National Bank (NYSE:NBHC) Downgraded by Stephens to "Equal Weight"

Key Points

• Stephens downgraded National Bank Holdings from “overweight” to “equal weight” and set a $46 price target, implying approximately 6.4% upside from the reported share price.
• Analyst sentiment remains broadly positive, with four “buy” and three “hold” ratings; the consensus rating is “Moderate Buy” with an average price target of $46.80.
• National Bank missed quarterly expectations, reporting $0.78 in EPS versus the $0.81 consensus and revenue of $129.94 million versus $135.08 million expected, although revenue increased 23.4% year over year.

National Bank (NYSE:NBHC - Get Free Report) was downgraded by equities research analysts at Stephens from an "overweight" rating to an "equal weight" rating in a research note issued on Thursday, MarketBeat reports. They presently have a $46.00 price objective on the financial services provider's stock. Stephens' price target suggests a potential upside of 6.41% from the company's current price.

Other equities analysts also recently issued research reports about the company. Piper Sandler dropped their price objective on National Bank from $52.00 to $51.00 and set an "overweight" rating on the stock in a research note on Monday, July 27th. Weiss Ratings raised shares of National Bank from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of National Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, DA Davidson reiterated a "buy" rating and issued a $46.00 target price on shares of National Bank in a research note on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $46.80.

National Bank Stock Performance

Shares of National Bank stock opened at $43.23 on Thursday. The firm has a market capitalization of $1.94 billion, a P/E ratio of 18.16 and a beta of 0.79. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. The business's fifty day simple moving average is $43.54 and its 200 day simple moving average is $41.81. National Bank has a 12 month low of $35.06 and a 12 month high of $47.28.

National Bank (NYSE:NBHC - Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). National Bank had a net margin of 15.11% and a return on equity of 8.35%. The business had revenue of $129.94 million for the quarter, compared to analysts' expectations of $135.08 million. During the same period in the prior year, the business earned $0.88 earnings per share. The company's revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, analysts anticipate that National Bank will post 3.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NBHC. Endeavour Capital Advisors Inc. bought a new stake in shares of National Bank during the 4th quarter worth $6,659,000. Deprince Race & Zollo Inc. grew its position in National Bank by 215.4% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,162,432 shares of the financial services provider's stock worth $44,184,000 after acquiring an additional 793,902 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in National Bank in the fourth quarter valued at $950,000. Hsbc Holdings PLC increased its stake in National Bank by 1,188.0% in 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. Finally, Dimensional Fund Advisors LP raised its position in National Bank by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,100,944 shares of the financial services provider's stock valued at $82,271,000 after purchasing an additional 40,669 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

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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