National Bank (NYSE:NBHC) Downgraded by Hovde Group to “Market Perform”

Hovde Group downgraded shares of National Bank (NYSE:NBHC) from an outperform rating to a market perform rating in a research note published on Monday morning, MarketBeat Ratings reports. They currently have $55.00 price target on the financial services provider’s stock.

Several other research analysts also recently commented on NBHC. StockNews.com downgraded National Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Piper Sandler increased their target price on National Bank from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price target on National Bank from $39.00 to $45.00 and gave the company a “market perform” rating in a report on Monday, July 29th. DA Davidson raised their price objective on shares of National Bank from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Stephens upped their target price on shares of National Bank from $46.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.00.

National Bank Price Performance

Shares of NBHC stock opened at $47.00 on Monday. National Bank has a 12 month low of $32.13 and a 12 month high of $51.76. The company has a market capitalization of $1.79 billion, a P/E ratio of 14.63 and a beta of 0.84. The stock has a 50 day moving average of $43.84 and a two-hundred day moving average of $40.94. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.04.

National Bank (NYSE:NBHC) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. The business had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $102.32 million. National Bank had a net margin of 20.52% and a return on equity of 9.93%. During the same quarter in the previous year, the firm posted $0.94 earnings per share. As a group, equities analysts expect that National Bank will post 3.18 EPS for the current year.

National Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.29 per share. This is a positive change from National Bank’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Friday, November 29th. National Bank’s dividend payout ratio is 34.67%.

Insider Transactions at National Bank

In related news, insider Valerie D. Kramer sold 1,275 shares of National Bank stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $49.62, for a total transaction of $63,265.50. Following the completion of the sale, the insider now directly owns 10,652 shares of the company’s stock, valued at approximately $528,552.24. This trade represents a 10.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christopher S. Randall sold 3,750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $43.51, for a total value of $163,162.50. Following the completion of the transaction, the executive vice president now directly owns 14,365 shares in the company, valued at approximately $625,021.15. This represents a 20.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,522 shares of company stock worth $2,380,956 in the last ninety days. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in shares of National Bank by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,450 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 513 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in National Bank by 53.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,169 shares of the financial services provider’s stock worth $541,000 after buying an additional 5,650 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in National Bank by 3.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 30,130 shares of the financial services provider’s stock worth $1,086,000 after acquiring an additional 1,100 shares during the last quarter. Westwood Holdings Group Inc. increased its position in National Bank by 2.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 935,119 shares of the financial services provider’s stock valued at $33,730,000 after acquiring an additional 19,016 shares during the period. Finally, Keeley Teton Advisors LLC raised its stake in shares of National Bank by 12.9% during the first quarter. Keeley Teton Advisors LLC now owns 48,103 shares of the financial services provider’s stock valued at $1,735,000 after acquiring an additional 5,486 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

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.