On Tuesday, Goldman Sachs reported that it has downgraded National Bank Holdings Corp (NBHC
The firm has cut its rating on NBHC from “Neutral” to “Sell,” and has given the company a $21 price target. This price target suggests that the stock will remain flat at its current price of $20.94.
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An analyst from the firm commented: “While we believe that NBHC can grow EPS longer term as it leverages its $400mn of excess capital (above 10% tier 1 leverage), with shares trading at 1.1x TBV, we see limited upside in the near-term without any strategic M&A.”
Looking ahead, the firm has maintained its FY2013 EPS estimate of 26 cents. For FY2014 and FY2015, estimates have been maintained at 57 cents and $1.88.
National Bank Holdings shares were mostly flat during pre-market trading Tuesday. The stock is up 10% YTD.
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