Hovde Group Lowers National Bank (NYSE:NBHC) Price Target to $40.50

National Bank (NYSE:NBHC) had its price target trimmed by Hovde Group from $45.00 to $40.50 in a report released on Monday morning, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. 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 note on Thursday, January 25th. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $39.00 price target (down from $40.00) on shares of National Bank in a research report on Friday, April 26th. TheStreet lowered shares of National Bank from a b rating to a c+ rating in a research report on Monday, March 18th. Finally, StockNews.com lowered shares of National Bank from a hold rating to a sell rating in a report on Sunday. One equities 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, National Bank currently has an average rating of Hold and an average price target of $38.63.

National Bank Price Performance

National Bank stock opened at $33.43 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 9.61 and a beta of 0.84. National Bank has a 1 year low of $26.48 and a 1 year high of $38.71. The firm has a 50 day moving average price of $34.10 and a 200 day moving average price of $34.17.

National Bank (NYSE:NBHC) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The business had revenue of $149.43 million during the quarter, compared to the consensus estimate of $101.98 million. National Bank had a return on equity of 11.20% and a net margin of 22.94%. During the same period in the prior year, the firm posted $1.06 EPS. Sell-side analysts predict that National Bank will post 3.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NBHC. Rhumbline Advisers grew its holdings in National Bank by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 110,814 shares of the financial services provider’s stock valued at $3,298,000 after purchasing an additional 331 shares in the last quarter. Swiss National Bank increased its position in shares of National Bank by 1.2% during the third quarter. Swiss National Bank now owns 66,400 shares of the financial services provider’s stock worth $1,976,000 after acquiring an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of National Bank by 15.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,924 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 1,067 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in National Bank by 8.1% in the fourth quarter. Natixis Advisors L.P. now owns 14,693 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in National Bank by 18.2% during the 4th quarter. Teacher Retirement System of Texas now owns 10,938 shares of the financial services provider’s stock valued at $407,000 after purchasing an additional 1,687 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

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.