Is National Bank Holdings Corp. overvalued or undervalued?

As of 13 May 2025, the valuation grade for National Bank Holdings Corp. has moved from expensive to fair. The company is currently fairly valued, with a P/E ratio of 20, a Price to Book Value of 1.65, and an EV to EBITDA ratio of 14.43. In comparison to its peers, First Commonwealth Financial Corp. has a lower P/E ratio of 13.30, while Trustmark Corp. is considered very expensive with a P/E of 33.53.
Despite the fair valuation, National Bank Holdings Corp. has underperformed relative to the S&P 500 over various time frames, including a year-to-date return of -14.54% compared to the S&P 500's 2.44%. However, its dividend yield stands out at an impressive 148.49%, indicating a strong return on investment for shareholders. Overall, the company appears to be positioned reasonably within its industry, with potential for stability moving forward.