National Bank (NYSE:NBHC – Get Rating) announced its financial results on Friday. The financial services provider reported earnings per share (EPS) of $0.80 for the quarter, beating analyst consensus estimates of $0.72 by $0.08, Briefing.com reports. National Bank posted a net margin of 27.17% and a return on equity of 9.94%. In the same quarter last year, the company achieved EPS of $0.64.
Performance of National Bank shares
NBHC traded $1.51 during Friday’s trading, hitting $41.95. 30,668 shares of the company were traded, against an average volume of 147,884. The stock has a market capitalization of $1.26 billion, a P/E ratio of 15.24 and a beta of 0.87. The company has a 50-day moving average of $39.31 and a 200-day moving average of $39.48. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt ratio of 0.05. National Bank has a 52-week low of $36.04 and a 52-week high of $48.24.
National Bank announces dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15. Shareholders of record on Friday August 26 received a dividend of $0.23. The ex-dividend date was Thursday, August 25. This represents a dividend of $0.92 on an annualized basis and a dividend yield of 2.19%. National Bank’s dividend payout ratio (DPR) is 34.72%.
Insider buying and selling
In other National Bank news, CEO G. Timothy Laney sold 12,500 shares of the company in a trade on Tuesday, October 25. The stock was sold at an average price of $40.65, for a total transaction of $508,125.00. Following completion of the transaction, the CEO now owns 252,523 shares of the company, valued at approximately $10,265,059.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the shares are held by insiders of the company.
Institutional investors weigh on National Bank
Several hedge funds have recently changed their holdings in NBHC. Goldman Sachs Group Inc. increased its position in National Bank by 28.8% during the second quarter. Goldman Sachs Group Inc. now owns 185,440 shares of the financial services provider valued at $7,097,000 after purchasing an additional 41,430 shares during the period. Jane Street Group LLC acquired a new position in National Bank during the second quarter worth $300,000. Thrivent Financial for Lutherans increased its position in National Bank by 21.0% during the second quarter. Thrivent Financial for Lutherans now owns 29,522 shares of the financial services provider valued at $1,130,000 after purchasing an additional 5,133 shares during the period. Price T Rowe Associates Inc. MD increased its position in National Bank by 2.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,886,257 shares of the financial services provider valued at $110,457,000 after purchasing an additional 75,293 shares during the period. Lastly, Natixis Advisors LP increased its position in National Bank by 5.2% in the second quarter. Natixis Advisors LP now owns 16,708 shares of the financial services provider worth $639,000 after buying 826 additional shares in the last quarter. 99.22% of the shares are held by hedge funds and other institutional investors.
Analyst upgrades and downgrades
Several equity research analysts have recently weighed in on NBHC shares. Stephens cut his price target on National Bank to $45.00 in a Monday, July 25 report. Piper Sandler raised her price target on National Bank to $45.00 in a Friday July 22 report. StockNews.com began covering National Bank in a report on Wednesday, October 12. They issued a “hold” rating for the company. Finally, DA Davidson raised its target price on National Bank to $51.00 in a Friday July 22 report.
National Bank Corporate Profile
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National Bank Holdings Corporation operates as a bank holding company for NBH Bank which provides various banking products and financial services to commercial, business and consumer customers in the United States. It offers deposit products, including checking, savings, money market and other deposit accounts, including fixed rate and fixed term deposits.
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