Prudential Financial Inc. lowered its stake in shares of National Bank Holdings Corp (NYSE:NBHC) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,755 shares of the financial services provider’s stock after selling 1,350 shares during the quarter. Prudential Financial Inc.’s holdings in National Bank were worth $1,552,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in NBHC. Handelsbanken Fonder AB bought a new position in National Bank during the first quarter worth $8,761,000. Skyline Asset Management LP bought a new position in National Bank during the second quarter worth $8,251,000. Kennedy Capital Management Inc. increased its position in National Bank by 885.3% during the first quarter. Kennedy Capital Management Inc. now owns 198,672 shares of the financial services provider’s stock worth $6,608,000 after acquiring an additional 178,509 shares during the period. Hillcrest Asset Management LLC increased its position in National Bank by 36.0% during the first quarter. Hillcrest Asset Management LLC now owns 292,656 shares of the financial services provider’s stock worth $9,734,000 after acquiring an additional 77,476 shares during the period. Finally, Acadian Asset Management LLC increased its position in National Bank by 857.8% during the second quarter. Acadian Asset Management LLC now owns 67,954 shares of the financial services provider’s stock worth $2,467,000 after acquiring an additional 60,859 shares during the period. 94.24% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on NBHC shares. Zacks Investment Research downgraded shares of National Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. ValuEngine downgraded shares of National Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th.
National Bank (NYSE:NBHC) last posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. National Bank had a net margin of 24.37% and a return on equity of 10.60%. The firm had revenue of $73.15 million for the quarter, compared to the consensus estimate of $72.64 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. As a group, research analysts forecast that National Bank Holdings Corp will post 2.46 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.76 annualized dividend and a dividend yield of 2.04%. National Bank’s dividend payout ratio is presently 35.19%.
In other news, Director Maria F. Spring sold 19,333 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $34.00, for a total value of $657,322.00. Following the sale, the director now owns 50,828 shares in the company, valued at approximately $1,728,152. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by insiders.
National Bank Profile
National Bank Holdings Corporation operates as the bank holding company for NBH Bank, N.A. that provides various banking products and financial services to commercial, business, and consumer clients in the United States. The company offers deposit products, including checking accounts, savings accounts, money market accounts, and other deposit accounts, including fixed-rate and fixed maturity time deposits.
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