Public Employees Retirement System of Ohio Raises Stock Holdings in National Bank Holdings Co. (NYSE:NBHC)

Public Employees Retirement System of Ohio raised its stake in shares of National Bank Holdings Co. (NYSE:NBHC) by 22.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,898 shares of the financial services provider’s stock after acquiring an additional 11,070 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.16% of National Bank worth $2,522,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Innealta Capital LLC purchased a new position in shares of National Bank during the second quarter worth $41,000. Meeder Asset Management Inc. purchased a new stake in National Bank during the second quarter worth about $52,000. Assetmark Inc. acquired a new stake in shares of National Bank during the third quarter worth about $71,000. Atria Investments Inc purchased a new position in shares of National Bank in the third quarter valued at approximately $202,000. Finally, Choreo LLC acquired a new position in shares of National Bank in the second quarter valued at approximately $209,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on NBHC. Piper Sandler raised their price target on shares of National Bank from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. DA Davidson boosted their target price on National Bank from $51.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Stephens increased their price target on National Bank from $46.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Hovde Group lowered shares of National Bank from an “outperform” rating to a “market perform” rating and set a $55.00 target price on the stock. in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of National Bank from $47.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.40.

Insiders Place Their Bets

In other news, insider Valerie D. Kramer sold 897 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $50.11, for a total value of $44,948.67. Following the transaction, the insider now owns 9,755 shares of the company’s stock, valued at approximately $488,823.05. The trade was a 8.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Richard U. Jr. Newfield sold 19,259 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $49.81, for a total value of $959,290.79. Following the sale, the insider now directly owns 143,210 shares of the company’s stock, valued at approximately $7,133,290.10. This represents a 11.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,431 shares of company stock valued at $1,067,505. Insiders own 3.10% of the company’s stock.

National Bank Trading Down 2.2 %

Shares of National Bank stock opened at $45.56 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $46.19 and a 200-day simple moving average of $42.47. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 14.11 and a beta of 0.84. National Bank Holdings Co. has a 12-month low of $32.13 and a 12-month high of $51.76.

National Bank (NYSE:NBHC) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.10. The business had revenue of $156.39 million during the quarter, compared to the consensus estimate of $102.32 million. National Bank had a return on equity of 9.93% and a net margin of 20.52%. During the same period in the previous year, the business earned $0.94 EPS. On average, equities analysts forecast that National Bank Holdings Co. will post 3.18 EPS for the current fiscal year.

National Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, November 29th. This represents a $1.16 dividend on an annualized basis and a yield of 2.55%. This is a boost from National Bank’s previous quarterly dividend of $0.28. National Bank’s dividend payout ratio is currently 35.91%.

National Bank 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.