Meeder Asset Management Inc. Acquires New Holdings in National Bank Holdings Co. (NYSE:NBHC)

Meeder Asset Management Inc. bought a new position in shares of National Bank Holdings Co. (NYSE:NBHC) in the second quarter, HoldingsChannel.com reports. The firm bought 1,327 shares of the financial services provider’s stock, valued at approximately $52,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Innealta Capital LLC bought a new position in shares of National Bank in the 2nd quarter worth $41,000. Quest Partners LLC purchased a new position in National Bank in the fourth quarter valued at about $194,000. Choreo LLC bought a new position in National Bank in the second quarter worth about $209,000. ProShare Advisors LLC lifted its position in shares of National Bank by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,450 shares of the financial services provider’s stock valued at $269,000 after buying an additional 513 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of National Bank by 24.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,879 shares of the financial services provider’s stock valued at $386,000 after buying an additional 1,955 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Insider Activity

In related news, CEO G. Timothy Laney sold 49,763 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $42.64, for a total transaction of $2,121,894.32. Following the completion of the transaction, the chief executive officer now owns 272,126 shares of the company’s stock, valued at $11,603,452.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO G. Timothy Laney sold 49,763 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $42.64, for a total transaction of $2,121,894.32. Following the sale, the chief executive officer now directly owns 272,126 shares of the company’s stock, valued at $11,603,452.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick G. Sobers sold 18,738 shares of National Bank stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $43.10, for a total value of $807,607.80. Following the transaction, the director now owns 20,788 shares of the company’s stock, valued at $895,962.80. The disclosure for this sale can be found here. Insiders have sold 103,192 shares of company stock valued at $4,431,998 in the last ninety days. Insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on NBHC shares. DA Davidson boosted their price objective on shares of National Bank from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. StockNews.com lowered National Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Piper Sandler cut National Bank from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $42.00 to $46.00 in a research report on Thursday, July 25th. Keefe, Bruyette & Woods upped their target price on National Bank from $39.00 to $45.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Hovde Group raised their price target on National Bank from $42.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.40.

National Bank Price Performance

NYSE NBHC opened at $41.17 on Friday. The stock’s fifty day moving average price is $41.81 and its 200 day moving average price is $37.66. National Bank Holdings Co. has a 1 year low of $28.38 and a 1 year high of $46.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 11.83 and a beta of 0.85.

National Bank (NYSE:NBHC) last announced its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). National Bank had a net margin of 21.40% and a return on equity of 10.44%. The firm had revenue of $99.31 million during the quarter, compared to analyst estimates of $102.96 million. During the same period in the prior year, the company posted $0.85 earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, equities research analysts forecast that National Bank Holdings Co. will post 3.03 earnings per share for the current year.

National Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Friday, August 30th. National Bank’s payout ratio is 32.18%.

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.