National Bank (NYSE:NBHC) Lowered to “Neutral” at Piper Sandler

Piper Sandler lowered shares of National Bank (NYSE:NBHC) from an overweight rating to a neutral rating in a research report report published on Thursday morning, MarketBeat.com reports. Piper Sandler currently has $46.00 price objective on the financial services provider’s stock, up from their previous price objective of $42.00.

A number of other equities analysts also recently issued reports on NBHC. Hovde Group reduced their price target on National Bank from $45.00 to $40.50 and set an outperform rating on the stock in a research report on Monday, April 29th. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $39.00 target price (down from $40.00) on shares of National Bank in a research report on Friday, April 26th. StockNews.com downgraded National Bank from a hold rating to a sell rating in a report on Wednesday. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $43.30.

National Bank Trading Down 0.7 %

NBHC opened at $42.99 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 12.35 and a beta of 0.86. National Bank has a 12 month low of $28.38 and a 12 month high of $46.51. The stock has a fifty day moving average price of $38.65 and a 200-day moving average price of $35.94.

National Bank (NYSE:NBHC) last announced 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). National Bank had a return on equity of 10.44% and a net margin of 21.40%. The firm had revenue of $99.31 million during the quarter, compared to the consensus estimate of $102.96 million. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that National Bank will post 3.08 earnings per share for the current fiscal year.

National Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a $0.28 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a yield of 2.61%. This is a positive change from National Bank’s previous quarterly dividend of $0.27. National Bank’s dividend payout ratio is currently 32.18%.

Hedge Funds Weigh In On National Bank

A number of institutional investors have recently bought and sold shares of NBHC. Quest Partners LLC purchased a new position in shares of National Bank during the fourth quarter worth $194,000. Everence Capital Management Inc. acquired a new position in shares of National Bank in the 4th quarter valued at about $244,000. Mutual of America Capital Management LLC acquired a new position in shares of National Bank in the 4th quarter valued at about $246,000. ProShare Advisors LLC boosted its stake in shares of 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 buying an additional 513 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in National Bank by 15.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,924 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 1,067 shares during the period. 92.65% of the stock is owned by hedge funds and other 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.