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What this page is: Delvantic's full research page for National Bank Holdings Corporation (NBHC) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.
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profile-header/price-overview— company profile, live quote, market capextended-analysis— the core: three AI lens reads with findings, scores, and the analyst memofuture-predictions— our forward price-band predictionsmarket-narrative/ai-findings/gpt-critique— narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)- Members-only sections (render as login gates for anonymous readers):
price-history,income-trend,key-metrics,financials(statement tables),insider-trading. The analysis above is public; the raw data tables require a free account.
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any ticker resolves at delvantic.com/stock/TICKER ·
raw inputs are public-company filings and market data (via licensed data feeds);
every model, score, lens read, and prediction on this page is Delvantic's own analysis.
National Bank Holdings Corporation
NBHC NYSE
Financial Services · Banks - Regional
Greenwood Village, CO 80111, United States
nationalbankholdings.com
Price
$43.50
Market Cap
$1.9B
Employees
1,250
Beta
0.77
Avg Volume
403,766
Last Dividend
$1.25
CEO
Mr. G. Timothy Laney
National Bank Holdings Corporation is a bank holding company that delivers a wide array of financial services to individual, corporate, and institutional clients. Primarily operating through a network of community banks, the corporation's core function is providing comprehensive banking solutions, which include personal banking, business lending, and wealth management services. National Bank Holdings Corporation is instrumental in supporting local economies by offering tailored financial products such as checking and savings accounts, mortgage services, and commercial loans. The company strongly focuses on building relationships within the communities it serves, facilitating financial growth and stability across various sectors. By leveraging innovative digital solutions alongside traditional banking practices, National Bank Holdings Corporation remains a competitive player in the regional banking market, ensuring accessibility and convenience for its customers. Its role extends beyond typical banking functions, often acting as a catalyst for economic development and financial literacy in the communities it reaches.
Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 13 No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was Jul 21, 2026.
EPS surprise history — vs analyst consensus · 4 prints of vendor history
+16.1%
Jan '26
+10.8%
Apr '26
+72.7%
Jun '26
-3.7%
Jul '26
| Print date | EPS est. | EPS actual | Revenue est. | Revenue actual |
|---|---|---|---|---|
| Jul 21, 2026 | $0.81 | $0.78 -3.7% | — | — |
| Jun 11, 2026 | $-0.33 | $-0.09 +72.7% | — | — |
| Apr 21, 2026 | $0.65 | $0.72 +10.8% | — | — |
| Jan 23, 2026 | $1.61 | $1.87 +16.1% | — | — |
Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.
Recent SEC Filings
| Filed | Form | Document |
|---|---|---|
| Aug 7, 2026 | SCHEDULE 13G | View |
| Aug 5, 2026 | 4 | View |
| Aug 5, 2026 | 10-Q | View |
| Aug 4, 2026 | 8-K | View |
| Jul 31, 2026 | SCHEDULE 13G | View |
| Jul 29, 2026 | SCHEDULE 13G/A | View |
| Jul 27, 2026 | 8-K | View |
| Jul 21, 2026 | 8-K | View |
| Jun 16, 2026 | 4 | View |
| May 21, 2026 | 4 | View |
| May 20, 2026 | 11-K | View |
| May 20, 2026 | 144 | View |
Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.
