Zacks Investment Research Upgrades National Bank (NYSE:NBHC) to Hold

Zacks Investment Research upgraded shares of National Bank (NYSE:NBHC) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “National Bank Holdings Corporation is a bank holding company operating full-service banking centers, with the majority of those banking centers located in Colorado and the greater Kansas City region. The Company, through its subsidiaries, provides services through community banking franchises serving the needs of retail and business customers. National Bank Holdings Corporation is based in Greenwood Village, Colorado. “

A number of other equities analysts have also recently commented on the stock. Piper Sandler lifted their price objective on shares of National Bank from $28.00 to $30.00 and gave the stock a neutral rating in a research note on Thursday, July 23rd. ValuEngine raised shares of National Bank from a sell rating to a hold rating in a research note on Thursday, July 2nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. National Bank presently has a consensus rating of Hold and an average target price of $35.67.

Shares of NYSE NBHC opened at $27.78 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market cap of $858.18 million, a P/E ratio of 11.56 and a beta of 1.16. The firm’s fifty day moving average is $26.43 and its two-hundred day moving average is $27.79. National Bank has a 52-week low of $20.25 and a 52-week high of $37.97.

National Bank (NYSE:NBHC) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.34. The company had revenue of $86.17 million for the quarter, compared to the consensus estimate of $67.16 million. National Bank had a net margin of 21.92% and a return on equity of 9.93%. As a group, analysts forecast that National Bank will post 2.15 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in NBHC. First Trust Advisors LP boosted its holdings in National Bank by 311.0% during the first quarter. First Trust Advisors LP now owns 58,125 shares of the financial services provider’s stock worth $1,933,000 after buying an additional 43,982 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in National Bank by 26.2% during the fourth quarter. Victory Capital Management Inc. now owns 4,859 shares of the financial services provider’s stock worth $171,000 after buying an additional 1,008 shares in the last quarter. UBS Group AG boosted its holdings in National Bank by 24.8% during the fourth quarter. UBS Group AG now owns 31,826 shares of the financial services provider’s stock worth $1,121,000 after buying an additional 6,324 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in National Bank during the fourth quarter worth $26,000. Finally, Bank of New York Mellon Corp boosted its holdings in National Bank by 2.9% during the fourth quarter. Bank of New York Mellon Corp now owns 996,458 shares of the financial services provider’s stock worth $35,095,000 after buying an additional 27,765 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

National Bank Company Profile

National Bank Holdings Corporation operates as the bank holding company for NBH Bank, N.A. that provides various banking products and financial services to commercial, business, and consumer clients in the United States. The company offers deposit products, including checking accounts, savings accounts, money market accounts, and other deposit accounts, including fixed-rate and fixed maturity time deposits.

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