National Bank (NYSE:NBHC) Lowered to Market Perform Rating by Hovde Group

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

NBHC has been the subject of several other research reports. Stephens lifted their target price on shares of National Bank from $46.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Piper Sandler lifted their price objective on National Bank from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their target price 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. DA Davidson lifted their target price on National Bank from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com cut shares of National Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.00.

National Bank Price Performance

NYSE:NBHC opened at $47.81 on Monday. The company has a market capitalization of $1.82 billion, a P/E ratio of 14.80 and a beta of 0.84. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.04. National Bank has a 52 week low of $32.13 and a 52 week high of $51.76. The stock’s fifty day moving average is $43.59 and its two-hundred day moving average is $40.76.

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

National Bank Increases Dividend

The business 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 $0.29 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.16 dividend on an annualized basis and a yield of 2.43%. This is a positive change from National Bank’s previous quarterly dividend of $0.28. National Bank’s dividend payout ratio (DPR) is currently 34.67%.

Insider Transactions at National Bank

In other National Bank news, insider Richard U. Jr. Newfield sold 19,259 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.81, for a total value of $959,290.79. Following the sale, the insider now directly owns 143,210 shares in the company, valued at $7,133,290.10. This trade represents a 11.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO G. Timothy Laney sold 16,063 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $43.34, for a total value of $696,170.42. Following the transaction, the chief executive officer now directly owns 256,026 shares of the company’s stock, valued at approximately $11,096,166.84. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,522 shares of company stock valued at $2,380,956. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On National Bank

Institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in National Bank during the second quarter worth approximately $41,000. Meeder Asset Management Inc. acquired a new stake in National Bank during the 2nd quarter worth $52,000. Assetmark Inc. acquired a new stake in National Bank during the 3rd quarter worth $71,000. Atria Investments Inc purchased a new stake in National Bank in the third quarter valued at $202,000. Finally, Choreo LLC acquired a new position in National Bank in the second quarter valued at $209,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

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.