National Bank Holdings Corporation
$40.96
-0.58%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.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is mid-range (P/E 14.3).
Valuation inputs: P/E 14.3, earnings yield +7.0%, momentum -0.6%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +7.9%, ROIC -6.1%).
Profitability stack: net margin +18.8%, ROE +7.9%, ROIC -6.1%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +86.0%, momentum -0.6%, net margin +18.8%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
National Bank Holdings Corporation Market vs Earnings Trajectory
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National Bank Holdings Corporation Fair Value Envelope
National Bank Holdings Corporation Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Healthy operating margins demonstrate effective cost control and strong business fundamentals.
Net Profit Margin
Strong net margins indicate efficient operations and favorable tax/interest management.
Effective Tax Rate
Moderate tax rate typical for most corporations. Represents standard tax burden on profits.
Profitability Insight
Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.
National Bank Holdings Corporation Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash Flow Quality Insight
Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.
National Bank Holdings Corporation Funding & Solvency Profile
Financial Health Analysis
Debt-to-Equity Ratio
High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
National Bank Holdings Corporation Street Expectations Map
Wall Street analysts project that NBHC stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 52.00, with estimates ranging from a low of 52.00 to a high of 52.00.
The consensus 1-year price target stands at 52.00, with estimates ranging from a low of 52.00 to a high of 52.00.
Analyst Consensus Analysis
Upside Potential
Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Analyst Conviction
Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.
Market Sentiment Insight
Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.
National Bank Holdings Corporation Insider Positioning
During the last 12 months, insiders have purchased $1.00M and sold $437K worth of NBHC shares, resulting in $565K of net buying activity.
3 Months
0
0.00
963
40.29K
-40K
-$40K
3-6 Months
24.2K
1.00M
0
0.00
+1.0M
+$1.00M
6-9 Months
0
0.00
10.7K
396.40K
-396K
-$396K
9-12 Months
0
0.00
0
0.00
+0
+$0
Top Buyers
Steinmetz John
Officer: Exec Mng Dir Of Strategic Init
$1.00M
Top Sellers
Spring Maria F
Director
$297K
Gupta Alka
Director
$27K
Zeile Art
Director
$26K
Joseph Fred J.
Director
$26K
Doyle Robin Ann
Director
$20K
Insider Activity Analysis
Net Insider Sentiment
Positive insider sentiment with $565K net buying. Buying activity substantially exceeds selling, indicating insider confidence.
Buy/Sell Ratio
Strong buy/sell ratio. Buying is at least double the selling activity, suggesting robust insider confidence.
Recent Trend (3 Months)
Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.
Insider Participation
5 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.
nbhc Dividend History
Learning Layer
Related Guides
Build conviction on NBHC by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.