National Bank Holdings
National Bank Holdings Corporation operates as the bank holding company for NBH Bank, N.A. The last earnings update was 69 days ago. More info.
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NBHC Share Price and Events
7 Day Returns
1 Year Returns
NBHC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| National Bank Holdings (NBHC) | -0.8% | -4.7% | 0.1% | -9.1% | 67.2% | 80.6% |
| US Banks | -0.2% | 2.8% | -0.2% | -5.9% | 45.5% | 46.9% |
| US Market | 1.1% | 4.3% | 2.9% | 4.7% | 37.7% | 43.6% |
1 Year Return vs Industry and Market
- NBHC underperformed the Banks industry which returned -5.9% over the past year.
- NBHC underperformed the Market in United States of America which returned 4.7% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
National Bank Holdings
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for National Bank Holdings.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity = $25.25 * 10.8% |
$2.73 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 5 analysts. | $25.25 |
| Discount Rate (Cost of Equity) | See below | 7.6% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Banks Unlevered Beta | Simply Wall St/ S&P Global | 0.59 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 21%) (30.31%)) |
0.822 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.82 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.822 * 5.96%) |
7.63% |
Discounted Cash Flow Calculation for NYSE:NBHC using Excess Returns Model Model
The calculations below outline how an intrinsic value for National Bank Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Note the calculations below are per share.
See our documentation to learn about this calculation.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (10.8% – 7.63%) * $25.25) |
$0.80 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= $0.80 / (7.63% - 2.73%) |
$16.41 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= $25.25 + $16.41 |
$41.67 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $41.67 |
| Current discount | Discount to share price of
$34.70
= -1 x ($34.70 - $41.67) / $41.67 |
16.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- National Bank Holdings's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- National Bank Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for National Bank Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
National Bank Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $2.33 |
| NYSE:NBHC Share Price ** | NYSE (2019-07-16) in USD | $34.7 |
| United States of America Banks Industry PE Ratio | Median Figure of 592 Publicly-Listed Banks Companies | 12.77x |
| United States of America Market PE Ratio | Median Figure of 3,084 Publicly-Listed Companies | 17.98x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of National Bank Holdings.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:NBHC Share Price ÷ EPS (both in USD) = 34.7 ÷ 2.33 |
14.91x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- National Bank Holdings is overvalued based on earnings compared to the US Banks industry average.
- National Bank Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
National Bank Holdings's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 14.91x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
6%per year |
| United States of America Banks Industry PEG Ratio | Median Figure of 271 Publicly-Listed Banks Companies | 1.26x |
| United States of America Market PEG Ratio | Median Figure of 2,125 Publicly-Listed Companies | 1.58x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 14.91x ÷ 6% |
2.5x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- National Bank Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
National Bank Holdings's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $23.10 |
| NYSE:NBHC Share Price * | NYSE (2019-07-16) in USD | $34.7 |
| United States of America Banks Industry PB Ratio | Median Figure of 592 Publicly-Listed Banks Companies | 1.21x |
| United States of America Market PB Ratio | Median Figure of 5,240 Publicly-Listed Companies | 1.81x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:NBHC Share Price ÷ Book Value per Share (both in USD) = 34.7 ÷ 23.10 |
1.5x |
* Primary Listing of National Bank Holdings.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- National Bank Holdings is overvalued based on assets compared to the US Banks industry average.
Value checks
We assess National Bank Holdings's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check) National Bank Holdings has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- National Bank Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- National Bank Holdings's earnings growth is positive but not above the United States of America market average.
