North Reef Capital Management LP Takes Position in National Bank Holdings Corporation $NBHC

North Reef Capital Management LP purchased a new stake in shares of National Bank Holdings Corporation (NYSE:NBHC) in the first quarter, Holdings Channel reports. The firm purchased 320,352 shares of the financial services provider’s stock, valued at approximately $12,545,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of 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 acquiring an additional 6,052 shares in the last quarter. AQR Capital Management LLC grew its position 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. increased its stake 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 valued at $844,000 after buying an additional 1,079 shares during the last quarter. Millennium Management LLC lifted its position in shares of National Bank by 2,057.9% during the 1st quarter. Millennium Management LLC now owns 199,453 shares of the financial services provider’s stock worth $7,633,000 after buying an additional 190,210 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of National Bank by 11.4% during 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 buying an additional 9,626 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NBHC has been the subject of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $46.00 target price on shares of National Bank in a report on Wednesday, April 22nd. Stephens reduced their price objective on National Bank from $49.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday. Wall Street Zen raised National Bank from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded National Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Finally, Piper Sandler boosted their price target on shares of National Bank from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

National Bank Price Performance

National Bank stock opened at $43.40 on Friday. National Bank Holdings Corporation has a 12 month low of $35.06 and a 12 month high of $47.28. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.20. The business’s 50 day simple moving average is $43.38 and its 200 day simple moving average is $41.63. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 18.24 and a beta of 0.78.

National Bank (NYSE:NBHC) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.03). National Bank had a net margin of 15.11% and a return on equity of 8.35%. The firm had revenue of $129.06 million for the quarter, compared to the consensus estimate of $135.08 million. During the same period last year, the company posted $0.88 earnings per share. National Bank’s revenue for the quarter was up 23.4% on a year-over-year basis. Sell-side analysts forecast that National Bank Holdings Corporation will post 3.41 EPS for the current year.

National Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.28 annualized dividend and a yield of 2.9%. National Bank’s dividend payout ratio (DPR) is 53.78%.

National Bank Profile

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.