National Bank Holdings Q2 adjusted net income beats estimates on higher earning assets

Overview

• US regional bank's Q2 adjusted net income beat analyst expectations, but adjusted EPS missed

• Company generated record quarterly loan fundings and 10% annualized loan growth

• Company executed $11.1 mln in share buybacks during the quarter

Outlook

• Company did not provide specific financial guidance for the current or future periods

Result Drivers

• LOAN GROWTH - Record quarterly loan fundings of $926.9 mln and 10% annualized loan growth contributed to results, per CEO Tim Laney

• NET INTEREST INCOME - Net interest income rose $0.5 mln to $111.5 mln, mainly due to growth in average interest-earning assets and an additional day in the quarter

• NON-INTEREST INCOME - Non-interest income increased $1.8 mln, driven by higher partnership investment income and service charges, partly offset by lower mortgage banking income

Company press release: ID:nGNX83qvfR

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for National Bank Holdings Corp is $49.00, about 7.1% above its July 20 closing price of $45.76

Reuters Recommended Reads

• July 21 - Southern First Bancshares' Q2 profit rises on loan growth and margin expansion

• July 21 - Atlantic Union Bankshares beats Q2 EPS estimates on loan growth

• July 21 - KeyCorp quarterly profit rises on interest income strength

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)