National Bank (NYSE:NBHC) Issues Earnings Results, Beats Estimates By $0.06 EPS

National Bank (NYSE:NBHC - Get Free Report) released its earnings results on Tuesday. The financial services provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06, Zacks reports. The firm had revenue of $104.48 million for the quarter, compared to the consensus estimate of $110.36 million. National Bank had a return on equity of 9.44% and a net margin of 20.02%. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

National Bank Stock Down 0.5%

National Bank stock traded down $0.21 during midday trading on Friday, reaching $39.28. The company's stock had a trading volume of 417,816 shares, compared to its average volume of 269,174. The stock's 50-day simple moving average is $37.86 and its 200-day simple moving average is $38.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.92. National Bank has a 52-week low of $32.83 and a 52-week high of $51.76. The stock has a market capitalization of $1.50 billion, a P/E ratio of 12.67 and a beta of 0.77.

National Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from National Bank's previous quarterly dividend of $0.29. National Bank's payout ratio is presently 38.71%.

Institutional Investors Weigh In On National Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBHC. Royal Bank of Canada raised its stake in National Bank by 34.3% in the first quarter. Royal Bank of Canada now owns 23,683 shares of the financial services provider's stock valued at $906,000 after buying an additional 6,052 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of National Bank by 97.2% in the first quarter. AQR Capital Management LLC now owns 26,300 shares of the financial services provider's stock valued at $1,007,000 after purchasing an additional 12,962 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of National Bank by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,066 shares of the financial services provider's stock valued at $844,000 after purchasing an additional 1,079 shares during the period. Millennium Management LLC increased its holdings in shares of National Bank by 2,057.9% in the first quarter. Millennium Management LLC now owns 199,453 shares of the financial services provider's stock valued at $7,633,000 after purchasing an additional 190,210 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of National Bank by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,367 shares of the financial services provider's stock valued at $3,611,000 after purchasing an additional 9,626 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NBHC. Wall Street Zen cut National Bank from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. DA Davidson upped their target price on National Bank from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Hovde Group upped their target price on National Bank from $39.00 to $42.00 and gave the stock a "market perform" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average 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.