DA Davidson Reiterates “Buy” Rating for National Bank (NYSE:NBHC)

National Bank (NYSE:NBHC)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a research note issued on Wednesday,Benzinga reports. They presently have a $46.00 price objective on the financial services provider’s stock. DA Davidson’s price target indicates a potential upside of 11.11% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Weiss Ratings raised National Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 30th. Piper Sandler assumed coverage on National Bank in a research report on Wednesday, March 25th. They issued an “overweight” rating and a $48.00 target price on the stock. Finally, Wall Street Zen cut National Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.40.

National Bank Stock Performance

NYSE:NBHC traded down $0.76 on Wednesday, hitting $41.40. The stock had a trading volume of 401,729 shares, compared to its average volume of 542,605. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 14.54 and a beta of 0.78. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $40.26 and its two-hundred day simple moving average is $39.13. National Bank has a 52-week low of $33.75 and a 52-week high of $43.09.

National Bank (NYSE:NBHC) last announced its earnings results on Tuesday, April 21st. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.07. The business had revenue of $126.78 million for the quarter, compared to analysts’ expectations of $129.30 million. National Bank had a return on equity of 8.65% and a net margin of 18.66%.The business’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. As a group, research analysts predict that National Bank will post 3.33 earnings per share for the current year.

Insider Buying and Selling at National Bank

In related news, insider John Steinmetz acquired 24,200 shares of the stock in a transaction dated Wednesday, February 11th. The shares were purchased at an average cost of $41.41 per share, with a total value of $1,002,122.00. Following the transaction, the insider directly owned 536,504 shares in the company, valued at approximately $22,216,630.64. This represents a 4.72% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NBHC. Royal Bank of Canada lifted its holdings in National Bank by 34.3% in the 1st quarter. Royal Bank of Canada now owns 23,683 shares of the financial services provider’s stock worth $906,000 after purchasing an additional 6,052 shares in the last quarter. AQR Capital Management LLC lifted its holdings in National Bank by 97.2% in the 1st quarter. AQR Capital Management LLC now owns 26,300 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 12,962 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in National Bank by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,066 shares of the financial services provider’s stock worth $844,000 after purchasing an additional 1,079 shares in the last quarter. Millennium Management LLC lifted its holdings in National Bank by 2,057.9% in the 1st quarter. Millennium Management LLC now owns 199,453 shares of the financial services provider’s stock worth $7,633,000 after purchasing an additional 190,210 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in National Bank by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,367 shares of the financial services provider’s stock worth $3,611,000 after purchasing an additional 9,626 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

About National Bank

National Bank Holdings Corporation (NYSE: NBHC) is a diversified financial services holding company headquartered in Cape Girardeau, Missouri. Through its network of community bank subsidiaries, the company provides deposit, lending and payment solutions to consumer, small business and commercial clients across multiple U.S. markets.

Since its founding in 1992, National Bank Holdings has pursued a growth strategy focused on acquiring and integrating locally branded community banks. Its footprint spans the Midwest and Southern United States, including Missouri, Kansas, Oklahoma, Texas, Colorado, Illinois and Tennessee.