Westwood Holdings Group Inc. Grows Position in 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 stake in shares of National Bank Holdings Corporation (NYSE:NBHC - Free Report) by 30.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,450,227 shares of the financial services provider's stock after purchasing an additional 335,741 shares during the period. Westwood Holdings Group Inc. owned approximately 3.81% of National Bank worth $55,500,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NBHC. Bank of Montreal Can boosted its holdings 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 during the last quarter. CWM LLC lifted its holdings in National Bank by 158.4% during the 1st quarter. CWM LLC now owns 783 shares of the financial services provider's stock worth $30,000 after purchasing an additional 480 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of National Bank by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,987 shares of the financial services provider's stock valued at $904,000 after acquiring an additional 715 shares during the period. Quarry LP grew its position in shares of National Bank by 503.1% during the 4th quarter. Quarry LP now owns 971 shares of the financial services provider's stock worth $42,000 after purchasing an additional 810 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in 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. Institutional investors own 92.65% of the company's stock.

National Bank Price Performance

Shares of National Bank stock traded down $0.21 during midday trading on Thursday, hitting $36.10. 282,332 shares of the company traded hands, compared to its average volume of 365,675. The firm's fifty day moving average price is $37.91 and its 200-day moving average price is $38.57. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 11.65 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 debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.93.

National Bank (NYSE:NBHC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.88 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 9.44% and a net margin of 20.02%. The business's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. As a group, sell-side analysts forecast that National Bank Holdings Corporation will post 3.31 earnings per share for the current 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 issued a dividend of $-0.30 per share. This represents a ($1.20) dividend on an annualized basis and a dividend yield of -3.3%. The ex-dividend date is Friday, August 29th. National Bank's dividend payout ratio (DPR) is currently 38.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NBHC shares. DA Davidson increased 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. Hovde Group increased their price target 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. Finally, Wall Street Zen raised shares of National Bank from a "strong sell" rating to a "hold" rating in a research note on Saturday, July 26th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.