National Bank (NYSE:NBHC) Releases Earnings Results

Key Points

• EPS beat: National Bank reported Q earnings of $0.72 per share, beating the $0.65 consensus, while revenue was $126.78 million (slightly below estimates) but up 37.8% year-over-year.
• Dividend increase: The company raised its quarterly dividend to $0.32 (from $0.31), equal to an annualized $1.28 and a ~3.0% yield with a 44.91% payout ratio.
• Insider and market sentiment: Insider John Steinmetz bought 24,200 shares, boosting his stake and reflecting 6.8% insider ownership; institutional investors own 92.65% and analysts carry a consensus "Moderate Buy" with a $45.40 target (some firms set higher targets up to $48).

National Bank (NYSE:NBHC - Get Free Report) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.65 by $0.07, FiscalAI reports. National Bank had a net margin of 18.66% and a return on equity of 8.65%. The business had revenue of $126.78 million for the quarter, compared to analysts' expectations of $129.30 million. During the same period in the previous year, the company posted $0.63 EPS. National Bank's revenue was up 37.8% on a year-over-year basis.

National Bank Stock Down 0.2%

NBHC stock opened at $42.07 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.04. National Bank has a 1 year low of $33.75 and a 1 year high of $43.09. The company has a fifty day simple moving average of $40.26 and a 200 day simple moving average of $39.13. The firm has a market cap of $1.89 billion, a PE ratio of 14.76 and a beta of 0.78.

National Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, February 27th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.0%. This is an increase from National Bank's previous quarterly dividend of $0.31. National Bank's payout ratio is 44.91%.

Insider Buying and Selling

In other National Bank news, insider John Steinmetz bought 24,200 shares of the stock in a transaction on Wednesday, February 11th. The shares were purchased at an average cost of $41.41 per share, with a total value of $1,002,122.00. Following the completion of the transaction, the insider directly owned 536,504 shares of the company's stock, valued at $22,216,630.64. This represents a 4.72% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NBHC. Mercer Global Advisors Inc. ADV acquired a new stake in National Bank in the 4th quarter worth approximately $326,000. Empowered Funds LLC grew its holdings in National Bank by 4.4% during the fourth quarter. Empowered Funds LLC now owns 151,699 shares of the financial services provider's stock valued at $5,766,000 after purchasing an additional 6,446 shares during the last quarter. XTX Topco Ltd bought a new position in shares of National Bank in the fourth quarter valued at approximately $910,000. Voloridge Investment Management LLC lifted its stake in shares of National Bank by 47.5% in the fourth quarter. Voloridge Investment Management LLC now owns 96,233 shares of the financial services provider's stock worth $3,658,000 after buying an additional 31,002 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new stake in shares of National Bank in the fourth quarter worth $468,000. Institutional investors and hedge funds own 92.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NBHC shares. DA Davidson reiterated a "buy" rating and set a $46.00 price objective on shares of National Bank in a report on Monday, April 6th. Wall Street Zen lowered National Bank from a "hold" rating to a "sell" rating in a research report on Saturday, January 31st. Weiss Ratings raised National Bank from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 30th. Finally, Piper Sandler began coverage on National Bank in a research note on Wednesday, March 25th. They set an "overweight" rating and a $48.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, National Bank has a consensus rating of "Moderate Buy" and a consensus target price of $45.40.

About National Bank

National Bank Holdings Corporation NYSE: NBHC is a diversified financial services holding company headquartered in Cape Girardeau, Missouri. Through its network of community bank subsidiaries, the company provides deposit, lending and payment solutions to consumer, small business and commercial clients across multiple U.S. markets.

Since its founding in 1992, National Bank Holdings has pursued a growth strategy focused on acquiring and integrating locally branded community banks. Its footprint spans the Midwest and Southern United States, including Missouri, Kansas, Oklahoma, Texas, Colorado, Illinois and Tennessee.