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Investing.com - DA Davidson has raised the price target on National Bank Holdings (NYSE:NBHC) to $45.00 from $42.00 while maintaining a Buy rating. The stock, currently trading at $39.23, appears undervalued according to InvestingPro’s comprehensive Fair Value analysis, which aligns with DA Davidson’s bullish outlook.
The firm cited the bank’s conference call update, noting that loan growth has been restrained by credit trimming, but net growth is expected to return in the second half of 2025.
DA Davidson highlighted that the expense run rate is meaningfully lower due to efficiency initiatives, leading the firm to raise its earnings per share (EPS) forecast.
The firm increased its 2025 EPS estimate from $3.13 to $3.30 and its 2026 EPS estimate from $3.31 to $3.50, with adjustments including a significant decline in expense assumptions partially offset by a lower revenue outlook.
DA Davidson’s new $45 price target equates to 12.9 times its 2026 EPS estimate and 1.7 times current tangible book value, with the firm adding that the 2UniFi initiative will either contribute to EPS through revenue in time or through expense savings if sold or shuttered.
In other recent news, National Bank Holdings Corporation (NBHC) reported its financial results for the second quarter of 2025, showcasing a mixed performance. The company exceeded earnings per share (EPS) expectations, posting $0.88 compared to the forecasted $0.79. However, NBHC’s revenue came in below projections, recording $106.4 million against the anticipated $109.82 million. These results reflect a complex financial landscape for the company, with strong earnings but weaker-than-expected revenue.
Additionally, the market’s reaction was cautious despite the earnings beat. Analyst firms have yet to provide updates on any changes in their ratings or outlooks for NBHC following these results. Investors will likely continue to monitor the company’s performance closely in light of these developments.
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