- National Bank Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:NBHC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | 6% |
| NYSE:NBHC Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 6.4% |
| United States of America Banks Industry Earnings Growth Rate | Market Cap Weighted Average | 2.7% |
| United States of America Banks Industry Revenue Growth Rate | Market Cap Weighted Average | 3.9% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14.1% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.5% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | 302 | 80 | 5 | |
| 2019-12-31 | 287 | 76 | 5 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 265 | 59 | 72 |
| 2018-12-31 | 263 | 74 | 61 |
| 2018-09-30 | 242 | 42 | 34 |
| 2018-06-30 | 219 | -7 | 23 |
| 2018-03-31 | 196 | 47 | 15 |
| 2017-12-31 | 172 | 58 | 15 |
| 2017-09-30 | 174 | 8 | 35 |
| 2017-06-30 | 174 | 4 | 36 |
| 2017-03-31 | 168 | 10 | 31 |
| 2016-12-31 | 162 | -4 | 23 |
| 2016-09-30 | 167 | 5 | 16 |
| 2016-06-30 | 162 | 12 | 10 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
All data from National Bank Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | 2.48 | 2.65 | 2.30 | 6.00 |
| 2019-12-31 | 2.38 | 2.45 | 2.29 | 6.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 2.33 |
| 2018-12-31 | 2.00 |
| 2018-09-30 | 1.14 |
| 2018-06-30 | 0.80 |
| 2018-03-31 | 0.53 |
| 2017-12-31 | 0.54 |
| 2017-09-30 | 1.29 |
| 2017-06-30 | 1.33 |
| 2017-03-31 | 1.13 |
| 2016-12-31 | 0.81 |
| 2016-09-30 | 0.56 |
| 2016-06-30 | 0.32 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if National Bank Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess National Bank Holdings's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
National Bank Holdings has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has National Bank Holdings performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- National Bank Holdings has delivered over 20% year on year earnings growth in the past 5 years.
- National Bank Holdings's 1-year earnings growth exceeds its 5-year average (387.9% vs 46.9%)
- National Bank Holdings's earnings growth has exceeded the US Banks industry average in the past year (387.9% vs 40.7%).
Earnings and Revenue History
All data from National Bank Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 264.53 | 71.83 | 155.93 | |
| 2018-12-31 | 263.24 | 61.38 | 164.10 | |
| 2018-09-30 | 242.07 | 34.04 | 155.88 | |
| 2018-06-30 | 218.61 | 23.03 | 144.11 | |
| 2018-03-31 | 196.16 | 14.72 | 132.24 | |
| 2017-12-31 | 172.34 | 14.52 | 113.68 | |
| 2017-09-30 | 174.31 | 34.63 | 112.91 | |
| 2017-06-30 | 174.12 | 35.72 | 114.04 | |
| 2017-03-31 | 168.30 | 31.02 | 113.98 | |
| 2016-12-31 | 162.02 | 23.01 | 114.70 | |
| 2016-09-30 | 167.45 | 16.36 | 116.54 | |
| 2016-06-30 | 161.75 | 9.65 | 119.12 | |
| 2016-03-31 | 162.70 | 3.83 | 122.68 | |
| 2015-12-31 | 164.90 | 4.83 | 127.84 | |
| 2015-09-30 | 151.18 | 3.77 | 126.69 | |
| 2015-06-30 | 155.49 | 5.50 | 126.94 | |
| 2015-03-31 | 158.67 | 8.95 | 126.99 | |
| 2014-12-31 | 162.34 | 9.14 | 127.69 | |
| 2014-09-30 | 171.32 | 7.86 | 130.04 | |
| 2014-06-30 | 177.75 | 5.48 | 132.81 | |
| 2014-03-31 | 184.76 | 6.25 | 135.26 | |
| 2013-12-31 | 194.84 | 6.91 | 136.79 | |
| 2013-09-30 | 205.57 | 8.92 | 139.15 | |
| 2013-06-30 | 209.45 | 0.09 | 147.65 | |
| 2013-03-31 | 209.25 | -0.10 | 149.71 | |
| 2012-12-31 | 213.64 | -0.54 | 149.19 | |
| 2012-09-30 | 209.49 | -1.09 | 149.90 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- National Bank Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- National Bank Holdings used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
- Unable to establish if National Bank Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Past performance checks
We assess National Bank Holdings's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
National Bank Holdings has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
