National Bank Holdings (NBHC) AI Stock Analysis

• Market Cap: $1.50B
• Dividend Yield: 3.01%
• Average Volume (3M): 330.14K
• Price to Earnings (P/E): 12.7
• Beta (1Y): 0.87
• Revenue Growth: 0.60%
• EPS Growth: -6.31%
• Country: US
• Employees: 1,259
• Sector: Financial
• Sector Strength: 73
• Industry: Banks - Regional
• EPS (TTM): 0.92
• Shares Outstanding: 38,045,624
• 10 Day Avg. Volume: 266,486
• 30 Day Avg. Volume: 330,140
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.93
• Enterprise Value/Revenue: 2.36
• Enterprise Value/Gross Profit: 3.63
• Enterprise Value/Ebitda: 8.69
• 1Y Price Target: $45.00
• Price Target Upside: 14.77% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 80 Outperform
• Price Target: $45.00 ▲(14.77% Upside)

National Bank Holdings scores well due to its strong financial performance and strategic initiatives, including partnerships and dividend declarations. Technical indicators suggest short-term bullish momentum, though caution is advised due to potential overbought conditions. The company's attractive valuation and positive earnings call further support the stock's favorable outlook.

National Bank Holdings Business Overview & Revenue Model

Company Description

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. The company also provides commercial and industrial loans and leases, such as working capital loans, equipment loans, lender finance loans, food and agriculture loans, government and non-profit loans, owner occupied commercial real estate loans, and other commercial loans and leases; non-owner occupied commercial real estate loans consisting of loans on commercial properties, such as office buildings, warehouse/distribution buildings, multi-family, hospitality, and retail buildings; small business administration loans to support manufacturers, distributors, and service providers; term loans, line of credits, and real estate secured loans; residential real estate loans; and consumer loans. In addition, it offers treasury management solutions comprising online and mobile banking, commercial credit card, wire transfer, automated clearing house, electronic bill payment, lock box, remote deposit capture, merchant processing, cash vault, controlled disbursements, and fraud prevention services, as well as other auxiliary services, including account reconciliation, collections, repurchase accounts, zero balance accounts, and sweep accounts. As of January 20, 2022, the company operated through a network of 81 banking centers located in Colorado, the greater Kansas City region, New Mexico, Utah, and Texas. It also operates 121 ATMs. The company was formerly known as NBH Holdings Corp. and changed its name to National Bank Holdings Corporation in March 2012. National Bank Holdings Corporation was incorporated in 2009 and is headquartered in Greenwood Village, Colorado.

How the Company Makes Money

NBHC generates revenue through various channels, primarily by earning interest from loans made to customers, including personal, business, and mortgage loans. The interest income from these loans is a significant revenue stream. Additionally, the bank earns non-interest income from fees associated with services such as account maintenance, transaction fees, and investment services. Mortgage origination and servicing fees also contribute to revenue, particularly during favorable housing market conditions. Furthermore, NBHC's partnerships with local businesses and community organizations help to enhance its customer base and drive deposit growth, which is crucial for funding its lending activities. Overall, the company focuses on maintaining a diversified revenue model to mitigate risks associated with fluctuations in interest rates and economic conditions.

National Bank Holdings Financial Statement Overview

Summary

National Bank Holdings exhibits strong financial health with solid profitability, a strong balance sheet, and robust cash flow generation. The company's low leverage and efficient operations position it well within the industry, although attention should be paid to monitoring revenue trends moving forward.

Income Statement

National Bank Holdings shows strong profitability with a steady gross profit margin and net profit margin. The company experienced revenue growth from 2022 to 2024 but faced a small revenue decline in TTM versus 2024. EBIT and EBITDA margins remain robust, indicating efficient operations.

Balance Sheet

The company maintains a healthy balance sheet with a low debt-to-equity ratio, suggesting low leverage. Return on equity is strong, reflecting effective use of equity capital. The equity ratio is stable, indicating a solid capital structure.

