National Bank (NYSE:NBHC) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of National Bank (NYSE:NBHCFree Report) from a hold rating to a sell rating in a research report released on Tuesday morning.

Several other analysts have also recently issued reports on the company. Piper Sandler raised their target price on National Bank from $40.00 to $41.00 and gave the stock an overweight rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $39.00 price objective (down from $40.00) on shares of National Bank in a research report on Friday, April 26th. Hovde Group cut their price objective on National Bank from $45.00 to $40.50 and set an outperform rating on the stock in a research report on Monday, April 29th. Finally, TheStreet cut National Bank from a b rating to a c+ rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $38.63.

Read Our Latest Stock Analysis on NBHC

National Bank Stock Up 0.5 %

NBHC opened at $37.30 on Tuesday. The company has a market cap of $1.41 billion, a P/E ratio of 10.72 and a beta of 0.84. The business’s 50-day moving average price is $34.53 and its 200-day moving average price is $34.68. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.04. National Bank has a 12 month low of $28.38 and a 12 month high of $38.71.

National Bank (NYSE:NBHCGet Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.03. The company had revenue of $149.43 million for the quarter, compared to analysts’ expectations of $101.98 million. National Bank had a return on equity of 11.20% and a net margin of 22.94%. During the same period last year, the firm earned $1.06 earnings per share. On average, equities analysts expect that National Bank will post 3.13 EPS for the current year.

National Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a $0.28 dividend. This is a boost from National Bank’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, May 31st. National Bank’s payout ratio is currently 31.03%.

Institutional Trading of National Bank

Hedge funds have recently made changes to their positions in the stock. Swiss National Bank boosted its position in shares of National Bank by 1.2% in the 3rd quarter. Swiss National Bank now owns 66,400 shares of the financial services provider’s stock worth $1,976,000 after purchasing an additional 800 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in National Bank by 353.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 201,893 shares of the financial services provider’s stock worth $6,008,000 after acquiring an additional 157,359 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in National Bank in the 3rd quarter worth approximately $660,000. Charles Schwab Investment Management Inc. raised its holdings in National Bank by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 298,048 shares of the financial services provider’s stock worth $8,870,000 after acquiring an additional 11,562 shares during the last quarter. Finally, Jackson Hole Capital Partners LLC purchased a new position in National Bank in the 4th quarter worth approximately $17,537,000. 92.65% of the stock is owned by institutional investors.

National Bank Company Profile

(Get Free Report)

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.

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