Price Overview
Last updated: Aug 13, 2026 1:52pm (just now)
Current data · timestamped when a report runs
$43.50
Change · Aug 13
+0.43 (+1.00%)
Day Range
$43.27 – $43.64
52-Week Range
$35.06 – $47.28
50-Day MA
$43.62
200-Day MA
$40.80
Volume
6,286.00
Share Structure
Outstanding
44,537,718.00
Float
42,281,837.00
Free Float
94.9%
High free float
— 94.9% of shares trade freely, ~5.1% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
TD Twelve Data statement
HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEXStock Price / EPS (Diluted)
15.26
Stock Price: $43.50
EPS (Diluted): 2.85
EPS (Diluted): 2.85
P/B Ratio (Price vs net asset value)
HEXStock Price / Book Value Per Share
1.21
Stock Price: $43.50
Total Equity: $1.39B
Shares: 38,447,018
Total Equity: $1.39B
Shares: 38,447,018
EV/EBITDA (Total value vs operating profit)
HEXEnterprise Value / EBITDA
—
Market Cap: $1.92B
Total Debt: $54.54M
Cash: $417.06M
EBITDA: N/A
Total Debt: $54.54M
Cash: $417.06M
EBITDA: N/A
EBITDA not available
Enterprise Value (Takeover price (cap + debt - cash))
HEXMarket Cap + Total Debt - Cash
$1.6B
Market Cap: $1.92B
Total Debt: $54.54M
Cash: $417.06M
Total Debt: $54.54M
Cash: $417.06M
Gross Margin (Revenue left after direct costs)
HEXGross Profit / Revenue
—
Gross Profit: N/A
Revenue: $411.58M
Revenue: $411.58M
Missing from API: Gross Profit
Operating Margin (Revenue left after all operations)
HEXOperating Income / Revenue
—
Operating Income: N/A
Revenue: $411.58M
Revenue: $411.58M
Missing from API: Operating Income
Net Margin (Revenue left as actual profit)
HEXNet Income / Revenue
26.6%
Net Income: $109.57M
Revenue: $411.58M
Revenue: $411.58M
ROE (Profit from shareholder equity)
HEXNet Income / Total Equity
7.9%
Net Income: $109.57M
Total Equity: $1.39B
Total Equity: $1.39B
ROIC (Profit from all invested capital)
HEXNOPAT / Invested Capital
—
Operating Income: N/A
Tax Rate: 18.0%
Equity: $1.39B
Total Debt: $54.54M
Cash: $417.06M
Tax Rate: 18.0%
Equity: $1.39B
Total Debt: $54.54M
Cash: $417.06M
Missing from API: Operating Income
Current Ratio (Can it pay short-term bills)
HEXCurrent Assets / Current Liabilities
—
Current Assets: N/A
Current Liabilities: N/A
Current Liabilities: N/A
Missing from API: Current Assets, Current Liabilities
Debt/Equity (Leverage — debt vs equity)
HEXTotal Debt / Total Equity
0.04
Short-Term Debt: $0.00
Long-Term Debt: $54.54M
Total Debt: $54.54M
Total Equity: $1.39B
Long-Term Debt: $54.54M
Total Debt: $54.54M
Total Equity: $1.39B
Rev/Share (Top-line per share)
HEXRevenue / Shares Outstanding
$10.71
Revenue: $411.58M
Shares: 38,447,018
Shares: 38,447,018
Book Value/Share (Net assets per share)
HEX(Total Assets - Total Liabilities) / Shares
$36.03
Total Equity: $1.39B
Shares: 38,447,018
Shares: 38,447,018
FCF/Share (Real cash generated per share)
HEX(Operating Cash Flow + CapEx) / Shares
$4.22
Operating CF: $162.42M
CapEx: $0.00
Shares: 38,447,018
CapEx: $0.00
Shares: 38,447,018
Div Yield (Annual income from holding)
TDLast Annual Dividend / Stock Price
2.9%
Last Dividend: $1.25
Stock Price: $43.50
Stock Price: $43.50
Payout Ratio (Earnings paid out as dividends)
HEXDividends Paid / Net Income
42.0%
Dividends Paid: -$46.06M
Net Income: $109.57M
Net Income: $109.57M
Income Statement (Annual)
Last updated: Aug 10, 2026 6:56pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $292.3M | $328.7M | $420.1M | $401.4M | $411.6M |
