| Over a week ago | ||||
National Bank Holdings … National Bank Holdings announced that its Board of Directors authorized an increase to its repurchase authority of up to $75M of the Company's common stock from time to time either in the open market or in privately negotiated transactions in accordance with applicable regulations of the Securities and Exchange Commission. The Company has repurchased $6.9 million of its previously authorized $50.0 million stock repurchase program announced in February 2020. The new program of $75.0 million replaces this previously authorized program in its entirety. As of the close of business on February 22, 2021 the Company had outstanding 30,642,692 shares of Class A Common Stock, excluding 165,940 shares of restricted Class A common stock issued but not yet vested. Since early 2013, the Company has repurchased 27.4 million shares, or 53% of shares issued, at a weighted average price of $20.21 per share. | ||||
| Over a month ago | ||||
The dividend will be… The dividend will be payable on March 15 to shareholders of record at the close of business on February 26. | ||||
Reports Q4 CET1 capital… Reports Q4 CET1 capital ratio 14.7%. Common book value per share increased 66c to $26.79 at December 31, 2020 In announcing these results, CEO Tim Laney shared, "I am pleased to announce that our solid performance during the fourth quarter contributed to record full year earnings of $2.85 per share. In the face of the pandemic, my teammates came together to serve our clients and communities while also taking care of each other. An intense focus on the safety and soundness of the Bank resulted in full-year net charge-offs of just six basis points. The diversity and granularity of our loan portfolio continues to produce desirable results. Further, we built on our relationship banking model to grow our low cost transaction deposits 28.8% in the fourth quarter, compared to the same period in the prior year." | ||||
| Over a quarter ago | ||||
Catch up on today's… Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hologic (HOLX) downgraded to Hold from Buy at Needham with analyst Mike Matson saying the company is seeing a "massive benefit" from COVID-19 testing, but testing sales will begin to decline in 2021. 2. BNY Mellon (BK) downgraded to Underperform from Neutral at BofA with analyst Michael Carrier anticipating "muted returns" from the company after the recent market and interest-rate driven rally. 3. National Bank (NBHC) downgraded to Neutral from Buy at DA Davidson with analyst Jeff Rulis noting that the stock has outperformed its peers by about 15% year-to-date thanks to the company's diverse revenue mix, expense controls and "steady" credit. 4. FirstEnergy (FE) downgraded to Neutral from Buy at BofA with analyst Julien Dumoulin-Smith saying disclosures in the company's 10-Q about payments to an unnamed consultant who went on to regulate the company's Ohio utilities in early 2019 once again put the focus on the company's legal and financial exposure in Ohio and "would appear to align" with PUCO Chair Sam Randazzo, whose house was recently raided by the FBI. 5. Liquidia Technologies (LQDA) downgraded to Neutral from Outperform at Wedbush with analyst Liana Moussatos saying the FDA is unlikely to approve LIQ861 on the November 24 PDUFA date, likely creating a negative near-term catalyst. Moussatos does not see any positive material catalysts for the next 12 months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, Reference Link | ||||
DA Davidson analyst Jeff… DA Davidson analyst Jeff Rulis downgraded National Bank to Neutral from Buy with an unchanged $35 price target. The analyst notes that the stock has outperformed its peers by about 15% year-to-date thanks to the company's diverse revenue mix, expense controls, and "steady" credit. Rulis warns however that the near-term outlook for National Bank is "less positive" amid a shift to a risk-on environment, along with his reduced buyback confidence and the company's "weakening" pre-provision net revenue trends. | ||||
DA Davidson downgraded… DA Davidson downgraded National Bank to Neutral from Buy. | |
Reports Q3 common book… Reports Q3 common book value per share $26.13. Reports Q3 CET1 capital ratio 14.25%. Reports Q3 net charge-offs .04%. In announcing these results, CEO Tim Laney shared, "Despite the challenges presented in 2020, we delivered record quarterly earnings of $0.90 per diluted share and record-breaking fee income. We are prudently supporting our clients and ensuring the safety and soundness of our bank all while maintaining excellent credit quality with annualized net charge-offs of just four basis points." | |
National Bank Holdings … National Bank Holdings announced that its Board of Directors approved a cash dividend to shareholders. The quarterly cash dividend of twenty cents ($0.20) per share of common stock will be payable on September 15, 2020 to shareholders of record at the close of business on August 28, 2020. | |
Total loans ended the… Total loans ended the quarter at $4.8B, increasing $276.6M, or 24.7% annualized, due to $348.7M of PPP loans. Total Q2 loan originations were $461.6 million, led by PPP loan originations of $358.8M and commercial loan originations of $52.6M. | |