National Bank (NBHC) Downgraded to “Hold” at Zacks Investment Research

National Bank (NYSE:NBHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, March 16th.

According to Zacks, “National Bank Holdings Corporation is a bank holding company operating full-service banking centers, with the majority of those banking centers located in Colorado and the greater Kansas City region. The Company, through its subsidiaries, provides services through community banking franchises serving the needs of retail and business customers. National Bank Holdings Corporation is based in Greenwood Village, Colorado. “

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Several other brokerages also recently weighed in on NBHC. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $37.00 target price on shares of National Bank in a research note on Friday, December 22nd. Hovde Group set a $35.00 target price on shares of National Bank and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.14.

NYSE NBHC traded down $0.61 during trading hours on Friday, hitting $33.02. The company had a trading volume of 162,143 shares, compared to its average volume of 241,877. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.83 and a quick ratio of 0.83. National Bank has a 1-year low of $30.10 and a 1-year high of $37.08. The company has a market capitalization of $1,000.90, a PE ratio of 26.21, a P/E/G ratio of 1.76 and a beta of 0.69.

National Bank (NYSE:NBHC) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. National Bank had a net margin of 7.16% and a return on equity of 6.39%. The company had revenue of $45.80 million during the quarter, compared to the consensus estimate of $47.87 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. research analysts expect that National Bank will post 1.88 earnings per share for the current year.

In related news, Director Burney S. Warren III sold 3,841 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $34.00, for a total transaction of $130,594.00. Following the completion of the transaction, the director now directly owns 20,542 shares of the company’s stock, valued at $698,428. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard U. Jr. Newfield sold 25,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $33.20, for a total transaction of $830,000.00. Following the transaction, the insider now directly owns 127,507 shares of the company’s stock, valued at $4,233,232.40. The disclosure for this sale can be found here. Insiders have sold 257,968 shares of company stock valued at $8,664,085 in the last quarter. Insiders own 7.60% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC purchased a new position in National Bank in the third quarter valued at about $208,000. LS Investment Advisors LLC increased its holdings in National Bank by 57.1% in the fourth quarter. LS Investment Advisors LLC now owns 6,736 shares of the financial services provider’s stock valued at $218,000 after buying an additional 2,448 shares in the last quarter. SG Americas Securities LLC purchased a new position in National Bank in the third quarter valued at about $284,000. Teacher Retirement System of Texas purchased a new position in National Bank in the fourth quarter valued at about $298,000. Finally, Crossmark Global Holdings Inc. purchased a new position in National Bank in the third quarter valued at about $326,000. 85.05% of the stock is owned by institutional investors.

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National Bank Company Profile

National Bank Holdings Corporation operates as the bank holding company for NBH Bank, N.A. that provides various banking products and financial services to commercial, business, and consumer clients in the United States. The company offers deposit products, including checking accounts, savings accounts, money market accounts, and other deposit accounts, including fixed-rate and fixed maturity time deposits.

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