Piper Sandler bullish on National Bank Holdings, starts coverage with 'overweight' rating

National Bank Holdings

25/03/2026 11:40

** Piper Sandler assumes coverage of National Bank Holdings Corp NBHC.N with an "overweight" rating; sets PT of $48, representing a 24.8% upside to the stock's last close

** Brokerage says NBHC has been able to generate a peer leading net interest margin (NIM) largely driven by its disciplined loan and deposit pricing

** Adds, NBHC has the opportunity to scale some unique fee businesses including 2UniFi, Cambr and trust & wealth management ($1.3B AUM)

** 2UniFi is a financial ecosystem targeting small and medium-sized businesses with treasury management depository capabilities, brokerage says

** Cambr operates as an embedded finance deposit administration platform that generates fees from off-balance sheet deposits with minimal overhead costs - Piper Sandler

** Four of five analysts rate stock "strong buy" or "buy" and one "hold"; their median PT is $46 - data compiled by LSEG

** As of last close, stock was up 1.1% YTD

 (Reporting by Pragyan Kalita in Bengaluru)

 ((Pragyan.Kalita@thomsonreuters.com;))