National Bank (NYSE:NBHC) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of National Bank (NYSE:NBHC) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

A number of other analysts also recently issued reports on the stock. Piper Sandler boosted their price objective on shares of National Bank from $40.00 to $41.00 and gave the company an overweight rating in a report on Thursday, January 25th. TheStreet downgraded shares of National Bank from a b rating to a c+ rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $38.33.

National Bank Stock Performance

Shares of NBHC stock opened at $35.91 on Wednesday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 9.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50-day simple moving average of $34.47 and a 200 day simple moving average of $33.48. National Bank has a 52 week low of $26.48 and a 52 week high of $38.71.

National Bank (NYSE:NBHC) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $107.23 million during the quarter, compared to the consensus estimate of $103.96 million. National Bank had a net margin of 25.40% and a return on equity of 12.20%. National Bank’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 EPS. On average, sell-side analysts predict that National Bank will post 3.33 earnings per share for the current year.

National Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Thursday, February 22nd. National Bank’s payout ratio is presently 29.03%.

Hedge Funds Weigh In On National Bank

Several hedge funds and other institutional investors have recently made changes to their positions in NBHC. JPMorgan Chase & Co. raised its position in shares of National Bank by 76.4% in the 1st quarter. JPMorgan Chase & Co. now owns 156,517 shares of the financial services provider’s stock valued at $6,305,000 after buying an additional 67,805 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of National Bank by 20.6% in the 1st quarter. Bank of New York Mellon Corp now owns 727,077 shares of the financial services provider’s stock valued at $29,286,000 after purchasing an additional 123,952 shares during the last quarter. Citigroup Inc. boosted its stake in shares of National Bank by 12.3% in the 1st quarter. Citigroup Inc. now owns 26,539 shares of the financial services provider’s stock valued at $1,069,000 after purchasing an additional 2,898 shares during the last quarter. Natixis Advisors L.P. boosted its stake in shares of National Bank by 5.2% in the 1st quarter. Natixis Advisors L.P. now owns 15,882 shares of the financial services provider’s stock valued at $640,000 after purchasing an additional 791 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of National Bank by 4.8% in the 1st quarter. Bank of Montreal Can now owns 20,429 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 943 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

National Bank Company Profile

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.