This company is a bank or financial institution.Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Balance sheet
Assets
Liabilities and shares
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from National Bank Holdings Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 715.00 | 296.55 | 120.85 |
| 2018-12-31 | 695.01 | 371.83 | 131.05 |
| 2018-09-30 | 673.07 | 205.07 | 148.56 |
| 2018-06-30 | 660.19 | 266.56 | 170.09 |
| 2018-03-31 | 645.86 | 222.42 | 312.88 |
| 2017-12-31 | 532.41 | 263.34 | 270.47 |
| 2017-09-30 | 550.24 | 227.36 | 252.57 |
| 2017-06-30 | 544.49 | 253.08 | 140.68 |
| 2017-03-31 | 537.62 | 171.95 | 231.28 |
| 2016-12-31 | 536.19 | 134.14 | 164.45 |
| 2016-09-30 | 549.77 | 191.08 | 129.94 |
| 2016-06-30 | 598.91 | 194.18 | 152.74 |
| 2016-03-31 | 603.92 | 146.86 | 197.17 |
| 2015-12-31 | 617.54 | 184.84 | 168.44 |
| 2015-09-30 | 621.19 | 209.49 | 205.96 |
| 2015-06-30 | 718.27 | 231.27 | 296.23 |
| 2015-03-31 | 762.68 | 331.71 | 64.92 |
| 2014-12-31 | 794.58 | 178.28 | 258.41 |
| 2014-09-30 | 808.96 | 111.98 | 69.31 |
| 2014-06-30 | 863.93 | 85.43 | 81.29 |
| 2014-03-31 | 895.85 | 91.07 | 79.94 |
| 2013-12-31 | 897.79 | 99.62 | 81.77 |
| 2013-09-30 | 1,031.25 | 116.47 | 169.79 |
| 2013-06-30 | 1,044.24 | 122.88 | 212.68 |
| 2013-03-31 | 1,086.74 | 53.11 | 152.90 |
| 2012-12-31 | 1,090.56 | 53.69 | 189.91 |
| 2012-09-30 | 1,095.84 | 46.19 | 167.81 |
BANK ANALYSIS
This company is a bank or financial institution, which is analysed accordingly below.
- National Bank Holdings has an acceptable proportion of non-loan assets held.
- National Bank Holdings's liabilities are made up of primarily low risk sources of funding.
- Loans at National Bank Holdings are broadly funded by customer deposits.
- National Bank Holdings's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
- National Bank Holdings has a sufficient allowance for bad loans.
- National Bank Holdings has an acceptable level of bad loans (less than 2%).
Financial health checks
We assess National Bank Holdings's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) National Bank Holdings has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is National Bank Holdings's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
National Bank Holdings
shares you are expected to receive
$44
in your first year as a dividend.
Dividend Amount
- National Bank Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.42%).
- National Bank Holdings's dividend is below the markets top 25% of dividend payers in United States of America (3.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| United States of America Banks Industry Average Dividend Yield | Market Cap Weighted Average of 479 Stocks | 3% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2017 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2020-12-31 | 0.81 | 6.00 |
| 2019-12-31 | 0.71 | 6.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-09 | 0.760 | 2.097 |
| 2019-01-22 | 0.680 | 1.971 |
| 2018-11-07 | 0.680 | 2.027 |
| 2018-08-09 | 0.560 | 1.496 |
| 2018-05-02 | 0.560 | 1.444 |
| 2018-01-18 | 0.360 | 1.077 |
| 2017-11-01 | 0.360 | 1.107 |
| 2017-08-02 | 0.360 | 1.076 |
| 2017-05-03 | 0.360 | 1.109 |
| 2017-01-19 | 0.280 | 0.869 |
| 2016-11-04 | 0.280 | 0.962 |
| 2016-10-20 | 0.280 | 1.163 |
| 2016-08-03 | 0.200 | 0.870 |
| 2016-05-04 | 0.200 | 0.979 |
| 2016-01-21 | 0.200 | 1.006 |
| 2015-11-04 | 0.200 | 0.938 |
| 2015-08-06 | 0.200 | 0.969 |
| 2015-05-06 | 0.200 | 0.978 |
| 2015-01-22 | 0.200 | 1.076 |
| 2014-11-05 | 0.200 | 1.042 |
| 2014-08-06 | 0.200 | 1.020 |
| 2014-05-08 | 0.200 | 1.022 |
| 2014-02-27 | 0.200 | 1.010 |
| 2013-11-07 | 0.200 | 0.978 |
| 2013-08-08 | 0.200 | 0.975 |
| 2013-05-01 | 0.200 | 1.055 |
| 2013-02-19 | 0.200 | 1.085 |
| 2012-10-31 | 0.200 | 1.076 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, National Bank Holdings has been paying a dividend for less than 10 years.
