National Bank Holdings Corporation Common Stock (NBHC)

FairStock Score: 36/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at a regional bank first as a conservator of capital, then as a compounding machine. National Bank Holdings is a $1.7B-market-cap bank holding company serving commercial, business, and consumer clients. The filed numbers show a business that is profitable but not growing: FY2023 net income was $142.0M and diluted EPS $3.72; FY2024 net income was $118.8M and EPS $3.08; FY2025 net income was $109.6M and EPS $2.85. Revenue was roughly flat—$46.9M, $46.2M, and $47.1M across those years. In fiscal Q2 2026, the quarter ended 2026-06-30, net income was $26.5M and diluted EPS $0.58, below the $34.0M and $0.88 reported for fiscal Q2 2025. That trend is the opposite of what I want. At the 2026-10-13 close of $37.56, FairStock calculates a P/E of 15.78 and P/B of 1.00; ROE is only 6.53% and ROCE 0.87%. A bank earning mid-single-digit returns on equity is not a great business unless it is very cheap, and at book value it is not obviously mispriced. The 3.41% dividend yield and beta of 0.83 offer some comfort, and Piotroski F-Score of 6/9 says the balance sheet is not flashing red. But the Lynch category is SLOW GROWER, with 4.3% five-year profit growth and 7.8% revenue growth. I cannot assess CET1, NIM, credit costs, or loan-loss reserves from this data, which are the real bank risks. FairStock Score 36/100 suggests caution. This looks like a fair-to-slightly-cheap bank with deteriorating earnings, not a compelling bargain.

In plain English: National Bank Holdings is a bank holding company that provides checking, savings, and loans to commercial and consumer customers. It makes money, but profits have been shrinking over the past few years, and returns on shareholders' money look modest. At $37.56 a share, the price looks roughly fair compared with its earnings and accounting value, while the dividend pays about 3.4%.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer