National Bank (NYSE:NBHC) Shares Gap Up After Earnings Beat

National Bank Holdings Co. (NYSE:NBHC)’s share price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $41.87, but opened at $43.97. National Bank shares last traded at $43.41, with a volume of 15,116 shares trading hands.

The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. National Bank had a net margin of 21.40% and a return on equity of 10.44%. The firm had revenue of $156.39 million for the quarter, compared to analysts’ expectations of $102.32 million. During the same quarter last year, the company earned $0.94 EPS.

National Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Friday, August 30th. National Bank’s payout ratio is 32.18%.

Analyst Ratings Changes

A number of brokerages recently issued reports on NBHC. Keefe, Bruyette & Woods upped their price objective on shares of National Bank from $39.00 to $45.00 and gave the company a “market perform” rating in a report on Monday, July 29th. StockNews.com lowered shares of National Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Hovde Group upped their price objective on shares of National Bank from $42.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Stephens upped their price objective on shares of National Bank from $38.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Piper Sandler lowered shares of National Bank from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $42.00 to $46.00 in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.40.

Insider Transactions at National Bank

In related news, Director Art Zeile sold 3,875 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $41.27, for a total transaction of $159,921.25. Following the sale, the director now directly owns 16,202 shares in the company, valued at approximately $668,656.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Art Zeile sold 3,875 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $41.27, for a total transaction of $159,921.25. Following the sale, the director now directly owns 16,202 shares in the company, valued at approximately $668,656.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher S. Randall sold 3,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $43.51, for a total transaction of $163,162.50. Following the sale, the executive vice president now owns 14,365 shares in the company, valued at $625,021.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,192 shares of company stock valued at $4,431,998. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On National Bank

Several hedge funds have recently added to or reduced their stakes in NBHC. Vanguard Group Inc. lifted its holdings in shares of National Bank by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 4,220,345 shares of the financial services provider’s stock worth $156,955,000 after purchasing an additional 25,349 shares during the period. Boston Partners increased its position in National Bank by 743.6% during the 1st quarter. Boston Partners now owns 200,094 shares of the financial services provider’s stock worth $7,211,000 after purchasing an additional 176,375 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in National Bank by 2.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 935,119 shares of the financial services provider’s stock valued at $33,730,000 after buying an additional 19,016 shares during the period. Dimensional Fund Advisors LP grew its holdings in National Bank by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,950,210 shares of the financial services provider’s stock valued at $76,152,000 after buying an additional 167,711 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in National Bank by 87.6% in the 1st quarter. Russell Investments Group Ltd. now owns 478,748 shares of the financial services provider’s stock valued at $17,268,000 after buying an additional 223,505 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

National Bank Stock Up 7.6 %

The company has a market cap of $1.70 billion, a PE ratio of 12.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a fifty day simple moving average of $42.04 and a 200 day simple moving average of $39.10.

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.