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Denver-based bank offering commercial and retail banking across Colorado, Kansas, Texas and other Western/Midwest markets.
Denver-based bank offering commercial and retail banking across Colorado, Kansas, Texas and other Western/Midwest markets.
Earns mainly on the gap between loan interest and deposit costs, in a franchise assembled since 2009, when it was formed to buy failed banks from US regulators, then built out by acquiring smaller banks.
Moat: narrow (scale, distribution). Multi-state Western US branch franchise built through targeted bank acquisitions.
Headquarters: Greenwood Village, Colorado, US · Founded: 2009 · Employees: 1,302
Size National Bank (NBHC) is a United States Financials company (Regional Banks) with a market value of $1.63B, the 1935th largest of 3,117 United States companies the cockpit tracks. Shares closed at $36.91 on 6 Nov 2026.
Performance Over six months the shares fell 13.9%, against +1.5% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 14.1% over the last twelve months (peer median +3.0%); the operating margin is 13.8% (peer median 41.4%).
Valuation It trades at 1.01× book value against a peer median of 0.87× (9th most expensive of 21).
Price implies The share price implies a return on equity of about 9.0%; National Bank delivers 3.6%, so the price asks more than the business earns today.
Short interest Short interest is 4.2% of the free float (15 Oct 2026).
Next results Next results expected around 26 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $673M | $587M | $594M | $564M | $355M |
| Revenue growth | — | -1% | +5% | +59% | — |
| Net income | $53.4M | $109M | $118M | $142M | $71.1M |
| Free cash flow | $170M | $132M | $121M | $121M | $57.2M |
| Capital expenditure | $21.6M | $29.9M | $34.6M | $36.8M | $12.4M |
| Total debt | $349M | $101M | $152M | $446M | $496M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| National Bank NBHC | $1.63B | -14% | +14% | 4% | 1.01× | 9.0% |
| Glacier Bancorp GBCI | $6.27B | -1% | +21% | 9% | 1.45× | 11.2% |
| FirstSun Capital Bancorp FSUN | $1.77B | +5% | +45% | 4% | 0.98× | 6.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NBHC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.3% | +0.2% | 6th lowest of 21 |
| 6-month return | -13.9% | +1.5% | 3rd lowest of 21 |
| Return on equity | 3.6% | 10.1% | lowest of 21 |
| Price / book | 1.01× | 0.87× | 9th most expensive of 21 |
| Trailing P/E | 29.4× | 12.1× | most expensive of 19 |
| ROE the price implies | 9.0% | 6.1% | 9th most demanding of 21 |
| ROE delivered | 3.6% | 10.4% | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| National Bank NBHC | United States | $1.63B | -14% | +14% | 4% | 1.01× | 9.0% | 3.6% |
| ConnectOne Bancorp CNOB | United States | $1.63B | +8% | +24% | 10% | 1.10× | 10.7% | 9.6% |
| Bank First BFC | United States | $1.64B | +1% | +33% | 12% | 1.98× | 10.9% | 11.9% |
| Origin Bancorp OBK | United States | $1.64B | +14% | +5% | 10% | 1.29× | 10.1% | 10.4% |
| Jiangsu Zhangjiagang Rural Commercial Bank 002839.SZ | China | $1.61B | -4% | -10% | 11% | 0.54× | 2.6% | 10.6% |
| Nanto Bank 8367.T | Japan | $1.65B | +7% | +13% | 6% | 0.81× | 5.9% | 6.1% |
| Zhejiang Shaoxing Ruifeng Rural Commercial Bank 601528.SS | China | $1.60B | +4% | -8% | 10% | 0.51× | 3.4% | 9.9% |
| Bank of Nagoya 8522.T | Japan | $1.67B | -8% | +25% | 7% | 0.83× | 6.1% | 7.3% |
| TriCo Bancshares TCBK | United States | $1.67B | +2% | +4% | 11% | 1.26× | 9.6% | 10.6% |
| Republic Bancorp RBCAA | United States | $1.59B | +17% | -2% | 12% | 1.52× | 10.1% | 11.5% |
| Keiyo Bank 8544.T | Japan | $1.58B | -1% | +19% | 6% | 0.78× | 6.9% | 5.7% |
| Live Oak Bancshares LOB | United States | $1.57B | -10% | +9% | 11% | 1.30× | 17.1% | 11.1% |
| Byline Bancorp BY | United States | $1.70B | +15% | +2% | 12% | 1.34× | 10.3% | 12.3% |
| Yibin City Commercial Bank 2596.HK | Hong Kong | $1.55B | +2% | +6% | 6% | 0.91× | 5.1% | 5.5% |
| K Bank 279570.KS | South Korea | $1.53B | -18% | 0% | 6% | 0.93× | 5.3% | n/a |
| Bank of Tianjin 1578.HK | Hong Kong | $1.52B | -22% | -4% | 5% | 0.14× | 3.3% | 5.2% |
| Ogaki Kyoritsu Bank 8361.T | Japan | $1.75B | +45% | +39% | 6% | 0.66× | 6.1% | 5.6% |
| Lakeland Financial LKFN | United States | $1.51B | -1% | +2% | 15% | 2.07× | 14.8% | 15.4% |
| Bank of Guizhou 6199.HK | Hong Kong | $1.77B | -4% | -2% | 8% | 0.24× | 3.6% | 8.0% |
| Jiangsu Suzhou Rural Commercial Bank 603323.SS | China | $1.50B | -1% | -7% | 11% | 0.49× | 2.3% | 10.7% |
| Jiangsu Jiangyin Rural Commercial Bank 002807.SZ | China | $1.77B | +5% | -3% | 10% | 0.57× | 2.9% | 10.5% |