Hovde Group Lowers National Bank (NYSE:NBHC) Price Target to $40.50

National Bank (NYSE:NBHC) had its price target dropped by Hovde Group from $45.00 to $40.50 in a note issued to investors on Monday, Briefing.com reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s price target indicates a potential upside of 20.90% from the company’s previous close.

Several other analysts have also recently weighed in on NBHC. TheStreet cut National Bank from a “b” rating to a “c+” rating in a report on Monday, March 18th. Piper Sandler lifted their target price on National Bank from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $39.00 target price (down previously from $40.00) on shares of National Bank in a report on Friday. Finally, StockNews.com cut shares of National Bank from a “hold” rating to a “sell” rating in a research note on Sunday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.63.

National Bank Stock Down 0.4 %

Shares of NBHC stock opened at $33.50 on Monday. The firm’s 50-day moving average is $34.14 and its 200-day moving average is $34.14. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 9.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.91 and a current ratio of 0.91. National Bank has a 52-week low of $26.48 and a 52-week high of $38.71.

National Bank (NYSE:NBHC) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. National Bank had a return on equity of 11.20% and a net margin of 22.94%. The company had revenue of $149.43 million during the quarter, compared to analysts’ expectations of $101.98 million. During the same period last year, the firm posted $1.06 earnings per share. Sell-side analysts predict that National Bank will post 3.33 EPS for the current year.

Hedge Funds Weigh In On National Bank

Large investors have recently added to or reduced their stakes in the business. Jackson Hole Capital Partners LLC purchased a new stake in shares of National Bank during the 4th quarter valued at $17,537,000. Wellington Management Group LLP grew its stake in National Bank by 8.9% during the third quarter. Wellington Management Group LLP now owns 3,665,586 shares of the financial services provider’s stock valued at $109,088,000 after acquiring an additional 298,140 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of National Bank by 1,015.3% in the fourth quarter. Hsbc Holdings PLC now owns 235,268 shares of the financial services provider’s stock worth $8,754,000 after buying an additional 214,174 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of National Bank by 353.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 201,893 shares of the financial services provider’s stock valued at $6,008,000 after acquiring an additional 157,359 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its stake in National Bank by 13.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 852,359 shares of the financial services provider’s stock worth $25,366,000 after buying an additional 100,765 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

About National Bank

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.