Westwood Holdings Group Inc. Buys 335,741 Shares of National Bank Holdings Corporation (NYSE:NBHC)

Key Points

• Westwood Holdings Group Inc. increased its stake in National Bank Holdings Corporation by 30.1% during the first quarter, now owning 1,450,227 shares valued at $55,500,000.
• National Bank recently declared a quarterly dividend of $-0.30, resulting in an annualized payout of -3.3% with a dividend payout ratio of 38.71%.
• The stock has a consensus rating of "Hold" among analysts, with a price target raised to $45.00, indicating a cautious but optimistic outlook.

Westwood Holdings Group Inc. lifted its position in shares of National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 30.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,450,227 shares of the financial services provider's stock after acquiring an additional 335,741 shares during the period. Westwood Holdings Group Inc. owned approximately 3.81% of National Bank worth $55,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of National Bank by 74.7% in the 4th quarter. JPMorgan Chase & Co. now owns 331,546 shares of the financial services provider's stock valued at $14,276,000 after purchasing an additional 141,716 shares in the last quarter. Franklin Resources Inc. lifted its stake in National Bank by 216.8% in the 4th quarter. Franklin Resources Inc. now owns 33,945 shares of the financial services provider's stock valued at $1,462,000 after purchasing an additional 23,230 shares during the last quarter. Wells Fargo & Company MN boosted its position in National Bank by 27.1% in the fourth 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 grew its stake in shares of National Bank by 6.8% during the fourth quarter. Bank of Montreal Can now owns 7,098 shares of the financial services provider's stock worth $306,000 after buying an additional 455 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of National Bank by 36.8% during the fourth quarter. Invesco Ltd. now owns 231,403 shares of the financial services provider's stock worth $9,964,000 after buying an additional 62,225 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

National Bank Trading Up 1.1%

NYSE:NBHC traded up $0.41 on Friday, reaching $36.55. 160,041 shares of the stock traded hands, compared to its average volume of 353,805. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 11.79 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 has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. The company's 50 day moving average is $37.91 and its 200-day moving average is $38.52.

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. The company had revenue of $104.48 million during the quarter, compared to analysts' expectations 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 for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 earnings per share. Equities research analysts anticipate that National Bank Holdings Corporation will post 3.31 EPS 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. Stockholders of record on Friday, August 29th will be paid a $-0.30 dividend. This represents a ($1.20) dividend on an annualized basis and a dividend yield of -3.3%. The ex-dividend date of this dividend is Friday, August 29th. National Bank's payout ratio is currently 38.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NBHC shares. Hovde Group lifted their target price on shares of National Bank from $39.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of National Bank from a "strong sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, DA Davidson increased 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. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, National Bank has an average rating of "Hold" and a consensus target price of $47.20.

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.