National Bank Holdings Corporation (NYSE:NBHC) Short Interest Up 47.9% in March
by Kim Johansen · The Markets DailyNational Bank Holdings Corporation (NYSE:NBHC – Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totaling 2,095,005 shares, a growth of 47.9% from the March 15th total of 1,416,125 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average daily volume of 873,268 shares, the short-interest ratio is presently 2.4 days.
Insiders Place Their Bets
In other National Bank news, insider John Steinmetz acquired 24,200 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was bought at an average cost of $41.41 per share, for a total transaction of $1,002,122.00. Following the completion of the transaction, the insider owned 536,504 shares of the company’s stock, valued at approximately $22,216,630.64. The trade was a 4.72% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.90% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Deprince Race & Zollo Inc. raised its stake in National Bank by 215.4% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,162,432 shares of the financial services provider’s stock valued at $44,184,000 after purchasing an additional 793,902 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of National Bank during the 3rd quarter valued at $25,869,000. AQR Capital Management LLC grew its holdings in shares of National Bank by 138.9% during the 4th quarter. AQR Capital Management LLC now owns 430,078 shares of the financial services provider’s stock valued at $16,347,000 after acquiring an additional 250,088 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of National Bank by 143.3% during the 4th quarter. Russell Investments Group Ltd. now owns 405,164 shares of the financial services provider’s stock valued at $15,400,000 after purchasing an additional 238,642 shares in the last quarter. Finally, Millennium Management LLC raised its holdings 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 valued at $7,633,000 after purchasing an additional 190,210 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.
National Bank Trading Down 0.1%
NYSE:NBHC traded down $0.04 on Tuesday, hitting $41.93. 240,908 shares of the stock were exchanged, compared to its average volume of 560,497. National Bank has a fifty-two week low of $33.75 and a fifty-two week high of $42.99. The stock has a fifty day moving average of $40.24 and a 200-day moving average of $39.02. The stock has a market cap of $1.89 billion, a PE ratio of 14.71 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.04.
National Bank (NYSE:NBHC – Get Free Report) last announced its earnings results on Tuesday, January 27th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.27). The business had revenue of $99.08 million for the quarter, compared to analysts’ expectations of $107.48 million. National Bank had a return on equity of 8.65% and a net margin of 18.66%.During the same period in the previous year, the firm posted $0.86 earnings per share. As a group, equities analysts expect that National Bank will post 3.31 earnings per share for the current fiscal year.
National Bank Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.32 dividend. The ex-dividend date was Friday, February 27th. This is an increase from National Bank’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 3.1%. National Bank’s dividend payout ratio (DPR) is 44.91%.
Analyst Ratings Changes
NBHC has been the topic of several analyst reports. Wall Street Zen cut National Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. DA Davidson reaffirmed a “buy” rating and set a $46.00 price objective on shares of National Bank in a report on Monday, April 6th. Zacks Research raised National Bank from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Piper Sandler assumed coverage on National Bank in a report on Wednesday, March 25th. They set an “overweight” rating and a $48.00 price target on the stock. Finally, Weiss Ratings raised National Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 30th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.40.
View Our Latest Report on National Bank
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.