National Bank (NYSE:NBHC) Sets New 1-Year High - What's Next?

Key Points

• 52-week high: National Bank (NBHC) reached a new 52-week high of $43.25 on Friday and last traded around $42.82, with a market capitalization near $1.92 billion.
• Quarterly results and dividend: NBHC reported $0.72 EPS versus $0.65 expected and revenue of $126.78M (slightly below the $129.3M estimate) with revenue up 37.8% year-over-year, and raised its quarterly dividend to $0.32 (annualized $1.28, ~3.0% yield).
• Analyst sentiment: The stock carries a consensus rating of Moderate Buy (five Buys, two Holds) with an average price target of $45.40 and recent targets as high as $48.00 from Piper Sandler.

National Bank Holdings Corporation (NYSE:NBHC - Get Free Report) shares reached a new 52-week high during trading on Friday . The stock traded as high as $43.25 and last traded at $42.8160, with a volume of 16555 shares. The stock had previously closed at $42.92.

Analyst Ratings Changes

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

National Bank Trading Down 0.9%

The company has a 50 day moving average of $40.30 and a two-hundred day moving average of $39.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.93 and a current ratio of 0.95. The stock has a market capitalization of $1.92 billion, a PE ratio of 15.88 and a beta of 0.78.

National Bank (NYSE:NBHC - Get Free Report) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.07. National Bank had a return on equity of 8.72% and a net margin of 17.14%.The firm had revenue of $126.78 million for the quarter, compared to the consensus estimate of $129.30 million. During the same period in the previous year, the business earned $0.63 EPS. The firm's revenue for the quarter was up 37.8% on a year-over-year basis. Sell-side analysts predict that National Bank Holdings Corporation will post 3.33 EPS for the current year.

National Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.28 dividend on an annualized basis and a yield of 3.0%. This is an increase from National Bank's previous quarterly dividend of $0.31. National Bank's payout ratio is presently 47.76%.

Insider Buying and Selling

In other news, insider John Steinmetz purchased 24,200 shares of the stock in a transaction on Wednesday, February 11th. The stock was bought at an average price of $41.41 per share, with a total value of $1,002,122.00. Following the transaction, the insider owned 536,504 shares in the company, valued at $22,216,630.64. The trade was a 4.72% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.80% of the company's stock.

Institutional Trading of National Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its position in National Bank by 336.6% during the 3rd quarter. New York State Common Retirement Fund now owns 56,373 shares of the financial services provider's stock worth $2,178,000 after acquiring an additional 43,462 shares during the period. JPMorgan Chase & Co. lifted its position in National Bank by 62.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 231,916 shares of the financial services provider's stock worth $8,961,000 after acquiring an additional 88,876 shares during the period. AlphaQuest LLC lifted its position in National Bank by 110.4% during the 3rd quarter. AlphaQuest LLC now owns 43,045 shares of the financial services provider's stock worth $1,663,000 after acquiring an additional 22,583 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in shares of National Bank by 97.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 80,567 shares of the financial services provider's stock valued at $3,113,000 after buying an additional 39,848 shares during the period. Finally, Deprince Race & Zollo Inc. acquired a new position in shares of National Bank in the 3rd quarter valued at about $14,240,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.