Cash Flow

Operating cash flow remains positive and has grown over time, supporting strong free cash flow generation. The free cash flow to net income ratio is healthy, indicating good cash management. The operating cash flow to net income ratio suggests efficient conversion of profits into cash.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	594.31M	553.56M	346.52M	306.15M	353.91M
Gross Profit	394.68M	411.80M	291.94M	301.62M	311.22M
EBITDA	169.44M	199.46M	102.63M	128.56M	123.85M
Net Income	118.81M	142.05M	71.27M	93.61M	88.59M
Balance Sheet
Total Assets	9.81B	9.95B	9.57B	7.21B	6.66B
Cash, Cash Equivalents and Short-Term Investments	655.39M	819.65M	901.79M	1.54B	1.27B
Total Debt	123.41M	413.83M	459.10M	62.25M	22.90M
Total Liabilities	8.50B	8.74B	8.48B	6.37B	5.84B
Stockholders Equity	1.31B	1.21B	1.09B	840.11M	820.69M
Cash Flow
Free Cash Flow	120.68M	130.10M	202.20M	179.50M	-10.56M
Operating Cash Flow	155.27M	166.94M	214.63M	179.50M	-6.21M
Investing Cash Flow	64.66M	-404.03M	-752.14M	-473.84M	-152.59M
Financing Cash Flow	-284.41M	230.90M	-114.20M	528.99M	654.18M

National Bank Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 39.21
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NBHC, the sentiment is Positive. The current price of 39.21 is above the 20-day moving average (MA) of 37.76, above the 50-day MA of 38.35, and below the 200-day MA of 39.92, indicating a neutral trend. The MACD of 0.32 indicates Negative momentum. The RSI at 57.92 is Neutral, neither overbought nor oversold. The STOCH value of 85.59 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NBHC.

National Bank Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NBHC	80 Outperform	$1.50B	12.73	9.15%	3.01%	0.60%	-6.31%
CUBI	79 Outperform	$2.22B	17.58	8.17%	―	-7.45%	-45.67%
GABC	78 Outperform	$1.57B	15.94	9.80%	2.72%	22.42%	-5.59%
STBA	77 Outperform	$1.51B	11.61	9.47%	3.41%	-0.57%	-3.92%
STEL	77 Outperform	$1.59B	14.58	7.12%	1.76%	-2.85%	-0.33%
SRCE	75 Outperform	$1.58B	11.11	12.49%	2.29%	6.43%	11.69%
Sector *	68 Neutral	$17.89B	12.03	10.28%	3.73%	9.80%	1.66%

National Bank Holdings Corporate Events

National Bank Holdings Highlights Strategic Focus in Q2 2025

National Bank Holdings Corporation has announced its intention to use and make available certain materials for meetings with investors and analysts, highlighting their strategic focus and financial performance. The announcement underscores the company’s strong market positioning, with a robust balance sheet as of the second quarter of 2025, including total assets of $10 billion and total deposits of $8.3 billion. The company’s operations are supported by its presence in attractive markets, which are ranked highly for economic performance and business opportunities, potentially benefiting stakeholders through sustained growth and stability.

National Bank Holdings Declares Quarterly Cash Dividend

On August 4, 2025, National Bank Holdings Corporation’s Board of Directors approved a quarterly cash dividend of $0.30 per share, payable on September 15, 2025, to shareholders of record as of August 29, 2025. This decision reflects the company’s commitment to delivering value to its shareholders and may impact its financial performance and investor relations positively.

National Bank Holdings Reports Strong Q2 2025 Results

On July 22, 2025, National Bank Holdings Corporation announced its financial results for the second quarter of 2025, reporting a significant increase in net income and earnings per share compared to the previous quarter. The company highlighted a strong net interest margin and a disciplined approach to credit, resulting in minimal net charge-offs. The launch of 2UniFi, a new financial ecosystem, is expected to enhance business owners’ access to banking services. The company’s capital ratios remain robust, providing flexibility for growth opportunities, while asset quality shows stability with no provision expense for credit losses recorded in the quarter.

National Bank Holdings Partners with Nav Technologies

On July 21, 2025, National Bank Holdings Corporation announced a strategic partnership with Nav Technologies, Inc. to enhance services for small and medium-sized businesses through the 2UniFi financial ecosystem. This collaboration will integrate 2UniFi into Nav’s marketplace, providing small business owners with improved access to deposit and lending solutions. Additionally, NBHC made a $5 million investment in Nav, with CEO Tim Laney joining Nav’s board as an observer. The partnership aims to empower small businesses with essential financial tools and insights, potentially strengthening NBHC’s market position and expanding its reach within the U.S. banking system.