- Dividend payments have increased, but National Bank Holdings only paid a dividend in the past 7 years.
Income/ dividend checks
We assess National Bank Holdings's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can National Bank Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) National Bank Holdings has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $3,188,134 |
| AGE | 59 |
| TENURE AS CEO | 9.1 years |
CEO Bio
Mr. G. Timothy Laney, also known as Tim, has been the Chief Executive Officer and President of National Bank Holdings Corp. (NBH) at Bank Midwest, National Association since June 2010. Mr. Laney serves as the Chief Executive Officer and President at NBH Bank, National Association. Mr. Laney has 30+ years of experience leading financial services companies in the public company sector, including Bank of America and Regions Financial Corporation. He served as the Chief Executive Officer and President at Hillcrest Bank, N.A. Mr. Laney served as Senior Executive Vice President and Head of Business Services Banking Group at Regions Bank until May 28, 2010. Mr. Laney served as the Head of Business Services at Regions Financial Corp. since February 22, 2010. Mr. Laney served as Senior Executive Vice President of Business Services at Regions Financial Corp. until February 22, 2010. Mr. Laney served as an Interim Chief Credit Officer of Credit Group at Regions Financial Corp. since September 2009. Mr. Laney served as a Senior Executive Vice President of Business Services Group of Regions Financial Corp. from August 1, 2007 to May 28, 2010 and served as its Head of Business Services Group until May 28, 2010. He joined Regions in late 2007 to lead the transformation of the bank’s wholesale lines of business. During his 24 year tenure with Bank of America, Mr. Laney held senior management roles in small business, commercial banking, private banking, corporate marketing and change management. Mr. Laney served as President at Bank of America serving in progressive management roles in treasury, commercial banking, private banking, corporate marketing and change management. He joined Bank of America's Relationship Management Development Program in 1983. Mr. Laney served as Head of Global Corporate Sales For the Global Treasury Services Group of Bank of America at Florida, a subsidiary of Bank of America Corp. (de) since February 2006 and served as its President. In his early career, Mr. Laney served in commercial, corporate banking and treasury management roles. Mr. Laney returned to Florida in 1998 as President of the Private Bank. He advanced to Florida State President and Eastern U.S. Commercial Banking Executive in 2001. Mr. Laney served as the Global Large Corporate Treasury Executive where he managed offices in 20 countries and served corporate and financial institutions in 150 countries. He served as Chairman of Community Banks of Colorado. He serves as Chairman of the Board of Bank Midwest, National Association. He has been the Chairman of National Bank Holdings Corp. since May 2014 and has been its Director since 2010. He serves as Chairman of NBH Bank. He serves as a Director at Regions Business Capital Corporation, NBH Bank and Regions Equipment Finance Corporation. He served as Director of Enterprise Florida, Inc. He is actively involved in several community outreach programs in Charlotte, North Carolina. In 2016, Mr. Laney received the Colorado Banker of Distinction Award, recognizing his outstanding leadership, dedication and support of activities vital to the health of local businesses and the community. He graduated from Florida State University with a Bachelor's degree in Finance and Business. He serves as a Board Member for the Colorado State Banking Board, the Colorado Bankers Association and Moffitt Cancer Center. Notably, Mr. Laney is also the Founder of the Do More Charity Challenge.
CEO Compensation
- Tim's compensation has been consistent with company performance over the past year, both up more than 20%.
- Tim's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the National Bank Holdings management team in years:
- The tenure for the National Bank Holdings management team is about average.
