Russell Investments Group Ltd. lessened its stake in National Bank Holdings Corp (NYSE:NBHC) by 33.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 444,912 shares of the financial services provider’s stock after selling 221,101 shares during the quarter. Russell Investments Group Ltd. owned about 1.46% of National Bank worth $17,171,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of NBHC. Legal & General Group Plc increased its stake in National Bank by 3.6% during the first quarter. Legal & General Group Plc now owns 49,974 shares of the financial services provider’s stock worth $1,661,000 after acquiring an additional 1,715 shares during the last quarter. KBC Group NV increased its stake in National Bank by 102.4% during the first quarter. KBC Group NV now owns 46,559 shares of the financial services provider’s stock worth $1,548,000 after acquiring an additional 23,556 shares during the last quarter. Northern Trust Corp increased its stake in National Bank by 0.7% during the first quarter. Northern Trust Corp now owns 331,782 shares of the financial services provider’s stock worth $11,032,000 after acquiring an additional 2,289 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in National Bank by 37.7% during the second quarter. Deprince Race & Zollo Inc. now owns 408,172 shares of the financial services provider’s stock worth $15,751,000 after acquiring an additional 111,824 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in National Bank by 4.9% during the first quarter. Federated Investors Inc. PA now owns 156,878 shares of the financial services provider’s stock worth $5,216,000 after acquiring an additional 7,282 shares during the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the company. Hovde Group set a $40.00 target price on National Bank and gave the stock a “hold” rating in a research note on Monday, July 30th. Zacks Investment Research raised National Bank from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Saturday, July 28th. Piper Jaffray Companies raised their target price on National Bank from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. ValuEngine lowered National Bank from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. Finally, Stephens restated a “hold” rating and set a $36.00 price target on shares of National Bank in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. National Bank has an average rating of “Hold” and an average target price of $39.33.
In related news, insider Whitney A. Bartelli sold 2,433 shares of National Bank stock in a transaction on Friday, August 24th. The stock was sold at an average price of $40.66, for a total value of $98,925.78. Following the completion of the transaction, the insider now directly owns 3,562 shares in the company, valued at $144,830.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick G. Sobers sold 5,660 shares of National Bank stock in a transaction on Wednesday, June 6th. The shares were sold at an average price of $40.45, for a total value of $228,947.00. Following the completion of the transaction, the executive vice president now owns 11,379 shares of the company’s stock, valued at $460,280.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,390 shares of company stock valued at $4,158,825. Company insiders own 7.60% of the company’s stock.
NBHC opened at $40.30 on Thursday. National Bank Holdings Corp has a 52 week low of $30.25 and a 52 week high of $41.44. The firm has a market cap of $1.26 billion, a PE ratio of 24.61, a PEG ratio of 1.93 and a beta of 0.79. The company has a quick ratio of 0.84, a current ratio of 0.86 and a debt-to-equity ratio of 0.29.
National Bank (NYSE:NBHC) last released its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. National Bank had a return on equity of 8.27% and a net margin of 9.31%. The business had revenue of $68.95 million during the quarter, compared to analyst estimates of $67.12 million. During the same period last year, the business posted $0.33 earnings per share. equities research analysts predict that National Bank Holdings Corp will post 2.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.39%. National Bank’s dividend payout ratio is currently 44.44%.
National Bank Profile
National Bank Holdings Corporation operates as the bank holding company for NBH Bank, N.A. that provides various banking products and financial services to commercial, business, and consumer clients in the United States. The company offers deposit products, including checking accounts, savings accounts, money market accounts, and other deposit accounts, including fixed-rate and fixed maturity time deposits.
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