National Bank (NYSE:NBHC) Rating Increased to Outperform at Hovde Group

Key Points

• National Bank has been upgraded by Hovde Group from a "market perform" rating to an "outperform" rating, with a new price target of $46.00, indicating an 18.58% potential upside from its current price.
• Other analysts like DA Davidson and Keefe, Bruyette & Woods have also recently increased their target prices, with a consensus rating of "Moderate Buy" and an average target price of $46.60.
• The company reported earnings of $0.88 per share for the last quarter, which exceeded expectations, while its revenue increased 7.0% year-over-year despite falling short of analyst forecasts.

Hovde Group upgraded shares of National Bank (NYSE:NBHC - Free Report) from a market perform rating to an outperform rating in a report published on Thursday morning, MarketBeat.com reports. They currently have $46.00 target price on the financial services provider's stock.

NBHC has been the topic of several other research reports. Zacks Research upgraded shares of National Bank from a "hold" rating to a "strong-buy" rating in a report on Monday, September 1st. 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. Keefe, Bruyette & Woods raised their price target on National Bank from $44.00 to $45.00 and gave the stock a "market perform" rating in a research report on Wednesday, September 17th. Finally, DA Davidson lifted their price objective on shares of National Bank from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, National Bank presently has an average rating of "Moderate Buy" and a consensus target price of $46.60.

National Bank Stock Down 1.8%

NBHC traded down $0.71 during trading hours on Thursday, hitting $39.26. 86,805 shares of the company's stock were exchanged, compared to its average volume of 267,418. National Bank has a 1-year low of $32.83 and a 1-year high of $51.76. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 12.65 and a beta of 0.78. The stock's 50-day moving average is $38.56 and its two-hundred day moving average is $37.67. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.18.

National Bank (NYSE:NBHC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. National Bank had a net margin of 20.02% and a return on equity of 9.44%. The firm had revenue of $104.48 million for the quarter, compared to the consensus estimate of $110.36 million. During the same period in the prior year, the company posted $0.68 earnings per share. The business's revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts predict that National Bank will post 3.31 earnings per share for the current fiscal year.

National Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $-0.30 per share. This represents a ($1.20) dividend on an annualized basis and a yield of -3.1%. The ex-dividend date of this dividend was Friday, August 29th. National Bank's dividend payout ratio is currently 38.71%.

Institutional Trading of National Bank

Hedge funds have recently added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in National Bank during the 1st quarter worth approximately $21,123,000. Westwood Holdings Group Inc. raised its position in National Bank by 30.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,450,227 shares of the financial services provider's stock valued at $55,500,000 after buying an additional 335,741 shares during the period. Millennium Management LLC raised its position in National Bank by 2,057.9% during the first quarter. Millennium Management LLC now owns 199,453 shares of the financial services provider's stock valued at $7,633,000 after buying an additional 190,210 shares during the period. Boston Partners grew its stake in National Bank by 40.6% in the first quarter. Boston Partners now owns 567,150 shares of the financial services provider's stock valued at $21,702,000 after purchasing an additional 163,895 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of National Bank by 2.6% during the 1st quarter. Victory Capital Management Inc. now owns 2,851,786 shares of the financial services provider's stock worth $109,138,000 after acquiring an additional 72,805 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

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.