, August 29th. This represents a ($1.20) annualized dividend and a yield of -3.2%. National Bank's payout ratio is presently 38.71%.

Analysts Set New Price Targets

A number of analysts recently weighed in on NBHC shares. Hovde Group upped 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. DA Davidson lifted their price objective on National Bank from $42.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Wall Street Zen raised National Bank from a "strong sell" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, National Bank presently has an average rating of "Hold" and a consensus price target of $47.20.

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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