National Bank (NYSE:NBHC) Shares Gap Down on Disappointing Earnings

National Bank Holdings Corporation (NYSE:NBHC) gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. 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 trading hands.

The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.03). The business had revenue of $129.06 million during the quarter, compared to the consensus estimate of $135.08 million. National Bank had a return on equity of 8.35% and a net margin of 15.11%.National Bank’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS.

National Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.32 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.28 annualized dividend and a yield of 3.0%. National Bank’s dividend payout ratio (DPR) is presently 47.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. 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. Wall Street Zen raised 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 target price on shares of National Bank in a research report on Wednesday, April 22nd. Stephens lowered their target price on National Bank from $49.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Weiss Ratings upgraded National Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, National Bank presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Institutional Trading of National Bank

A number of institutional investors and hedge funds have recently bought and sold shares of NBHC. Dimensional Fund Advisors LP boosted its holdings in shares of National Bank by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,100,944 shares of the financial services provider’s stock valued at $82,271,000 after purchasing an additional 40,669 shares during the last quarter. State Street Corp increased its holdings in shares of National Bank by 2.6% in the fourth quarter. State Street Corp now owns 1,888,885 shares of the financial services provider’s stock worth $71,797,000 after purchasing an additional 47,991 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of National Bank by 215.4% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,162,432 shares of the financial services provider’s stock worth $44,184,000 after buying an additional 793,902 shares in the last quarter. Leeward Investments LLC MA lifted its position in shares of National Bank by 20.9% in the fourth quarter. Leeward Investments LLC MA now owns 534,211 shares of the financial services provider’s stock worth $20,305,000 after buying an additional 92,489 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in National Bank by 39.0% during the fourth quarter. Kennedy Capital Management LLC now owns 505,333 shares of the financial services provider’s stock valued at $19,208,000 after buying an additional 141,726 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

National Bank Stock Performance

The company has a market capitalization of $1.93 billion, a P/E ratio of 18.09 and a beta of 0.78. The business has a 50 day moving average of $43.33 and a 200 day moving average of $41.62. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.20.

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.