National Bank (NYSE:NBHC) Shares Gap Down After Earnings Miss

National Bank Holdings Corporation (NYSE:NBHC) shares gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $45.67, but opened at $43.58. National Bank shares last traded at $43.56, with a volume of 91,543 shares traded.

The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). National Bank had a net margin of 17.14% and a return on equity of 8.72%. The firm had revenue of $129.06 million for the quarter, compared to the consensus estimate of $135.08 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share.

National Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. National Bank’s dividend payout ratio (DPR) is presently 47.76%.

Analyst Upgrades and Downgrades

NBHC has been the subject of a number of research reports. Wall Street Zen raised shares of National Bank from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. DA Davidson reiterated a “buy” rating and set a $46.00 price target on shares of National Bank in a research note on Wednesday, April 22nd. Piper Sandler boosted their price objective on shares of National Bank from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded National Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.20.

Institutional Investors Weigh In On National Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBHC. Meeder Asset Management Inc. bought a new stake in National Bank during the 4th quarter worth approximately $48,000. Global Retirement Partners LLC bought a new position in shares of National Bank in the fourth quarter worth approximately $66,000. Quarry LP boosted its position in shares of National Bank by 50.8% in the third quarter. Quarry LP now owns 1,819 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 613 shares during the period. State of Wyoming purchased a new stake in shares of National Bank in the fourth quarter worth $69,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of National Bank by 17.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,283 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 499 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

National Bank Stock Down 4.6%

The stock has a market capitalization of $1.95 billion, a P/E ratio of 16.25 and a beta of 0.78. The company’s 50-day moving average price is $43.23 and its 200 day moving average price is $41.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.95 and a current ratio of 0.95.

National Bank Company Profile

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.