| Cost of Revenue | — | — | — | — | — |
| Gross Profit | — | — | — | — | — |
| Operating Expenses | $131.9M | $130.9M | $148.7M | $155.6M | $157.0M |
| Operating Income | — | — | — | — | — |
| Net Income | $93.6M | $71.3M | $142.0M | $118.8M | $109.6M |
| EBITDA | — | — | — | — | — |
| EPS | $3.04 | $2.20 | $3.74 | $3.10 | $2.86 |
| EPS (Diluted) | $3.01 | $2.18 | $3.72 | $3.08 | $2.85 |
Balance Sheet (Annual)
Last updated: Aug 10, 2026 6:56pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $845.7M | $195.5M | $190.8M | $127.8M | $417.1M |
| Total Current Assets | — | — | — | — | — |
| Total Assets | $7.2B | $9.6B | $10.0B | $9.8B | $9.9B |
| Current Liabilities | — | — | — | — | — |
| Long-Term Debt | $39.5M | $53.9M | $54.2M | $54.5M | $54.5M |
| Total Liabilities | $6.4B | $8.5B | $8.7B | $8.5B | $8.5B |
| Total Equity | $840.1M | $1.1B | $1.2B | $1.3B | $1.4B |
| Retained Earnings | $289.9M | $330.7M | $433.1M | $508.9M | $572.5M |
Cash Flow (Annual)
Last updated: Aug 10, 2026 6:56pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $179.5M | $214.6M | $166.9M | $155.3M | $162.4M |
| Capital Expenditure | — | — | — | — | — |
| Free Cash Flow | — | — | — | — | — |
| Acquisitions (net) | — | — | — | — | — |
| Net Debt Issued / (Repaid) | $40.0M | — | — | — | — |
| Dividends Paid | -$26.9M | -$30.4M | -$39.6M | -$42.9M | -$46.1M |
| Stock Buybacks | -$36.4M | — | — | — | -$15.2M |
| Net Change in Cash | $234.7M | -$651.7M | -$6.2M | -$64.5M | $289.2M |
Growth Trends (YoY %)
Last updated: Aug 10, 2026 6:56pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +12.4% | +27.8% | -4.4% | +2.5% |
| Gross Profit Growth | — | — | — | — |
| Operating Income Growth | — | — | — | — |
| Net Income Growth | -23.9% | +99.3% | -16.4% | -7.8% |
| EBITDA Growth | — | — | — | — |
Dividend History (Last 20)
Last updated: Aug 10, 2026 6:56pm (2d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-29 | $0.32 | — | — | — |
| 2026-02-27 | $0.32 | — | — | — |
| 2025-11-28 | $0.31 | — | — | — |
| 2025-08-29 | $0.30 | — | — | — |
| 2025-05-30 | $0.30 | — | — | — |
| 2025-02-28 | $0.29 | — | — | — |
| 2024-11-29 | $0.29 | — | — | — |
| 2024-08-30 | $0.28 | — | — | — |
| 2024-05-31 | $0.28 | — | — | — |
| 2024-02-22 | $0.27 | — | — | — |
| 2023-11-22 | $0.27 | — | — | — |
| 2023-08-24 | $0.26 | — | — | — |
| 2023-05-25 | $0.26 | — | — | — |
| 2023-02-23 | $0.25 | — | — | — |
| 2022-11-23 | $0.25 | — | — | — |
| 2022-08-25 | $0.23 | — | — | — |
| 2022-05-26 | $0.23 | — | — | — |
| 2022-02-24 | $0.23 | — | — | — |
| 2021-11-24 | $0.22 | — | — | — |
| 2021-08-26 | $0.22 | — | — | — |
Industry Benchmarks
Compares NBHC against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for NBHC — it's generated by the pipeline (
market-narrative step).
Claude Reading
No AI findings yet for NBHC — they're generated by the
pipeline (
ai-findings step) when a report is run on this ticker.
GPT Reading
No GPT reading yet for NBHC — it's generated by the
pipeline (
gpt-critique step) after the other Big-3 seats, when a
report is run on this ticker.
Grok Reading
No Grok reading yet for NBHC — it's generated by the
pipeline (
grok-critique step) alongside the other Big-3 seats, when a
report is run on this ticker.
Advanced Analysis Forensic deep-dive · four lenses
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Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.530 · 761561a2 · 2026-08-12 19:06:35