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National Bank Holdings Corporation

NBHC

Financial Services · 41.58 +0.7% today

Isolated · not yet confirmedMarket checked 11 Sept, 10:35 GMT-4

Market read

National Bank Holdings Corporation's current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 22 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 16 directly disclosed connections are confirming.

Company+0.7% todayVolume comparison unavailable
Market group0 of 22 activeRegional Banks · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • NBHC's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if NBHC's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Financial Services · Banks - Regional

No new filing conclusion is available. 0 of 22 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 16 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • NBHC's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods6
Price observations319
Usable filing statements87
Verified relationships8
Evidence supporting the case
  • Operating cash flow covered net income at 1.48x in the latest annual period.
  • Credit and interest rates has repeated favorable evidence across 4 filings.
Evidence challenging the case
  • Net margin changed -24.9 percentage points in the latest annual period.
  • Demand and volume has repeated adverse evidence across 4 filings.
Questions before a position
  • EV/sales is 54% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

41.58
6m+4.0%12m+4.8%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$35.8M+10.5%$3.01-0.0%
2022-12-31$37.7M+5.3%$2.18+5.2%
2023-12-31$46.9M+24.6%$3.72+16.6%
2024-12-31$46.2M-1.6%$3.08+0.8%
2025-12-31$47.1M+2.1%$2.85-0.9%

What management says matters

Persistent and emerging business drivers

Credit and interest ratespositive · 4 filings
Excluding these items, the current quarter adjusted non-interest expense totaled $81.5 million, increasing from the first quarter of 2025 primarily due to an increase in core operating expense growth from our recent acquisition.
10-Q · May 7, 2026
Demand and volumenegative · 4 filings
The increase was primarily driven by higher interest bearing demand, savings and money market deposits totaling $1.3 billion, time deposits totaling $293.2 million, and long-term debt totaling $80.7 million.
10-Q · May 7, 2026
Legal and regulatory exposurepositive · 4 filings
The Company incurred $0.1 million and $1.1 million of interest expense related to FHLB advances or other short-term borrowings for the three months ended March 31, 2026 and 2025, respectively .
10-Q · May 7, 2026
Restructuring and cost reductionspositive · 2 filings
Excluding the acquisition and restructuring expenses, adjusted non-interest expense during the three months ended March 31, 2026 increased $19.5 million, or 31.4%, to $81.5 million, primarily due to an increase in core operating expenses driven by growth from…
10-Q · May 7, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 33.6× · EV/sales 25.9×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.

Price action

How the market is pricing the story

41.58+0.7% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 10:35 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for NBHC. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for NBHC. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind NBHC

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depended on by

OSBCOld Second Bancorp, Inc.customerMay 7, 2026

Immediately following the merger, Evergreen Bank Group (“Evergreen”), an Illinois-chartered banking corporation and wholly-owned subsidiary of Bancorp Financial, merged with and into Old Second National Bank, with the Bank continuing as the surviving bank.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 18 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

NBHC is currently a Early Follower in the organic co-movement group Regional Banks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for NBHC; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.