National Bank (NYSE:NBHC) Shares Gap Up After Better-Than-Expected Earnings

National Bank Holdings Co. (NYSE:NBHC - Get Free Report)'s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $41.87, but opened at $43.97. National Bank shares last traded at $43.41, with a volume of 15,116 shares trading hands.

The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. National Bank had a net margin of 21.40% and a return on equity of 10.44%. The business had revenue of $156.39 million during the quarter, compared to analysts' expectations of $102.32 million. During the same quarter in the prior year, the business posted $0.94 EPS.

National Bank Announces Dividend

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 $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, August 30th. National Bank's dividend payout ratio (DPR) is presently 32.18%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NBHC shares. StockNews.com downgraded shares of National Bank from a "hold" rating to a "sell" rating in a report on Wednesday, July 24th. Piper Sandler cut shares of National Bank from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $42.00 to $46.00 in a research report on Thursday, July 25th. Stephens lifted their price objective on shares of National Bank from $38.00 to $46.00 and gave the company an "equal weight" rating in a research note on Thursday, July 25th. DA Davidson lifted their price objective on shares of National Bank from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday, July 2nd. Finally, Hovde Group lifted their price target on shares of National Bank from $42.00 to $50.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, National Bank has an average rating of "Hold" and an average target price of $46.40.

Insider Buying and Selling at National Bank

In other news, EVP Christopher S. Randall sold 3,750 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $43.51, for a total transaction of $163,162.50. Following the completion of the transaction, the executive vice president now owns 14,365 shares of the company's stock, valued at approximately $625,021.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other National Bank news, EVP Christopher S. Randall sold 3,750 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $43.51, for a total value of $163,162.50. Following the completion of the sale, the executive vice president now directly owns 14,365 shares of the company's stock, valued at approximately $625,021.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO G. Timothy Laney sold 49,763 shares of the business's stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $42.64, for a total value of $2,121,894.32. Following the sale, the chief executive officer now owns 272,126 shares in the company, valued at approximately $11,603,452.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,192 shares of company stock worth $4,431,998 over the last 90 days. Insiders own 3.10% of the company's stock.

Institutional Trading of National Bank

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of National Bank in the 2nd quarter valued at about $41,000. Meeder Asset Management Inc. acquired a new position in shares of National Bank in the 2nd quarter valued at about $52,000. Choreo LLC acquired a new position in shares of National Bank in the 2nd quarter valued at about $209,000. ProShare Advisors LLC increased its holdings in shares of National Bank by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,450 shares of the financial services provider's stock valued at $269,000 after purchasing an additional 513 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of National Bank in the 2nd quarter valued at about $319,000. Institutional investors and hedge funds own 92.65% of the company's stock.

National Bank Trading Up 7.6 %

The firm has a market cap of $1.70 billion, a P/E ratio of 12.95 and a beta of 0.85. The company has a 50 day moving average of $42.04 and a 200 day moving average of $39.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.93 and a current ratio of 0.93.

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.