Wall Street Zen Upgrades National Bank (NYSE:NBHC) to Sell

Key Points

• Wall Street Zen upgraded National Bank (NYSE:NBHC) from a "strong sell" to a "sell", but the street remains mostly positive overall with a consensus rating of Moderate Buy and an average target price of $45.40 (multiple analysts maintain Buy/Overweight views).
• NBHC beat EPS estimates last quarter ($0.72 vs. $0.65) while revenue of $126.78M was slightly below expectations but up 37.8% year-over-year; the stock trades around $42.59 with a market cap of about $1.92 billion and a PE of 15.89.
• Insider John Steinmetz purchased 24,200 shares (≈$1.0M), increasing his stake to 536,504 shares; insiders own 6.8% of the company while institutional investors hold roughly 92.65%.

National Bank (NYSE:NBHC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday.

Several other research analysts have also weighed in on NBHC. DA Davidson reiterated a "buy" rating and issued a $46.00 price objective on shares of National Bank in a research report on Wednesday. Piper Sandler began coverage on National Bank in a research report on Wednesday, March 25th. They issued an "overweight" rating and a $48.00 price objective for the company. Finally, Weiss Ratings upgraded National Bank from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 30th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $45.40.

National Bank Trading Down 0.8%

NBHC opened at $42.59 on Friday. The stock has a market capitalization of $1.92 billion, a PE ratio of 15.89 and a beta of 0.78. National Bank has a one year low of $34.90 and a one year high of $43.25. 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 business's 50 day moving average price is $40.31 and its 200 day moving average price is $39.20.

National Bank (NYSE:NBHC - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $126.78 million during the quarter, compared to analyst estimates of $129.30 million. National Bank had a return on equity of 8.72% and a net margin of 17.14%.The firm's revenue for the quarter was up 37.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. As a group, equities research analysts expect that National Bank will post 3.3 EPS for the current year.

Insiders Place Their Bets

In other National Bank news, insider John Steinmetz purchased 24,200 shares of the firm's 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 directly owned 536,504 shares of the company's stock, valued at approximately $22,216,630.64. This represents a 4.72% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.80% of the company's stock.

Institutional Trading of National Bank

Large investors have recently modified their holdings of the stock. New York State Common Retirement Fund increased its position in shares of National Bank by 336.6% during the third 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 shares of 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 purchasing an additional 88,876 shares during the last quarter. AlphaQuest LLC lifted its position in shares of 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 purchasing an additional 22,583 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of National Bank by 97.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 80,567 shares of the financial services provider's stock worth $3,113,000 after purchasing an additional 39,848 shares during the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new stake in shares of National Bank during the 3rd quarter worth $14,240,000. 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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