Management Team
Tim Laney
Chairman
$3M
59
9.1 yrs
Aldis Birkans
Executive VP
$675K
45
0.9 yrs
Zsolt Besskó
Chief Human Resources Officer
$972K
49
5.9 yrs
Rick Newfield
Chief Risk Management Officer
$1M
58
8.5 yrs
Brendan Zahl
EVP, Head of Residential Banking & Market President for Colorado Springs Area
$795K
43
1.5 yrs
Nicole Van Denabeele
Senior VP & Chief Accounting Officer
37
1.1 yrs
Charlie Koch
Market Manager of Commercial Banking & Director of Treasury Management
0.3 yrs
Chris Randall
Executive VP
52
6.2 yrs
Patrick Sobers
EVP, Head of Bus. & Consumer Banking
$501K
61
3.3 yrs
Whitney Bartelli
President of Bank Midwest
50
1.4 yrs
Board of Directors Tenure
Average tenure and age of the National Bank Holdings board of directors in years:
- The tenure for the National Bank Holdings board of directors is about average.
Board of Directors
Tim Laney
Chairman
$3M
59
5.2 yrs
Brendan Zahl
EVP, Head of Residential Banking & Market President for Colorado Springs Area
$795K
43
Chris Randall
Executive VP
52
2.5 yrs
Patrick Sobers
EVP, Head of Bus. & Consumer Banking
$501K
61
2.5 yrs
Whitney Bartelli
President of Bank Midwest
50
2.5 yrs
Ruth Stevenson
EVP, Chief Client Executive & Deposit Operations Executive
70
0.5 yrs
Ralph Clermont
Lead Director
$205K
71
5.2 yrs
Bob Dean
Independent Director
$170K
67
10.1 yrs
Burney Warren
Independent Director
$170K
71
9.8 yrs
Micho Spring
Independent Director
$150K
69
9.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 18. Mar 19 | Sell | Whitney Bartelli | Individual | 14. Mar 19 | 15. Mar 19 | -350 | $34.49 | $-12,059 | ||
| 11. Dec 18 | Sell | G. Laney | Individual | 06. Dec 18 | 06. Dec 18 | -15,136 | $34.87 | $-527,786 | ||
| 10. Sep 18 | Sell | Robert Dean | Individual | 07. Sep 18 | 07. Sep 18 | -3,771 | $39.50 | $-148,955 | ||
| 27. Aug 18 | Sell | Whitney Bartelli | Individual | 24. Aug 18 | 24. Aug 18 | -985 | $40.63 | $-40,017 | ||
| 17. Aug 18 | Sell | Micho Spring | Individual | 16. Aug 18 | 16. Aug 18 | -9,216 | $40.49 | $-373,195 | ||
| 17. Aug 18 | Sell | Zsolt Besskó | Individual | 16. Aug 18 | 16. Aug 18 | -1,325 | $40.40 | $-53,524 | ||
| 06. Aug 18 | Sell | Robert Dean | Individual | 03. Aug 18 | 03. Aug 18 | -2,486 | $40.65 | $-101,064 | ||
Management checks
We assess National Bank Holdings's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) National Bank Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Should You Worry About National Bank Holdings Corporation's (NYSE:NBHC) CEO Salary Level?
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … According to our data, National Bank Holdings Corporation has a market capitalization of US$993m, and pays its CEO total annual compensation worth US$2.7m. … We looked at a group of companies with market capitalizations from US$400m to US$1.6b, and the median CEO total compensation was US$2.2m.
Simply Wall St - – Full articleWhat You Must Know About National Bank Holdings Corporation's (NYSE:NBHC) 3.50% ROE
and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … National Bank Holdings Corporation’s (NYSE:NBHC) most recent return on equity was a substandard 3.50% relative to its industry performance of 8.83% over the past year. … See our latest analysis for National Bank Holdings
Simply Wall St - – Full articleLooking At National Bank Holdings Corporation (NYSE:NBHC) From All Angles
As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … financial health as well as
Simply Wall St - – Full articleThree Key Risks For National Bank Holdings Corporation (NYSE:NBHC) You Should Know
National Bank Holdings Corporation (NYSE:NBHC) is a small-cap bank with a market capitalisation of US$1.18b. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting National Bank Holdings’s bottom line. … View our latest analysis for National Bank Holdings
Simply Wall St - – Full articleDoes National Bank Holdings Corporation's (NYSE:NBHC) PE Ratio Warrant A Sell?
This analysis is intended to introduce important early concepts to people who are starting to invest. … National Bank Holdings Corporation (NYSE:NBHC) is currently trading at a trailing P/E of 71.5x, which is higher than the industry average of 16.9x. … Check out our latest analysis for National Bank Holdings
Simply Wall St - – Full articleShould You Be Concerned About National Bank Holdings Corporation’s (NYSE:NBHC) Liquidity?
