PNC Financial Services Group Inc. Sells 1,704 Shares of National Bank Holdings Co. (NYSE:NBHC)

PNC Financial Services Group Inc. reduced its holdings in shares of National Bank Holdings Co. (NYSE:NBHC) by 24.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,171 shares of the financial services provider’s stock after selling 1,704 shares during the quarter. PNC Financial Services Group Inc.’s holdings in National Bank were worth $192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jackson Hole Capital Partners LLC bought a new stake in shares of National Bank during the 4th quarter worth $17,537,000. Wellington Management Group LLP boosted its stake in National Bank by 8.9% in the third quarter. Wellington Management Group LLP now owns 3,665,586 shares of the financial services provider’s stock valued at $109,088,000 after acquiring an additional 298,140 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of National Bank by 1,015.3% during the 4th quarter. Hsbc Holdings PLC now owns 235,268 shares of the financial services provider’s stock valued at $8,754,000 after acquiring an additional 214,174 shares during the period. Kennedy Capital Management LLC grew its position in shares of National Bank by 13.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 852,359 shares of the financial services provider’s stock valued at $25,366,000 after acquiring an additional 100,765 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of National Bank by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,678,537 shares of the financial services provider’s stock worth $62,426,000 after purchasing an additional 79,519 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

National Bank Price Performance

Shares of NYSE:NBHC opened at $39.37 on Wednesday. The company has a 50 day moving average of $36.17 and a 200 day moving average of $35.36. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.49 billion, a P/E ratio of 11.31 and a beta of 0.86. National Bank Holdings Co. has a 12 month low of $28.38 and a 12 month high of $39.75.

National Bank (NYSE:NBHC) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. National Bank had a net margin of 22.94% and a return on equity of 11.20%. The firm had revenue of $149.43 million during the quarter, compared to analyst estimates of $101.98 million. During the same period in the previous year, the business earned $1.06 EPS. As a group, sell-side analysts forecast that National Bank Holdings Co. will post 3.08 EPS for the current fiscal year.

National Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from National Bank’s previous quarterly dividend of $0.27. National Bank’s dividend payout ratio (DPR) is 32.18%.

Analysts Set New Price Targets

Several equities analysts have weighed in on NBHC shares. DA Davidson increased their price objective on National Bank from $42.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday. TheStreet downgraded shares of National Bank from a “b” rating to a “c+” rating in a report on Monday, March 18th. Hovde Group reduced their target price on shares of National Bank from $45.00 to $40.50 and set an “outperform” rating for the company in a research note on Monday, April 29th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $39.00 price target (down from $40.00) on shares of National Bank in a research note on Friday, April 26th. Finally, StockNews.com upgraded shares of National Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.90.

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.