National Bank Holdings Co. (NYSE:NBHC – Get Free Report) saw unusually-high trading volume on Wednesday following a stronger than expected earnings report. Approximately 215,476 shares traded hands during mid-day trading, an increase of 35% from the previous session’s volume of 159,073 shares.The stock last traded at $37.03 and had previously closed at $35.59.
The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The company had revenue of $107.23 million during the quarter, compared to analysts’ expectations of $103.96 million. National Bank had a return on equity of 12.65% and a net margin of 23.86%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share.
National Bank Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 23rd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, February 22nd. National Bank’s payout ratio is currently 32.83%.
Analyst Upgrades and Downgrades
NBHC has been the topic of several research analyst reports. StockNews.com upgraded National Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 17th. Stephens lowered their price target on National Bank from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 26th.
Insider Buying and Selling at National Bank
In other National Bank news, EVP Christopher S. Randall sold 4,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $34.25, for a total value of $137,000.00. Following the completion of the transaction, the executive vice president now owns 13,319 shares in the company, valued at $456,175.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.10% of the company’s stock.
Institutional Trading of National Bank
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of National Bank by 2.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,684 shares of the financial services provider’s stock valued at $492,000 after purchasing an additional 266 shares during the last quarter. Rhumbline Advisers increased its position in National Bank by 0.3% in the third quarter. Rhumbline Advisers now owns 110,814 shares of the financial services provider’s stock worth $3,298,000 after buying an additional 331 shares in the last quarter. FMR LLC lifted its holdings in National Bank by 78.9% during the third quarter. FMR LLC now owns 850 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 375 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of National Bank by 24.4% in the first quarter. Tower Research Capital LLC TRC now owns 2,005 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 393 shares during the period. Finally, American International Group Inc. boosted its stake in shares of National Bank by 2.6% in the fourth quarter. American International Group Inc. now owns 16,482 shares of the financial services provider’s stock worth $693,000 after acquiring an additional 410 shares during the period. Hedge funds and other institutional investors own 89.61% of the company’s stock.
National Bank Stock Performance
The stock has a market cap of $1.40 billion, a P/E ratio of 10.81 and a beta of 0.85. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $35.43 and a two-hundred day moving average price of $33.02.
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.