Neuberger Berman Municipal Fund Inc. (NBH) AI Stock Analysis
NBH AI stock analysis summary
AI ResearchNeuberger Berman Municipal Fund Inc. (NBH) is a closed-end fixed income fund focused on federally tax-exempt municipal bonds. For the trailing twelve months, the fund generated $28.0M in revenue with a profit margin of 73.6%. The stock trades at $9.17 with an enterprise value of $499.4M and offers an annual dividend forward of $0.65.
- Market cap
- $263.3M
- Revenue (TTM)
- $28.0M
- P/E
- 13.3x
- 1Y return
- -5.6% S&P 500 16.8%
- Avg. target
- —
Bull case
- NBH provides a 7.09% dividend yield supported by a 39.3% payout ratio and a 25-year track record of regular distributions.
- In the trailing twelve months, the fund achieved a 73.6% profit margin and an 87.6% operating margin on revenue of $28.0M.
- Recent financial performance shows earnings growth of 31.7% year-over-year for the quarter ended April 30, 2026.
Bear case
- The stock has lagged broader benchmarks, posting a 5-year return of -21.7% while the S&P 500 returned 83.0%.
- Total debt of $227.9M substantially exceeds cash and short-term investments of $90,333, leading to net debt of $227.8M.
- The dividend has declined over time, recording a 5-year annualized growth rate of -2.7%.
What Neuberger Berman Municipal Fund does
Neuberger Berman Intermediate Municipal Fund Inc. operates as a closed-ended fixed income mutual fund managed by Neuberger Berman LLC and co-managed by Neuberger Berman Management LLC. Founded on July 29, 2002, the fund invests in U.S. fixed income markets, targeting municipal bonds that offer income exempt from federal income tax. These bonds typically have remaining maturities of less than 15 years and are rated in the top four credit categories. The fund seeks to maintain a weighted average duration between three and eight years to balance income generation with risk management.
Growth and profitability
Over the five years from FY2020 to FY2025, revenue grew at a CAGR of 16.2%. Results have shown historical fluctuations, moving from revenue of $19.9M in FY2021 to -$55.1M in FY2022, before rebounding to $10.0M in FY2023, $12.4M in FY2024, and $16.5M in FY2025. Net income was $4.8M in FY2025, resulting in an EPS of $0.16. For the trailing twelve months ended April 30, 2026, revenue stood at $28.0M with net margin at 73.6% and operating margin at 87.6%. In the latest quarter, quarterly revenue rose 1.8% year-over-year while quarterly earnings expanded 31.7%.
Balance sheet and cash flow
As of the quarter ended April 30, 2026, the fund held $90,333 in cash and short-term investments against total debt of $227.9M, leaving net debt at $227.8M. Total assets stood at $564.7M and shareholders' equity was $332.5M. The balance sheet reflects a current ratio of 2.26 and a debt-to-equity ratio of 0.69. Regarding share capital, the fund's share count increased 57.3% over five years.
Valuation and performance
At $9.17 per share, NBH trades at a trailing price-to-earnings multiple of 13.3x, compared to 12.1x for the median of its US-listed Financial Services peers. Its price-to-sales ratio is 9.7x versus the peer median of 3.2x, while its price-to-book ratio is 0.8x. Enterprise value stands at $499.4M, with an EV-to-revenue ratio of 8.9x. The stock has posted a 1-year return of -5.6% and a 5-year return of -21.7%, underperforming the S&P 500 (SPY), which gained 16.8% over one year and 83.0% over five years.
NBH dividend
NBH pays a monthly dividend with an annual dividend forward of $0.65, yielding 7.09%. The fund has paid dividends for 25 consecutive years and holds a payout ratio of 39.3%. Over the past five years, the dividend decreased at an annualized rate of 2.7%. Its last ex-dividend date was October 30, 2026.
What analysts expect
The fund has beaten earnings per share estimates in 2 of the last 4 quarters. It closed at $9.17 on October 16, 2026, which is 7.5% below its 200-day moving average. Trailing twelve-month earnings per share stand at $0.69.
Key risks and what to watch
- Historical revenue volatility remains high, as demonstrated by -$55.1M in revenue and a -$59.7M net loss during FY2022.
- The fund operates with $227.9M in total debt against a cash balance of $90,333.
- Shareholder dilution has occurred, with the fund's share count expanding by 57.3% over five years.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this NBH AI stock analysis
This page is an AI-written research summary of Neuberger Berman Municipal Fund Inc. (NBH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: NBH income statement, NBH balance sheet, NBH key metrics, NBH chart. See the NBH stock overview for the latest quote and news.
NBH AI stock analysis FAQ
What is NBH's dividend yield and payment schedule?
NBH has a forward dividend yield of 7.09% based on an annual dividend of $0.65. It distributes payments on a monthly frequency and has maintained payouts for 25 consecutive years.
What is Neuberger Berman Municipal Fund's investment focus?
The fund invests primarily in U.S. municipal bonds exempt from federal income tax. It emphasizes securities in the top four rating categories with remaining maturities under 15 years and an average duration of three to eight years.
How has NBH stock performed compared to the S&P 500?
NBH returned -5.6% over the past year and -21.7% over the past five years. In comparison, the S&P 500 (SPY) returned 16.8% and 83.0% over the same periods, respectively.
What are NBH's valuation multiples?
NBH trades at a trailing P/E of 13.3x, compared to 12.1x for the median of its US-listed Financial Services peers. It has a price-to-book ratio of 0.8x and a price-to-sales ratio of 9.7x.