National Bank (NYSE:NBHC) Shares Gap Up on Strong Earnings

National Bank Holdings Co. (NYSE:NBHC)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $41.87, but opened at $43.97. National Bank shares last traded at $43.41, with a volume of 15,116 shares traded.

The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.76 by $0.10. National Bank had a net margin of 21.40% and a return on equity of 10.44%. The business had revenue of $156.39 million during the quarter, compared to the consensus estimate of $102.32 million. During the same quarter in the prior year, the firm earned $0.94 EPS.

National Bank Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.28 per share. The ex-dividend date was Friday, August 30th. This represents a $1.12 annualized dividend and a yield of 2.57%. National Bank’s dividend payout ratio is presently 32.18%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NBHC. Stephens increased their price objective on National Bank from $38.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. DA Davidson increased their price objective on National Bank from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Piper Sandler downgraded National Bank from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $42.00 to $46.00 in a report on Thursday, July 25th. Hovde Group raised their price objective on National Bank from $42.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, StockNews.com downgraded shares of National Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, National Bank has a consensus rating of “Hold” and a consensus target price of $46.40.

Insiders Place Their Bets

In other National Bank news, Director Art Zeile sold 3,875 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $41.27, for a total value of $159,921.25. Following the completion of the sale, the director now owns 16,202 shares of the company’s stock, valued at $668,656.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other National Bank news, Director Patrick G. Sobers sold 18,738 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $43.10, for a total value of $807,607.80. Following the completion of the sale, the director now owns 20,788 shares in the company, valued at approximately $895,962.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Art Zeile sold 3,875 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $41.27, for a total value of $159,921.25. Following the sale, the director now directly owns 16,202 shares of the company’s stock, valued at approximately $668,656.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,192 shares of company stock valued at $4,431,998 over the last 90 days. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On National Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of National Bank in the second quarter valued at about $41,000. Meeder Asset Management Inc. purchased a new position in National Bank during the 2nd quarter valued at about $52,000. Choreo LLC bought a new position in National Bank during the 2nd quarter valued at approximately $209,000. ProShare Advisors LLC lifted its holdings in National Bank by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,450 shares of the financial services provider’s stock worth $269,000 after buying an additional 513 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of National Bank in the 2nd quarter worth approximately $319,000. 92.65% of the stock is currently owned by institutional investors.

National Bank Stock Up 4.2 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $1.65 billion, a PE ratio of 12.03 and a beta of 0.85. The company has a 50 day moving average price of $41.94 and a 200-day moving average price of $39.06.

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.