National Bank (NYSE:NBHC) Cut to Sell at StockNews.com

National Bank (NYSE:NBHC) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Several other brokerages have also recently commented on NBHC. Piper Sandler boosted their price objective on shares of National Bank from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $39.00 price target (down previously from $40.00) on shares of National Bank in a report on Friday, April 26th. TheStreet lowered National Bank from a “b” rating to a “c+” rating in a research note on Monday, March 18th. Finally, Hovde Group decreased their target price on National Bank from $45.00 to $40.50 and set an “outperform” rating on the stock in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, National Bank presently has an average rating of “Hold” and an average price target of $38.63.

National Bank Stock Down 0.9 %

National Bank stock opened at $36.98 on Tuesday. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.63 and a beta of 0.84. The firm has a 50 day simple moving average of $34.59 and a 200 day simple moving average of $34.71. National Bank has a 1-year low of $28.38 and a 1-year high of $38.71. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.04.

National Bank (NYSE:NBHC) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. National Bank had a return on equity of 11.20% and a net margin of 22.94%. The company had revenue of $149.43 million for the quarter, compared to analyst estimates of $101.98 million. During the same period in the previous year, the company posted $1.06 EPS. On average, analysts predict that National Bank will post 3.13 earnings per share for the current year.

Institutional Trading of National Bank

A number of hedge funds have recently bought and sold shares of the company. Jackson Hole Capital Partners LLC bought a new position in National Bank in the fourth quarter worth about $17,537,000. Wellington Management Group LLP raised its position in shares of National Bank by 8.9% in the 3rd quarter. Wellington Management Group LLP now owns 3,665,586 shares of the financial services provider’s stock worth $109,088,000 after acquiring an additional 298,140 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of National Bank by 87.6% in the 1st quarter. Russell Investments Group Ltd. now owns 478,748 shares of the financial services provider’s stock valued at $17,268,000 after purchasing an additional 223,505 shares during the period. Hsbc Holdings PLC boosted its position in shares of National Bank by 1,015.3% during the fourth quarter. Hsbc Holdings PLC now owns 235,268 shares of the financial services provider’s stock valued at $8,754,000 after purchasing an additional 214,174 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in National Bank by 353.3% in the third quarter. Assenagon Asset Management S.A. now owns 201,893 shares of the financial services provider’s stock worth $6,008,000 after purchasing an additional 157,359 shares during the period. Institutional investors own 92.65% of the company’s stock.

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.