Federated Hermes Inc. Reduces Stock Position in National Bank Holdings Co. (NYSE:NBHC)

Federated Hermes Inc. cut its stake in shares of National Bank Holdings Co. (NYSE:NBHC) by 57.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 866 shares of the financial services provider’s stock after selling 1,191 shares during the period. Federated Hermes Inc.’s holdings in National Bank were worth $32,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in National Bank by 15.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,924 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 1,067 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of National Bank during the 4th quarter valued at about $244,000. Louisiana State Employees Retirement System bought a new position in shares of National Bank in the 4th quarter worth approximately $703,000. Mutual of America Capital Management LLC purchased a new position in shares of National Bank in the fourth quarter worth approximately $246,000. Finally, Arizona State Retirement System grew its position in National Bank by 22.8% during the fourth quarter. Arizona State Retirement System now owns 10,545 shares of the financial services provider’s stock valued at $392,000 after buying an additional 1,956 shares during the period. 92.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of National Bank from a “hold” rating to a “sell” rating in a research note on Sunday, April 28th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $39.00 price target (down previously from $40.00) on shares of National Bank in a research report on Friday, April 26th. Piper Sandler lifted their price objective on National Bank from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, January 25th. Hovde Group reduced their target price on shares of National Bank from $45.00 to $40.50 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, TheStreet lowered shares of National Bank from a “b” rating to a “c+” rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.63.

National Bank Trading Down 0.3 %

NBHC stock opened at $34.77 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.91 and a quick ratio of 0.91. National Bank Holdings Co. has a 1-year low of $27.52 and a 1-year high of $38.71. The business has a 50 day simple moving average of $34.22 and a two-hundred day simple moving average of $34.33. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.99 and a beta of 0.84.

National Bank (NYSE:NBHC) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $149.43 million during the quarter, compared to analyst estimates of $101.98 million. National Bank had a net margin of 22.94% and a return on equity of 11.20%. During the same quarter in the prior year, the business earned $1.06 earnings per share. Research analysts anticipate that National Bank Holdings Co. will post 3.13 EPS for the current fiscal year.

National Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.28 dividend. This is an increase from National Bank’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, May 31st. National Bank’s payout ratio is currently 31.03%.

About National Bank

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.