As a small-cap finance stock with a market capitalisation of US$1.19b, the risk and profitability of National Bank Holdings Corporation (NYSE:NBHC) are largely tied to the underlying economic growth of the region it operates in US. … These reforms target bank level regulation and aims to improve the banking sector’s ability to absorb shocks arising from economic stress which could expose financial institutions to vulnerabilities. … High liquidity and low leverage could position National Bank Holdings favourably at the face of macro headwinds.
Simply Wall St - – Full articleWhen Should You Buy National Bank Holdings Corporation (NYSE:NBHC)?
National Bank Holdings Corporation (NYSE:NBHC), operating in the financial services industry based in United States,. … Today I will analyse the most recent data on National Bank Holdings’s outlook and valuation to see if the opportunity still exists? … What's the opportunity in National Bank Holdings
Simply Wall St - – Full articleWas National Bank Holdings Corporation's (NYSE:NBHC) Earnings Decline A Part Of Broader Industry Downturn?
In this commentary, I will examine National Bank Holdings Corporation's (NYSE:NBHC) latest earnings update (31 December 2017) and compare these figures against its performance over the past couple of years, as well as how the rest of the banks industry performed. … For National Bank Holdings, its most recent earnings (trailing twelve month) is US$14.58M, which compared to the prior year's level, has plunged by a significant -36.64%. … This suggest that National Bank Holdings has been increasing expenses, which is hurting margins and earnings, and is not a sustainable practice.
Simply Wall St - – Full articleIs It Too Late To Buy National Bank Holdings Corporation (NYSE:NBHC)?
National Bank Holdings Corporation (NYSE:NBHC), operating in the financial services industry based in United States, saw a decent share price growth in the teens level on the NYSE over the last few months. … Another thing to keep in mind is that National Bank Holdings’s share price is quite stable relative to the rest of the market, as indicated by its low beta. … If you believe National Bank Holdings should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable.
Simply Wall St - – Full articleFinancially Sounds Stocks Poised For High Growth
NBHC’s projected future profit growth is a robust 39.15%, with an underlying 67.87% growth from its revenues expected over the upcoming years. … PCYG’s projected future profit growth is a robust 28.77%, with an underlying 75.68% growth from its revenues expected over the upcoming years. … NasdaqCM:PCYG Future Profit Jan 22nd 18 For more financially robust companies with high growth potential to enhance your portfolio, use our free platform to explore our interactive list of these stocks.
Simply Wall St - – Full articleCompany Info
Description
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. It also provides commercial and industrial loans and leases, such as working capital loans, equipment loans, lender finance loans, agriculture loans, government and non-profit loans, owner occupied commercial real estate loans, and other commercial loans and leases. The company also offers non-owner occupied commercial real estate loans consisting of loans on commercial properties, such as office buildings, warehouse/distribution buildings, and multi-family and retail buildings; and small business administration loans to support manufacturers, distributors, and service providers; term loans, line of credit, 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 December 31, 2018, the company operated through a network of 104 banking centers located in Colorado, the greater Kansas City area, New Mexico, and Texas. It also operates 128 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.
Details
| Name: | National Bank Holdings Corporation |
| NBHC | |
| Exchange: | NYSE |
| Founded: | 2009 |
| $1,075,427,258 | |
| 30,992,140 | |
| Website: | http://www.nationalbankholdings.com |
| Address: |
National Bank Holdings Corporation 7800 East Orchard Road, Suite 300, Greenwood Village, Colorado, 80111, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | NBHC | Class A Common Stock | New York Stock Exchange | US | USD | 20. Sep 2012 | |
| DB | NB9 | Class A Common Stock | Deutsche Boerse AG | DE | EUR | 20. Sep 2012 |
Number of employees
Current staff
Industry
| Regional Banks | |
| Banks |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/17 00:31 |
| End of day share price update: | 2019/07/16 00:00 |
| Last estimates confirmation: | 2019/07/10 |
| Last earnings filing: | 2019/05/09 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
