Wellington Management Group LLP Reduces Stock Position in National Bank Holdings Corporation $NBHC

Wellington Management Group LLP lessened its stake in National Bank Holdings Corporation (NYSE:NBHC) by 42.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,300,690 shares of the financial services provider’s stock after selling 943,298 shares during the period. Wellington Management Group LLP owned approximately 2.92% of National Bank worth $57,790,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NBHC. Meeder Asset Management Inc. purchased a new position in shares of National Bank in the 4th quarter worth $48,000. Global Retirement Partners LLC purchased a new stake in National Bank during the fourth quarter valued at $66,000. State of Wyoming bought a new position in National Bank in the fourth quarter valued at about $69,000. Quarry LP lifted its holdings in National Bank by 50.8% in the third quarter. Quarry LP now owns 1,819 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 613 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in National Bank by 131.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,395 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,927 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

National Bank Stock Performance

NYSE:NBHC opened at $41.89 on Friday. The stock has a 50-day moving average price of $43.34 and a 200 day moving average price of $41.99. The stock has a market capitalization of $1.87 billion, a P/E ratio of 17.60 and a beta of 0.77. 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 0.96 and a debt-to-equity ratio of 0.20.

National Bank (NYSE:NBHC) last posted its quarterly earnings results 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). The business had revenue of $129.94 million during the quarter, compared to the consensus estimate of $135.08 million. National Bank had a return on equity of 8.35% and a net margin of 15.11%.The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 earnings per share. Equities research analysts forecast that National Bank Holdings Corporation will post 3.35 EPS for the current fiscal year.

National Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 28th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, August 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.1%. National Bank’s dividend payout ratio (DPR) is presently 53.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded National Bank from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of National Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Piper Sandler cut their target price on shares of National Bank from $52.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, July 27th. Finally, Stephens downgraded shares of National Bank from an “overweight” rating to an “equal weight” rating and set a $46.00 price target on the stock. in a research report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.80.

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.