Maryland State Retirement & Pension System Cuts Position in National Bank Holdings Corporation (NYSE:NBHC)

Maryland State Retirement & Pension System trimmed its position in shares of National Bank Holdings Corporation (NYSE:NBHC) by 13.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,102 shares of the financial services provider’s stock after selling 1,703 shares during the period. Maryland State Retirement & Pension System’s holdings in National Bank were worth $425,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in National Bank by 158.4% in the first quarter. CWM LLC now owns 783 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 480 shares in the last quarter. Quarry LP boosted its holdings in National Bank by 503.1% in the fourth quarter. Quarry LP now owns 971 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 810 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in National Bank by 815.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,181 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,052 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in National Bank in the fourth quarter valued at approximately $174,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in National Bank in the first quarter valued at approximately $217,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NBHC. Hovde Group upped their price target on National Bank from $39.00 to $42.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. DA Davidson lifted their target price on shares of National Bank from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Wall Street Zen raised shares of National Bank from a “strong sell” rating to a “hold” rating in a report on Saturday, July 26th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, National Bank has an average rating of “Hold” and a consensus price target of $47.20.

National Bank Stock Performance

Shares of National Bank stock opened at $37.69 on Friday. The firm’s fifty day simple moving average is $38.04 and its 200-day simple moving average is $38.34. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 12.16 and a beta of 0.77. National Bank Holdings Corporation has a 12 month low of $32.83 and a 12 month high of $51.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.93 and a quick ratio of 0.93.

National Bank (NYSE:NBHC) last issued its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. National Bank had a return on equity of 9.44% and a net margin of 20.02%. The firm had revenue of $104.48 million during the quarter, compared to the consensus estimate of $110.36 million. During the same period last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts forecast that National Bank Holdings Corporation will post 3.31 earnings per share for the current year.

National Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $-0.30 dividend. The ex-dividend date is Friday, August 29th. This represents a ($1.20) annualized dividend and a yield of -3.2%. National Bank’s dividend payout ratio is presently 38.71%.

National Bank 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.