Zacks Investment Research Downgrades National Bank (NBHC) to Hold

Zacks Investment Research Downgrades National Bank (NBHC) to Hold

Zacks Investment Research cut shares of National Bank (NYSE:NBHC) from a buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “National Bank Holdings Corporation is a bank holding company operating full-service banking centers, with the majority of those banking centers located in Colorado and the greater Kansas City region. The Company, through its subsidiaries, provides services through community banking franchises serving the needs of retail and business customers. National Bank Holdings Corporation is based in Greenwood Village, Colorado. “

Separately, Stephens restated a hold rating and issued a $35.00 price target on shares of National Bank in a research report on Friday, January 25th. Five investment analysts have rated the stock with a hold rating, National Bank currently has a consensus rating of Hold and an average target price of $39.00.

Shares of NYSE:NBHC traded up $0.45 during midday trading on Wednesday, hitting $38.71. The company had a trading volume of 110,448 shares, compared to its average volume of 141,135. National Bank has a 12 month low of $29.26 and a 12 month high of $41.44. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.19 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.66 and a beta of 1.06.

National Bank (NYSE:NBHC) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.03. National Bank had a return on equity of 10.52% and a net margin of 24.13%. The business had revenue of $68.22 million for the quarter, compared to analyst estimates of $67.99 million. During the same period last year, the company earned $0.27 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts expect that National Bank will post 2.33 earnings per share for the current year.

In other news, insider Whitney A. Bartelli sold 840 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $34.45, for a total value of $28,938.00. Following the transaction, the insider now directly owns 1,952 shares in the company, valued at approximately $67,246.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Burney S. Warren III sold 19,233 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $35.63, for a total value of $685,271.79. Following the completion of the transaction, the director now owns 41,182 shares in the company, valued at $1,467,314.66. The disclosure for this sale can be found here. Insiders sold a total of 74,898 shares of company stock worth $2,678,707 over the last 90 days. 5.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. FDx Advisors Inc. raised its stake in National Bank by 3.9% during the 4th quarter. FDx Advisors Inc. now owns 11,032 shares of the financial services provider’s stock worth $341,000 after buying an additional 418 shares during the period. BW Gestao de Investimentos Ltda. raised its stake in National Bank by 2.7% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 19,923 shares of the financial services provider’s stock worth $615,000 after buying an additional 517 shares during the period. Bbva Compass Bancshares Inc. raised its stake in National Bank by 2.2% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 25,067 shares of the financial services provider’s stock worth $834,000 after buying an additional 531 shares during the period. Rhumbline Advisers raised its stake in National Bank by 0.7% during the 1st quarter. Rhumbline Advisers now owns 79,052 shares of the financial services provider’s stock worth $2,629,000 after buying an additional 588 shares during the period. Finally, Texas Permanent School Fund raised its stake in National Bank by 4.1% during the 4th quarter. Texas Permanent School Fund now owns 16,913 shares of the financial services provider’s stock worth $522,000 after buying an additional 669 shares during the period. 91.66% of the stock is currently owned by institutional investors and hedge funds.

About National Bank

National Bank Holdings Corporation operates as the bank holding company for NBH Bank, N.A. that provides various banking products and financial services to commercial, business, and consumer clients in the United States. The company offers deposit products, including checking accounts, savings accounts, money market accounts, and other deposit accounts, including fixed-rate and fixed maturity time deposits.

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