Everence Capital Management Inc. Sells 430 Shares of National Bank Holdings Co. (NYSE:NBHC)

Everence Capital Management Inc. cut its stake in shares of National Bank Holdings Co. (NYSE:NBHC) by 6.5% in the fourth quarter, HoldingsChannel reports. The fund owned 6,140 shares of the financial services provider’s stock after selling 430 shares during the period. Everence Capital Management Inc.’s holdings in National Bank were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NBHC. Meeder Asset Management Inc. purchased a new stake in shares of National Bank in the second quarter worth $52,000. Assetmark Inc. bought a new position in National Bank in the 3rd quarter worth $71,000. Atria Investments Inc purchased a new stake in National Bank in the 3rd quarter worth $202,000. Choreo LLC bought a new stake in National Bank during the second quarter valued at about $209,000. Finally, Intech Investment Management LLC bought a new stake in National Bank during the second quarter valued at about $319,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NBHC. Piper Sandler increased their target price on National Bank from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods upped their price target on National Bank from $47.00 to $52.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Hovde Group cut shares of National Bank from an “outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a research report on Monday, November 18th. DA Davidson upped their target price on shares of National Bank from $51.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Stephens lifted their price target on shares of National Bank from $46.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.40.

Insider Activity at National Bank

In related news, insider Valerie D. Kramer sold 897 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $50.11, for a total value of $44,948.67. Following the sale, the insider now directly owns 9,755 shares of the company’s stock, valued at $488,823.05. This represents a 8.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard U. Jr. Newfield sold 19,259 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $49.81, for a total value of $959,290.79. Following the transaction, the insider now owns 143,210 shares of the company’s stock, valued at $7,133,290.10. This trade represents a 11.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,431 shares of company stock worth $1,067,505. Company insiders own 3.30% of the company’s stock.

National Bank Price Performance

National Bank stock opened at $42.73 on Wednesday. National Bank Holdings Co. has a 52-week low of $32.13 and a 52-week high of $51.76. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 13.23 and a beta of 0.86. The firm’s fifty day moving average is $46.24 and its 200 day moving average is $43.17. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.04.

National Bank (NYSE:NBHC) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. National Bank had a net margin of 20.52% and a return on equity of 9.93%. The firm had revenue of $156.39 million during the quarter, compared to the consensus estimate of $102.32 million. During the same quarter last year, the firm earned $0.94 EPS. Sell-side analysts forecast that National Bank Holdings Co. will post 3.18 EPS for the current fiscal year.

National Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.16 annualized dividend and a dividend yield of 2.71%. This is an increase from National Bank’s previous quarterly dividend of $0.28. National Bank’s payout ratio is currently 35.91%.

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.