Louisiana State Employees Retirement System Cuts Stock Position in National Bank Holdings Co. (NYSE:NBHC)

Louisiana State Employees Retirement System trimmed its position in shares of National Bank Holdings Co. (NYSE:NBHC) by 3.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,300 shares of the financial services provider’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in National Bank were worth $770,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NBHC. Innealta Capital LLC purchased a new stake in National Bank during the 2nd quarter valued at about $41,000. Meeder Asset Management Inc. purchased a new stake in shares of National Bank during the second quarter valued at approximately $52,000. Choreo LLC bought a new position in shares of National Bank in the second quarter worth approximately $209,000. ProShare Advisors LLC increased its stake in shares of National Bank by 7.4% in the first quarter. ProShare Advisors LLC now owns 7,450 shares of the financial services provider’s stock worth $269,000 after buying an additional 513 shares during the period. Finally, Intech Investment Management LLC bought a new stake in National Bank during the 2nd quarter valued at $319,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

National Bank Price Performance

Shares of NBHC stock opened at $44.19 on Tuesday. The business’s fifty day moving average is $42.54 and its 200 day moving average is $39.80. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.04. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 13.68 and a beta of 0.84. National Bank Holdings Co. has a twelve month low of $31.24 and a twelve month high of $46.82.

National Bank (NYSE:NBHC) last released its earnings results on Tuesday, October 22nd. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. National Bank had a net margin of 20.52% and a return on equity of 9.93%. The firm had revenue of $156.39 million for the quarter, compared to the consensus estimate of $102.32 million. During the same period in the prior year, the firm earned $0.94 EPS. Research analysts expect that National Bank Holdings Co. will post 3.13 EPS for the current fiscal year.

National Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.29 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.16 annualized dividend and a dividend yield of 2.63%. This is an increase from National Bank’s previous quarterly dividend of $0.28. National Bank’s dividend payout ratio is presently 35.91%.

Insider Activity at National Bank

In related news, insider Valerie D. Kramer sold 725 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $40.17, for a total transaction of $29,123.25. Following the sale, the insider now directly owns 10,398 shares of the company’s stock, valued at approximately $417,687.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Christopher S. Randall sold 3,750 shares of National Bank stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $43.51, for a total value of $163,162.50. Following the completion of the sale, the executive vice president now directly owns 14,365 shares in the company, valued at approximately $625,021.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Valerie D. Kramer sold 725 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $40.17, for a total transaction of $29,123.25. Following the transaction, the insider now owns 10,398 shares in the company, valued at $417,687.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,691 shares of company stock valued at $1,502,496 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

NBHC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of National Bank from $39.00 to $45.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Hovde Group upped their price target on National Bank from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. DA Davidson lifted their price objective on National Bank from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com downgraded National Bank from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Finally, Piper Sandler lifted their price target on shares of National Bank from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.20.

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.