New York State Teachers Retirement System lowered its stake in National Bank Holdings Co. (NYSE:NBHC) by 18.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,406 shares of the financial services provider’s stock after selling 2,100 shares during the period. New York State Teachers Retirement System’s holdings in National Bank were worth $373,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of NBHC. First Trust Advisors LP raised its holdings in shares of National Bank by 311.0% in the first quarter. First Trust Advisors LP now owns 58,125 shares of the financial services provider’s stock worth $1,933,000 after buying an additional 43,982 shares during the last quarter. Sei Investments Co. raised its holdings in shares of National Bank by 6.1% in the third quarter. Sei Investments Co. now owns 324,986 shares of the financial services provider’s stock worth $8,531,000 after buying an additional 18,711 shares during the last quarter. Handelsinvest Investeringsforvaltning raised its holdings in shares of National Bank by 50.0% in the fourth quarter. Handelsinvest Investeringsforvaltning now owns 240,000 shares of the financial services provider’s stock worth $7,862,000 after buying an additional 80,000 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of National Bank during the fourth quarter worth $343,000. Finally, Victory Capital Management Inc. purchased a new position in shares of National Bank during the fourth quarter worth $342,000. 97.73% of the stock is owned by institutional investors and hedge funds.
NBHC stock opened at $39.43 on Thursday. The firm has a market cap of $1.21 billion, a PE ratio of 15.22 and a beta of 1.05. The firm’s fifty day moving average is $40.07 and its 200 day moving average is $36.19. National Bank Holdings Co. has a one year low of $21.76 and a one year high of $43.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Friday, May 28th will be issued a $0.22 dividend. The ex-dividend date is Thursday, May 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.23%. This is a boost from National Bank’s previous quarterly dividend of $0.21. National Bank’s payout ratio is 32.94%.
In related news, Director Robert E. Dean sold 4,910 shares of National Bank stock in a transaction that occurred on Tuesday, April 27th. The shares were sold at an average price of $40.40, for a total value of $198,364.00. Following the completion of the transaction, the director now owns 30,017 shares in the company, valued at $1,212,686.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.
Separately, Zacks Investment Research raised shares of National Bank from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Friday, April 2nd.
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.
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