Jacobs Asset Management LLC trimmed its position in shares of National Bank Holdings Corporation (NYSE:NBHC – Free Report) by 35.1% during the 1st quarter, Holdings Channel reports. The fund owned 120,000 shares of the financial services provider’s stock after selling 65,000 shares during the period. National Bank makes up approximately 2.8% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Jacobs Asset Management LLC’s holdings in National Bank were worth $4,699,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in National Bank in the first quarter worth $219,000. Inceptionr LLC purchased a new stake in National Bank during the first quarter valued at $223,000. Sei Investments Co. lifted its position in National Bank by 5.9% during the first quarter. Sei Investments Co. now owns 337,005 shares of the financial services provider’s stock valued at $13,197,000 after purchasing an additional 18,785 shares during the last quarter. First Trust Advisors LP lifted its position in National Bank by 1.4% during the first quarter. First Trust Advisors LP now owns 132,026 shares of the financial services provider’s stock valued at $5,170,000 after purchasing an additional 1,766 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of National Bank by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,100,944 shares of the financial services provider’s stock worth $82,271,000 after buying an additional 40,669 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Piper Sandler boosted their target price on shares of National Bank from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Wall Street Zen raised shares of National Bank from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Stephens dropped their price target on National Bank from $49.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday. Weiss Ratings raised National Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Finally, DA Davidson restated a “buy” rating and set a $46.00 price objective on shares of National Bank in a research report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.00.
National Bank Stock Up 0.6%
NYSE NBHC opened at $43.40 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.20. National Bank Holdings Corporation has a 52 week low of $35.06 and a 52 week high of $47.28. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 18.24 and a beta of 0.78. The company has a fifty day moving average of $43.38 and a two-hundred day moving average of $41.63.
National Bank (NYSE:NBHC – Get Free Report) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.03). The firm had revenue of $129.06 million during the quarter, compared to analysts’ expectations of $135.08 million. National Bank had a net margin of 15.11% and a return on equity of 8.35%. The company’s revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. On average, analysts predict that National Bank Holdings Corporation will post 3.41 earnings per share for the current year.
National Bank Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, May 29th. National Bank’s dividend payout ratio is presently 53.78%.
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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