National Bank (NYSE:NBHC) Shares Gap Up After Earnings Beat

National Bank Holdings Co. (NYSE:NBHC) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $41.87, but opened at $43.97. National Bank shares last traded at $43.41, with a volume of 15,116 shares.

The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. The firm had revenue of $156.39 million for the quarter, compared to analyst estimates of $102.32 million. National Bank had a return on equity of 10.44% and a net margin of 21.40%. During the same period in the previous year, the company posted $0.94 EPS.

National Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.49%. The ex-dividend date was Friday, August 30th. National Bank’s dividend payout ratio (DPR) is presently 32.18%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NBHC. Stephens upped their target price on National Bank from $38.00 to $46.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Hovde Group upped their target price on National Bank from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods upped their target price on National Bank from $39.00 to $45.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. StockNews.com lowered National Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Finally, Piper Sandler lowered National Bank from an “overweight” rating to a “neutral” rating and upped their target price for the company from $42.00 to $46.00 in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $46.40.

Insider Activity

In related news, Director Art Zeile sold 3,875 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $41.27, for a total transaction of $159,921.25. Following the completion of the transaction, the director now directly owns 16,202 shares in the company, valued at $668,656.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO G. Timothy Laney sold 49,763 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $42.64, for a total value of $2,121,894.32. Following the completion of the transaction, the chief executive officer now owns 272,126 shares of the company’s stock, valued at approximately $11,603,452.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Art Zeile sold 3,875 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $41.27, for a total value of $159,921.25. Following the completion of the transaction, the director now directly owns 16,202 shares of the company’s stock, valued at approximately $668,656.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 103,192 shares of company stock worth $4,431,998. 3.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System lifted its holdings in shares of National Bank by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the financial services provider’s stock valued at $742,000 after buying an additional 300 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of National Bank by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 33,069 shares of the financial services provider’s stock valued at $1,193,000 after buying an additional 449 shares during the period. Rhumbline Advisers lifted its holdings in shares of National Bank by 0.4% during the second quarter. Rhumbline Advisers now owns 126,304 shares of the financial services provider’s stock valued at $4,932,000 after purchasing an additional 492 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of National Bank by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,450 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 513 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of National Bank during the second quarter valued at $41,000. Institutional investors own 92.65% of the company’s stock.

National Bank Stock Performance

The firm has a market capitalization of $1.70 billion, a PE ratio of 12.95 and a beta of 0.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a fifty day moving average price of $42.04 and a 200 day moving average price of $39.10.

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.