Piper Sandler has adjusted its financial outlook for National Bank Holdings (NYSE: NYSE:NBHC), raising the price target to $48.00 from $44.00.
The firm maintained a Neutral rating on the bank's stock. This revision follows the bank's recent quarterly financial results and updates to Piper Sandler's forecasting model.
The updated model from Piper Sandler anticipates a stronger margin forecast and a higher net interest income (NII), despite a slightly smaller earning asset base.
Additionally, analysts expect increased fee income and modestly higher expenses. Provisions and charge-offs are projected to be slightly lower.
The bank's third-quarter performance has led to an increase in the earnings per share (EPS) estimates for the coming years. Piper Sandler now estimates the EPS for 2024 to be $3.15, up by $0.23, and for 2025 to be $3.20, an increase of $0.10. Moreover, the firm has introduced a new EPS estimate for 2026 at $3.45.
The 2026 EPS forecast is based on several key assumptions. Piper Sandler expects a relatively stable margin, high-single-digit loan growth, and good expense control. The firm also anticipates that National Bank Holdings will continue to demonstrate excellent credit quality.
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