State Street Corp Boosts Position in National Bank Holdings Co. (NYSE:NBHC)

State Street Corp lifted its position in National Bank Holdings Co. (NYSE:NBHC) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,799,224 shares of the financial services provider’s stock after purchasing an additional 126,796 shares during the quarter. State Street Corp’s holdings in National Bank were worth $75,747,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of National Bank by 56.0% in the 3rd quarter. Victory Capital Management Inc. now owns 2,846,741 shares of the financial services provider’s stock valued at $119,848,000 after buying an additional 1,021,829 shares during the period. Dimensional Fund Advisors LP lifted its holdings in National Bank by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,950,210 shares of the financial services provider’s stock valued at $76,152,000 after acquiring an additional 167,711 shares during the last quarter. Principal Financial Group Inc. grew its position in National Bank by 36.1% in the third quarter. Principal Financial Group Inc. now owns 786,096 shares of the financial services provider’s stock worth $33,095,000 after acquiring an additional 208,303 shares during the period. American Century Companies Inc. increased its stake in National Bank by 154.8% during the second quarter. American Century Companies Inc. now owns 377,929 shares of the financial services provider’s stock worth $14,758,000 after acquiring an additional 229,630 shares during the last quarter. Finally, Leeward Investments LLC MA raised its position in National Bank by 64.2% in the third quarter. Leeward Investments LLC MA now owns 374,638 shares of the financial services provider’s stock valued at $15,772,000 after purchasing an additional 146,494 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Richard U. Jr. Newfield sold 19,259 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $49.81, for a total value of $959,290.79. Following the sale, the insider now directly owns 143,210 shares in the company, valued at approximately $7,133,290.10. This trade represents a 11.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Valerie D. Kramer sold 897 shares of National Bank stock in a transaction on Monday, November 11th. The stock was sold at an average price of $50.11, for a total transaction of $44,948.67. Following the sale, the insider now directly owns 9,755 shares of the company’s stock, valued at approximately $488,823.05. This trade represents a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,431 shares of company stock valued at $1,067,505 in the last three months. 3.10% of the stock is owned by corporate insiders.

National Bank Stock Down 2.2 %

Shares of NBHC opened at $45.56 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $1.73 billion, a PE ratio of 14.27 and a beta of 0.84. The company’s 50-day simple moving average is $46.19 and its 200-day simple moving average is $42.47. National Bank Holdings Co. has a 1 year low of $32.13 and a 1 year high of $51.76.

National Bank (NYSE:NBHC) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. The company had revenue of $156.39 million for the quarter, compared to analyst estimates of $102.32 million. National Bank had a net margin of 20.52% and a return on equity of 9.93%. During the same period in the prior year, the business earned $0.94 EPS. Analysts forecast that National Bank Holdings Co. will post 3.18 earnings per share for the current fiscal year.

National Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.29 dividend. The ex-dividend date was Friday, November 29th. This is a positive change from National Bank’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 2.55%. National Bank’s dividend payout ratio (DPR) is 35.91%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NBHC. Piper Sandler increased their price target on National Bank from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. DA Davidson upped their target price on shares of National Bank from $51.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price target on shares of National Bank from $47.00 to $52.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Hovde Group lowered shares of National Bank from an “outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a report on Monday, November 18th. Finally, Stephens lifted their target price on shares of National Bank from $46.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.40.

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.