NBHC National Bank Holdings Corp

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in only 1/4 quarters. Q3 2025: $9M, Q3 2020: $0M, Q3 2021: $0M, Q2 2020: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

New buyback activity: $9M after no prior spending

What percentage of free cash flow is going to buybacks? Bull: 30-80%. Bear: <10% or >80%.

Negative FCF ($-45M), cannot compute buyback ratio

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 1,005,814 shares = 2.6% of 38,054,482 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

1 open-market purchase by Steinmetz John

• Steinmetz John (Exec Mng Dir of Strategic Init) bought 24,200 shares at $41.41 on 2026-02-11

Are insider purchases happening during the same quarters the company is actively buying back stock?

Insider buying coincided with company buybacks in 0 of 4 quarters

Looking at all open-market transactions, are insiders net buyers or net sellers?

Insiders bought $1M, sold $0M (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected