Hovde Group Trims National Bank (NYSE:NBHC) Target Price to $40.50

National Bank (NYSE:NBHC) had its price objective lowered by Hovde Group from $45.00 to $40.50 in a report published on Monday morning, Marketbeat.com reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on NBHC. StockNews.com lowered National Bank from a hold rating to a sell rating in a research report on Sunday. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $39.00 price target (down previously from $40.00) on shares of National Bank in a research note on Friday, April 26th. Piper Sandler increased their price objective on shares of National Bank from $40.00 to $41.00 and gave the company an overweight rating in a research report on Thursday, January 25th. Finally, TheStreet cut shares of National Bank from a b rating to a c+ rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $38.63.

National Bank Price Performance

Shares of NBHC opened at $33.43 on Monday. The company has a market cap of $1.26 billion, a P/E ratio of 9.61 and a beta of 0.84. National Bank has a fifty-two week low of $26.48 and a fifty-two week high of $38.71. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average price is $34.10 and its 200 day moving average price is $34.17.

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

Hedge Funds Weigh In On National Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBHC. BNP Paribas Financial Markets raised its holdings in National Bank by 45.9% during the first quarter. BNP Paribas Financial Markets now owns 18,398 shares of the financial services provider’s stock worth $664,000 after purchasing an additional 5,790 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in National Bank by 4.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 167,618 shares of the financial services provider’s stock worth $6,046,000 after acquiring an additional 6,950 shares in the last quarter. Range Financial Group LLC lifted its position in National Bank by 18.8% in the first quarter. Range Financial Group LLC now owns 34,133 shares of the financial services provider’s stock valued at $1,231,000 after acquiring an additional 5,400 shares during the last quarter. Vanguard Group Inc. boosted its stake in National Bank by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 4,220,345 shares of the financial services provider’s stock valued at $156,955,000 after acquiring an additional 25,349 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of National Bank by 6.5% during the fourth quarter. Wellington Management Group LLP now owns 3,904,987 shares of the financial services provider’s stock worth $145,226,000 after purchasing an additional 239,401 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

National Bank Company Profile

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.