State Street Corp Grows Stock Position in National Bank Holdings Co. (NYSE:NBHC)

State Street Corp raised its position in shares of National Bank Holdings Co. (NYSE:NBHC - Free Report) by 7.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,799,224 shares of the financial services provider's stock after buying an additional 126,796 shares during the quarter. State Street Corp owned 4.74% of National Bank worth $75,747,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of National Bank by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,950,210 shares of the financial services provider's stock valued at $76,152,000 after buying an additional 167,711 shares during the period. Natixis Advisors LLC lifted its position in shares of National Bank by 99.2% in the second quarter. Natixis Advisors LLC now owns 29,816 shares of the financial services provider's stock worth $1,164,000 after buying an additional 14,850 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of National Bank by 12,407.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,824,912 shares of the financial services provider's stock valued at $71,263,000 after acquiring an additional 1,810,321 shares during the last quarter. Principal Financial Group Inc. boosted its position in National Bank by 36.1% during the third quarter. Principal Financial Group Inc. now owns 786,096 shares of the financial services provider's stock worth $33,095,000 after purchasing an additional 208,303 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of National Bank during the 3rd quarter worth $491,000. Institutional investors and hedge funds own 92.65% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Piper Sandler upped their price objective 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. Hovde Group downgraded 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. Stephens raised their price target on National Bank from $46.00 to $49.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods raised their price objective on shares of National Bank from $47.00 to $52.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, DA Davidson increased their price objective on National Bank from $51.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, National Bank presently has a consensus rating of "Hold" and an average price target of $51.40.

Insider Buying and Selling

In related news, insider Valerie D. Kramer sold 897 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $50.11, for a total transaction of $44,948.67. Following the sale, the insider now owns 9,755 shares of the company's stock, valued at $488,823.05. The trade was a 8.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Richard U. Jr. Newfield sold 19,259 shares of National Bank 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 completion of the sale, the insider now directly owns 143,210 shares of the company's stock, valued at approximately $7,133,290.10. The trade was a 11.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,431 shares of company stock valued at $1,067,505. Company insiders own 3.10% of the company's stock.

National Bank Price Performance

Shares of NYSE:NBHC traded down $2.51 during trading on Wednesday, hitting $43.05. 249,226 shares of the company were exchanged, compared to its average volume of 203,953. National Bank Holdings Co. has a 1-year low of $32.13 and a 1-year high of $51.76. The business's 50 day moving average is $46.28 and its 200-day moving average is $42.53. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.64 billion, a P/E ratio of 13.33 and a beta of 0.84.

National Bank (NYSE:NBHC - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $156.39 million for the quarter, compared to analyst estimates of $102.32 million. National Bank had a net margin of 20.52% and a return on equity of 9.93%. During the same period in the prior year, the firm posted $0.94 EPS. Equities analysts forecast that National Bank Holdings Co. will post 3.18 earnings per share for the current year.

National Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.16 annualized dividend and a yield of 2.69%. This is a positive change from National Bank's previous quarterly dividend of $0.28. National Bank's dividend payout ratio (DPR) is 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.