National Bank (NYSE:NBHC) Coverage Initiated at Piper Sandler

Equities researchers at Piper Sandler initiated coverage on shares of National Bank (NYSE:NBHC) in a research note issued on Wednesday, MarketBeat.com reports. The firm set an “overweight” rating and a $48.00 price target on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 24.70% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Wall Street Zen lowered shares of National Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Zacks Research raised shares of National Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. DA Davidson restated a “buy” rating and issued a $48.00 price objective on shares of National Bank in a report on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Bank in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, National Bank presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

National Bank Trading Down 0.7%

Shares of NBHC opened at $38.49 on Wednesday. The stock’s fifty day simple moving average is $40.33 and its 200-day simple moving average is $38.91. The firm has a market capitalization of $1.73 billion, a PE ratio of 13.51 and a beta of 0.79. National Bank has a 12-month low of $32.83 and a 12-month high of $42.99. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.04.

National Bank (NYSE:NBHC) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.27). The firm had revenue of $99.08 million during the quarter, compared to analyst estimates of $107.48 million. National Bank had a return on equity of 8.65% and a net margin of 18.66%.During the same quarter in the previous year, the business earned $0.86 earnings per share. As a group, research analysts predict that National Bank will post 3.31 earnings per share for the current year.

Insider Activity at National Bank

In other news, insider John Steinmetz purchased 24,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were acquired at an average cost of $41.41 per share, for a total transaction of $1,002,122.00. Following the transaction, the insider directly owned 536,504 shares of the company’s stock, valued at approximately $22,216,630.64. The trade was a 4.72% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd increased its stake in National Bank by 650.9% in the third quarter. Aster Capital Management DIFC Ltd now owns 796 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 690 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of National Bank during the fourth quarter worth $48,000. Global Retirement Partners LLC acquired a new position in shares of National Bank in the 4th quarter valued at $66,000. Quarry LP grew its holdings in shares of National Bank by 50.8% in the 3rd quarter. Quarry LP now owns 1,819 shares of the financial services provider’s stock valued at $70,000 after buying an additional 613 shares during the period. Finally, State of Wyoming bought a new stake in shares of National Bank in the 4th quarter valued at $69,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

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.