National Bank (NYSE:NBHC) Coverage Initiated at Piper Sandler

Key Points

• Piper Sandler initiated coverage on National Bank (NYSE:NBHC) with an overweight rating and a $48 price target, implying about a 24.8% upside from the current price.
• National Bank recently missed quarterly estimates—EPS $0.60 vs. $0.87 expected and revenue $99.08M vs. $107.48M—though analysts project roughly 3.31 EPS for the current year.
• Insider John Steinmetz purchased 24,200 shares (≈$1.0M), increasing his holdings to 536,504 shares, while institutional investors own about 92.65% of the stock.

Equities research analysts at Piper Sandler assumed coverage on shares of National Bank (NYSE:NBHC - Get Free Report) in a research note issued on Wednesday. The firm set an "overweight" rating and a $48.00 price target on the financial services provider's stock. Piper Sandler's target price would indicate a potential upside of 24.77% from the company's current price.

NBHC has been the subject of a number of other research reports. Wall Street Zen downgraded shares of National Bank from a "hold" rating to a "sell" rating in a research report on Saturday, January 31st. Zacks Research upgraded National Bank from a "strong sell" rating to a "hold" rating in a research report on Monday, December 22nd. DA Davidson reaffirmed a "buy" rating and issued a $48.00 price target on shares of National Bank in a report on Thursday, February 19th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of National Bank in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, National Bank has an average rating of "Moderate Buy" and a consensus target price of $45.80.

National Bank Trading Up 1.1%

National Bank stock opened at $38.47 on Wednesday. The firm has a market cap of $1.73 billion, a PE ratio of 13.50 and a beta of 0.79. National Bank has a 12 month low of $32.83 and a 12 month high of $42.99. The stock's 50 day simple moving average is $40.41 and its two-hundred day simple moving average is $38.91. 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 (NYSE:NBHC - Get Free Report) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.27). National Bank had a net margin of 18.66% and a return on equity of 8.65%. The firm had revenue of $99.08 million during the quarter, compared to analyst estimates of $107.48 million. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Analysts anticipate that National Bank will post 3.31 earnings per share for the current year.

Insider Activity

In related news, insider John Steinmetz bought 24,200 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was acquired at an average price of $41.41 per share, with a total value of $1,002,122.00. Following the completion of the purchase, the insider directly owned 536,504 shares of the company's stock, valued at approximately $22,216,630.64. This trade represents a 4.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On National Bank

Several institutional investors have recently bought and sold shares of NBHC. Hsbc Holdings PLC raised its holdings in shares of National Bank by 1,188.0% during the fourth quarter. Hsbc Holdings PLC now owns 186,020 shares of the financial services provider's stock valued at $7,071,000 after acquiring an additional 171,578 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of National Bank in the fourth quarter worth approximately $326,000. Empowered Funds LLC increased its position in shares of National Bank by 4.4% during the fourth quarter. Empowered Funds LLC now owns 151,699 shares of the financial services provider's stock worth $5,766,000 after purchasing an additional 6,446 shares in the last quarter. XTX Topco Ltd acquired a new position in National Bank in the 4th quarter valued at $910,000. Finally, Voloridge Investment Management LLC lifted its holdings in National Bank by 47.5% in the 4th quarter. Voloridge Investment Management LLC now owns 96,233 shares of the financial services provider's stock valued at $3,658,000 after purchasing an additional 31,002 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

National Bank Company Profile

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.

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