National Bank (NYSE:NBHC) Reaches New 1-Year High – What’s Next?

National Bank Holdings Corporation (NYSE:NBHC) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $44.34 and last traded at $44.5260, with a volume of 27607 shares traded. The stock had previously closed at $44.01.

Wall Street Analysts Forecast Growth

NBHC has been the subject of several recent analyst reports. Piper Sandler increased their price objective on shares of National Bank from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings upgraded National Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. DA Davidson reissued a “buy” rating and issued a $46.00 price objective on shares of National Bank in a research note on Wednesday, April 22nd. Finally, Wall Street Zen raised National Bank from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.20.

National Bank Price Performance

The firm has a market capitalization of $2.00 billion, a P/E ratio of 16.66 and a beta of 0.78. The business has a 50-day moving average of $42.32 and a 200 day moving average of $40.83. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.12.

National Bank (NYSE:NBHC) last announced its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. The business had revenue of $126.78 million for the quarter, compared to analyst estimates of $129.30 million. National Bank had a return on equity of 8.72% and a net margin of 17.14%.The company’s quarterly revenue was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, sell-side analysts predict that National Bank Holdings Corporation will post 3.51 earnings per share for the current fiscal year.

National Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, May 29th. National Bank’s payout ratio is 47.76%.

Institutional Investors Weigh In On National Bank

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Deprince Race & Zollo Inc. lifted its position in National Bank by 215.4% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,162,432 shares of the financial services provider’s stock valued at $44,184,000 after acquiring an additional 793,902 shares in the last quarter. North Reef Capital Management LP bought a new position in shares of National Bank in the first quarter valued at approximately $12,545,000. AQR Capital Management LLC boosted its position in shares of National Bank by 138.9% during the fourth quarter. AQR Capital Management LLC now owns 430,078 shares of the financial services provider’s stock valued at $16,347,000 after buying an additional 250,088 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in National Bank by 143.3% during the fourth quarter. Russell Investments Group Ltd. now owns 405,164 shares of the financial services provider’s stock worth $15,400,000 after buying an additional 238,642 shares in the last quarter. Finally, Millennium Management LLC raised its position in National Bank by 2,057.9% in the 1st quarter. Millennium Management LLC now owns 199,453 shares of the financial services provider’s stock valued at $7,633,000 after buying an additional 190,210 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

About National Bank

National Bank Holdings Corporation (NYSE: NBHC) is a diversified financial services holding company headquartered in Cape Girardeau, Missouri. Through its network of community bank subsidiaries, the company provides deposit, lending and payment solutions to consumer, small business and commercial clients across multiple U.S. markets.

Since its founding in 1992, National Bank Holdings has pursued a growth strategy focused on acquiring and integrating locally branded community banks. Its footprint spans the Midwest and Southern United States, including Missouri, Kansas, Oklahoma, Texas, Colorado, Illinois and Tennessee.