Hovde Group Increases National Bank (NYSE:NBHC) Price Target to $50.00

National Bank (NYSE:NBHC) had its price objective raised by Hovde Group from $42.00 to $50.00 in a research report report published on Friday morning, MarketBeat Ratings reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other analysts also recently commented on the stock. StockNews.com downgraded shares of National Bank from a hold rating to a sell rating in a research report on Wednesday, July 24th. DA Davidson upped their price objective on shares of National Bank from $42.00 to $45.00 and gave the stock a buy rating in a research report on Tuesday, July 2nd. Stephens upped their price objective on shares of National Bank from $38.00 to $46.00 and gave the stock an equal weight rating in a research report on Thursday, July 25th. Keefe, Bruyette & Woods restated a market perform rating and set a $39.00 price objective (down previously from $40.00) on shares of National Bank in a research report on Friday, April 26th. Finally, Piper Sandler downgraded shares of National Bank from an overweight rating to a neutral rating and upped their price objective for the stock from $42.00 to $46.00 in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, National Bank currently has a consensus rating of Hold and an average target price of $46.40.

National Bank Stock Down 1.9 %

NBHC stock opened at $42.52 on Friday. The company has a fifty day moving average price of $38.88 and a 200 day moving average price of $36.04. National Bank has a 12 month low of $28.38 and a 12 month high of $46.51. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 12.22 and a beta of 0.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.93 and a quick ratio of 0.93.

National Bank (NYSE:NBHC) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.06). National Bank had a net margin of 21.40% and a return on equity of 10.44%. The business had revenue of $99.31 million during the quarter, compared to analysts’ expectations of $102.96 million. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts expect that National Bank will post 2.99 earnings per share for the current year.

National Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date 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 currently 32.18%.

Hedge Funds Weigh In On National Bank

A number of large investors have recently made changes to their positions in NBHC. True North Advisors LLC acquired a new stake in National Bank in the 4th quarter valued at about $519,000. Arizona State Retirement System grew its stake in National Bank by 22.8% in the 4th quarter. Arizona State Retirement System now owns 10,545 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 1,956 shares during the last quarter. Mutual of America Capital Management LLC acquired a new stake in National Bank in the 4th quarter valued at about $246,000. Louisiana State Employees Retirement System acquired a new stake in National Bank in the 4th quarter valued at about $703,000. Finally, Everence Capital Management Inc. acquired a new stake in National Bank in the 4th quarter valued at about $244,000. Hedge funds and other 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.