Amalgamated Bank Trims Stock Position in National Bank Holdings Co. (NYSE:NBHC)

Amalgamated Bank cut its holdings in shares of National Bank Holdings Co. (NYSE:NBHC) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,176 shares of the financial services provider’s stock after selling 308 shares during the period. Amalgamated Bank’s holdings in National Bank were worth $471,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Boston Partners lifted its stake in National Bank by 743.6% in the 1st quarter. Boston Partners now owns 200,094 shares of the financial services provider’s stock worth $7,211,000 after purchasing an additional 176,375 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of National Bank by 2.1% during the first quarter. Westwood Holdings Group Inc. now owns 935,119 shares of the financial services provider’s stock worth $33,730,000 after acquiring an additional 19,016 shares during the period. Dimensional Fund Advisors LP increased its position in shares of National Bank by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,950,210 shares of the financial services provider’s stock worth $76,152,000 after acquiring an additional 167,711 shares during the period. Natixis Advisors LLC increased its position in shares of National Bank by 99.2% during the second quarter. Natixis Advisors LLC now owns 29,816 shares of the financial services provider’s stock worth $1,164,000 after acquiring an additional 14,850 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in National Bank by 12,407.1% in the second quarter. Victory Capital Management Inc. now owns 1,824,912 shares of the financial services provider’s stock valued at $71,263,000 after buying an additional 1,810,321 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NBHC has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective on National Bank from $39.00 to $45.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Stephens increased their target price on shares of National Bank from $46.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. DA Davidson raised their price objective on shares of National Bank from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Piper Sandler raised their price objective on shares of National Bank from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded shares of National Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $49.20.

National Bank Price Performance

NBHC stock opened at $48.58 on Friday. The firm has a 50 day moving average of $43.59 and a 200-day moving average of $40.65. National Bank Holdings Co. has a 12-month low of $32.13 and a 12-month high of $51.76. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 15.04 and a beta of 0.84.

National Bank (NYSE:NBHC) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. National Bank had a net margin of 20.52% and a return on equity of 9.93%. The business had revenue of $156.39 million during the quarter, compared to analysts’ expectations of $102.32 million. During the same period last year, the company posted $0.94 EPS. As a group, equities analysts expect that National Bank Holdings Co. will post 3.18 EPS for the current fiscal year.

National Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, November 29th. This is a positive change from National Bank’s previous quarterly dividend of $0.28. National Bank’s dividend payout ratio is currently 35.91%.

Insider Transactions at National Bank

In other news, Director Art Zeile sold 3,875 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $41.27, for a total transaction of $159,921.25. Following the completion of the sale, the director now directly owns 16,202 shares of the company’s stock, valued at $668,656.54. The trade was a 19.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Richard U. Jr. Newfield sold 19,259 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.81, for a total value of $959,290.79. Following the completion of the transaction, the insider now directly owns 143,210 shares in the company, valued at $7,133,290.10. This trade represents a 11.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,397 shares of company stock worth $2,540,877 over the last quarter. 3.10% of the stock is currently owned by insiders.

National Bank 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.