Assenagon Asset Management S.A. Sells 52,659 Shares of National Bank Holdings Co. (NYSE:NBHC)

Assenagon Asset Management S.A. trimmed its holdings in shares of National Bank Holdings Co. (NYSE:NBHC) by 31.4% in the 2nd quarter, Holdings Channel reports. The firm owned 114,959 shares of the financial services provider’s stock after selling 52,659 shares during the quarter. Assenagon Asset Management S.A.’s holdings in National Bank were worth $4,489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Texas Permanent School Fund Corp raised its holdings in shares of National Bank by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 33,069 shares of the financial services provider’s stock valued at $1,193,000 after acquiring an additional 449 shares in the last quarter. ProShare Advisors LLC raised its holdings in National Bank by 7.4% in the first quarter. ProShare Advisors LLC now owns 7,450 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 513 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in National Bank by 15.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,924 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 1,067 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in National Bank by 3.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 30,130 shares of the financial services provider’s stock worth $1,086,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Natixis Advisors L.P. raised its holdings in National Bank by 8.1% in the fourth quarter. Natixis Advisors L.P. now owns 14,693 shares of the financial services provider’s stock worth $546,000 after purchasing an additional 1,103 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NBHC shares. DA Davidson boosted their price target 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 lowered National Bank from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $42.00 to $46.00 in a research note on Thursday, July 25th. Keefe, Bruyette & Woods boosted their price target on National Bank from $39.00 to $45.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Stephens boosted their price target on National Bank from $38.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, StockNews.com lowered National Bank from a “hold” rating to a “sell” rating in a research note 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 data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.40.

Insider Buying and Selling

In other news, CEO G. Timothy Laney sold 49,763 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $42.64, for a total transaction of $2,121,894.32. Following the completion of the sale, the chief executive officer now owns 272,126 shares in the company, valued at approximately $11,603,452.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Patrick G. Sobers sold 18,738 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $43.10, for a total transaction of $807,607.80. Following the completion of the transaction, the director now directly owns 20,788 shares of the company’s stock, valued at $895,962.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO G. Timothy Laney sold 49,763 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $42.64, for a total transaction of $2,121,894.32. Following the completion of the sale, the chief executive officer now directly owns 272,126 shares in the company, valued at approximately $11,603,452.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,226 shares of company stock worth $2,958,625. 3.10% of the stock is owned by corporate insiders.

National Bank Price Performance

Shares of NYSE NBHC opened at $41.37 on Monday. The business’s 50 day moving average price is $39.84 and its 200 day moving average price is $36.50. The firm has a market cap of $1.56 billion, a P/E ratio of 11.89 and a beta of 0.86. National Bank Holdings Co. has a 52 week low of $28.38 and a 52 week high of $46.51. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.07.

National Bank (NYSE:NBHC) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The firm had revenue of $99.31 million during the quarter, compared to analysts’ expectations of $102.96 million. National Bank had a net margin of 21.40% and a return on equity of 10.44%. National Bank’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. On average, sell-side analysts expect that National Bank Holdings Co. will post 2.99 earnings per share for the current year.

National Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 2.71%. National Bank’s dividend payout ratio is presently 32.18%.

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.