National Bank (NYSE:NBHC) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• National Bank’s shares moved above their 200-day moving average, reaching $42.10 before last trading at $41.8320. The stock has a $1.86 billion market capitalization and a beta of 0.79.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $46.80, although Stephens downgraded the stock to “equal weight” with a $46 target.
• The company reported quarterly EPS of $0.78, below the $0.81 consensus, while revenue rose 23.4% year over year to $129.94 million. National Bank also declared a quarterly dividend of $0.32, representing a 3.1% annualized yield.

National Bank Holdings Corporation (NYSE:NBHC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.00 and traded as high as $42.10. National Bank shares last traded at $41.8320, with a volume of 371,551 shares trading hands.

Analysts Set New Price Targets

NBHC has been the topic of several recent analyst reports. Weiss Ratings lowered shares of National Bank from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Stephens downgraded shares of National Bank from an "overweight" rating to an "equal weight" rating and set a $46.00 target price for the company. in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of National Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Piper Sandler reduced their price target on shares of National Bank from $52.00 to $51.00 and set an "overweight" rating on the stock in a research report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, National Bank has a consensus rating of "Moderate Buy" and an average target price of $46.80.

National Bank Trading Down 0.0%

The business has a 50 day simple moving average of $43.66 and a 200-day simple moving average of $42.00. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 17.58 and a beta of 0.79. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.97 and a quick ratio of 0.96.

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

National Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.28 dividend on an annualized basis and a yield of 3.1%. National Bank's payout ratio is presently 53.78%.

Institutional Investors Weigh In On National Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in National Bank by 34.3% in the 1st quarter. Royal Bank of Canada now owns 23,683 shares of the financial services provider's stock worth $906,000 after purchasing an additional 6,052 shares during the period. AQR Capital Management LLC raised its stake in shares of National Bank by 97.2% in the 1st 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. lifted 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 in the last quarter. Millennium Management LLC lifted 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in National Bank by 11.4% in the 1st 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 acquiring an additional 9,626 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

About National Bank

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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