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what it is
National Bank Holdings is a regional bank that takes deposits, makes loans, and earns money on the spread.
how it gets paid
Last year National Bank Hldgs made $47M in revenue. commercial and industrial lending was the main engine at $14M, or 30% of sales.
why it's growing
Revenue grew 2.1% last year. EDGAR shows revenue rose 195% vs. prior year to $33 million.
what just happened
NBHC's was about operating snapback: revenue hit $33M and EPS reached $2.43.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
70/100 earnings predictability — reasonably predictable
14.7x trailing p/e — the market's not buying it — or you found a deal
3.3% dividend yield — cash in your pocket every quarter
$2.85 fy2025 eps est
xvary composite: 53/100 — below average
What they do
National Bank Holdings is a regional bank that takes deposits, makes loans, and earns money on the spread.
Banking is local trust with math attached. NBHC has 1,259 employees serving commercial, business, and consumer clients, and its long-term debt is just $104 million, or 6% of capital, which means you are not funding a balance-sheet circus. That matters because a bank with a cleaner funding base gets more room to keep lending when weaker peers pull back.
How they make money
$47M
annual revenue · their business grew +2.1% last year
commercial and industrial lending
$14M
commercial real estate lending
$12M
deposit products and treasury services
$9M
small business administration and term lending
$7M
residential and consumer lending
$5M
The products that matter
business loans and treasury services
Commercial Banking
core engine of a $424.6M spread business
this is the core lending franchise, including municipal and non-profit clients, and it sits inside the $424.6M net interest income base that pays the bills.
lending-led
deposits and personal lending
Consumer Banking
supports a 3.98% net interest margin
deposits are the funding source. if funding costs rise faster than loan yields, that 3.98% margin gets squeezed and your earnings quality goes with it.
funding base
fee-based advisory and trust services
Wealth Management
smaller than lending at $47.2M
the fee business matters because it is less rate-sensitive, but the numbers here say it is still small next to $424.6M of net interest income.
fee buffer
Key numbers
14.7x
trailing p/e
P/E → how many years of earnings you are paying for → so what: you are not paying a meme-stock price for this bank.
3.3%
dividend yield
Dividend yield → cash paid to you each year as a share of price → so what: you get paid while waiting for earnings to compound.
$104M
long-term debt
Long-term debt → money owed over many years → so what: debt is only 6% of capital, which is light for a financial company.
$2.85
fy2025 eps est
EPS → profit per share → so what: sees earnings holding up near current levels, which supports the dividend and valuation.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 4 — safer than 20% of stocks
- price stability 75 / 100
- long-term debt $104M (6% of capital)
B++ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for NBHC right now.
source: institutional data · return history unavailable
What just happened
beat estimates
NBHC's was about operating snapback: revenue hit $33M and EPS reached $2.43.
EDGAR shows latest-quarter revenue rose 195% vs. prior year to $33 million, while EPS climbed 164% to $2.43. Quiet part out loud: for a $2 billion bank, one strong quarter can reshape the whole year's story fast.
$33M
revenue
$2.43
eps
195%
revenue growth
the number that mattered
$2.43 in quarterly EPS matters most because it is 85% of Value Line's full-year 2025 EPS estimate of $2.85 in a single quarter.
source: company earnings report, 2026
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What could go wrong
the #1 risk here is Vista Bancshares integration. NBHC already got a momentum bid. now it has to earn it.
med
Vista Bancshares integration
this is the main thesis driver in the current setup. if the acquired bank creates cost noise, credit issues, or slower-than-promised growth, the market loses the clean story it is paying for.
impact: a lot of the recent 17.4% move can unwind if the first full post-deal quarter looks messy.
med
valuation leaves less room for error than the business quality suggests
the page shows 17.2x earnings versus a 14.9x fair ratio, while trailing p/e is 14.7x and the industry reference is 11.9x. however you slice it, this is not a fire-sale bank multiple.
impact: if growth does not accelerate, the stock can drift back toward a more ordinary regional-bank valuation.
med
estimate cuts are already happening
FY2025 revenue estimates fell $14.8M in 90 days. that is a small number in absolute dollars, but the direction matters because analysts were getting less excited while the stock was getting more excited.
impact: if that trend continues from the current $424.6M estimate base, the acquisition narrative starts looking cosmetic.
med
net interest margin does the heavy lifting
NBHC generated $424.6M of net interest income versus $47.2M of non-interest income. that's concentration. if deposit costs rise or loan yields soften, there is not a huge fee business here to bail you out.
impact: pressure on the 3.98% net interest margin would hit the main earnings engine directly.
this is a $2B regional bank with $424.6M in revenue estimates, a 3.98% spread, and a stock that already ran 17.4% in 90 days. that combination works if integration goes right. it gets awkward fast if it doesn't.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
Q1 2026 earnings report
scheduled for May 4, 2026. this should be the first real test of whether Vista improves the numbers or just makes the story sound bigger.
metric
net interest margin
3.98% from Q3 2025 is the benchmark. if that slips while the deal is being integrated, your core earnings engine is losing efficiency at the worst time.
trend
estimate direction
revenue estimates already fell $14.8M over 90 days. one more round of downward revisions would say the street still is not buying the growth bridge.
risk
valuation discipline
with a $46.60 average target versus a $41.90 stock price, there is some upside. there is not a massive cushion for execution mistakes.
Analyst rankings
earnings predictability
70 / 100
earnings are reasonably stable, but not clockwork. in human-speak, analysts think you can model this bank — just not lazily.
consensus target spread
~11%
the average target is $46.60 versus a $41.90 stock. in human-speak, the street sees upside, but not the kind that excuses a bad integration quarter.
source: institutional data
Institutional activity
institutional ownership data for NBHC is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$42
current price
n/a
target midpoint · n/a from current
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