Principal Financial Group Inc. Has $8.56 Million Position in National Bank Holdings Corporation $NBHC

Principal Financial Group Inc. cut its stake in shares of National Bank Holdings Corporation (NYSE:NBHC) by 62.6% during the first quarter, HoldingsChannel.com reports. The firm owned 218,670 shares of the financial services provider’s stock after selling 366,382 shares during the period. Principal Financial Group Inc.’s holdings in National Bank were worth $8,563,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NBHC. Deprince Race & Zollo Inc. boosted its stake in shares of National Bank by 215.4% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,162,432 shares of the financial services provider’s stock valued at $44,184,000 after buying an additional 793,902 shares during the period. AQR Capital Management LLC increased its stake in shares of National Bank by 138.9% in the fourth quarter. AQR Capital Management LLC now owns 430,078 shares of the financial services provider’s stock worth $16,347,000 after acquiring an additional 250,088 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of National Bank by 143.3% in the fourth quarter. Russell Investments Group Ltd. now owns 405,164 shares of the financial services provider’s stock worth $15,400,000 after acquiring an additional 238,642 shares during the last quarter. Millennium Management LLC raised its holdings in shares of National Bank by 2,057.9% during the first quarter. Millennium Management LLC now owns 199,453 shares of the financial services provider’s stock worth $7,633,000 after acquiring an additional 190,210 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in shares of National Bank by 146.3% during the third quarter. Two Sigma Investments LP now owns 304,987 shares of the financial services provider’s stock worth $11,785,000 after acquiring an additional 181,137 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

National Bank Stock Up 0.2%

National Bank stock opened at $43.40 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20. National Bank Holdings Corporation has a 1-year low of $35.06 and a 1-year high of $47.28. The firm’s fifty day simple moving average is $43.38 and its 200-day simple moving average is $41.65. The company has a market capitalization of $1.94 billion, a P/E ratio of 18.24 and a beta of 0.78.

National Bank (NYSE:NBHC) last issued its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The business had revenue of $129.06 million during the quarter, compared to the consensus estimate of $135.08 million. National Bank had a return on equity of 8.35% and a net margin of 15.11%.The company’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. Sell-side analysts forecast that National Bank Holdings Corporation will post 3.41 earnings per share for the current fiscal year.

National Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. National Bank’s payout ratio is currently 53.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NBHC. Weiss Ratings upgraded National Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. DA Davidson reaffirmed a “buy” rating and set a $46.00 price target on shares of National Bank in a research note on Wednesday, April 22nd. Wall Street Zen raised National Bank from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Stephens reduced their price target on National Bank from $49.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Piper Sandler boosted their price target on National Bank from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, National Bank has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

About National Bank

National Bank Holdings Corporation (NYSE: NBHC) is a diversified financial services holding company headquartered in Cape Girardeau, Missouri. Through its network of community bank subsidiaries, the company provides deposit, lending and payment solutions to consumer, small business and commercial clients across multiple U.S. markets.

Since its founding in 1992, National Bank Holdings has pursued a growth strategy focused on acquiring and integrating locally branded community banks. Its footprint spans the Midwest and Southern United States, including Missouri, Kansas, Oklahoma, Texas, Colorado, Illinois and Tennessee.