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Quite a few courts have explicitly ruled that Barack Obama is a natural born citizen. No court has ruled otherwise.
1) Allen v. Obama (Arizona)
2) Ankeny v. Daniels (Indiana)
3) Fair v. Obama (Maryland)
4) Farrar v. Obama (Georgia)
5) Freeman v. Obama (Illinois)
6) Galasso v. Obama (New Jersey)
7) Jackson v. Obama (Illinois)
8) Jordan v. Obama (Washington)
9) Judd v. Obama (California)
10) Kesler v. Obama (Indiana)
11) Martin v. Obama (Illinois)
12) Paige v. Condos & Obama (Vermont)
13) Powell v. Obama (Georgia)
14) Purpura, et. al. v. Obama (New Jersey)
15) Strunk v. New York State Board of Elections (NY)
16) Swensson v. Obama (Georgia)
17) Taitz v. Obama (District of Columbia)
18) Tisdale v. Obama (Virginia)
19) Voeltz v. Obama, et. al. (Florida)
20) Welden v. Obama (Georgia)
For example:
Taitz v. Obama {Quo Warranto} “This is one of several such suits filed by Ms. Taitz in her quixotic attempt to prove that President Obama is not a natural born citizen, as is required by the Constitution. This Court is not willing to go tilting at windmills with her.”— Chief US District Court Judge Royce C. Lamberth, U.S. District Court for the District of Columbia, April 14, 2010
http://www.scribd.com/doc/30040084/TAITZ-v-OBAMA-QW-23-MEMORANDUM-OPINION-dcd-04502943496-23-0

Swensson, Powell, Farrar and Welden v. Obama, Administrative Law Judge Michael Mahili, State of Georgia Administrative Hearings: “For the purposes of this analysis, the Court considered that Barack Obama was born in the United States. Therefore, as discussed in Ankeny, he became a citizen at birth and is a natural born citizen. Accordingly, President Barack Obama is eligible as a candidate for the presidential primary under O.C.G.A. under Section 21-2-5(b). February 3, 2012
http://www.scribd.com/doc/80424508/Swensson-Powell-Farrar-Welden-vs-Obama-Judge-Michael-Malihi-s-Final-Order-Georgia-Ballot-Access-Challenge-2-3-12

Pupura & Moran v. Obama: New Jersey Administrative Law Judge Jeff S. Masin: “No court, federal, state or administrative, has accepted the challengers’ position that Mr. Obama is not a “natural born Citizen” due to the acknowledged fact that his father was born in Kenya and was a British citizen by virtue of the then applicable British Nationality Act. Nor has the fact that Obama had, or may have had, dual citizenship at the time of his birth and thereafter been held to deny him the status of natural born. It is unnecessary to reinvent the wheel here. … The petitioners’ legal position on this issue, however well intentioned, has no merit in law. Thus, accepting for the point of this issue that Mr. Obama was born in Hawaii, he is a ‘natural born Citizen’ regardless of the status of his father.” April 10, 2012
http://www.scribd.com/doc/88936737/2012-04-10-NJ-Purpura-Moran-v-Obama-Initial-Decision-of-ALJ-Masin-Apuzzo

Allen v. Obama, Arizona Superior Court Judge Richard E. Gordon: “Arizona courts are bound by United States Supreme Court precedent in construing the United States Constitution, and this precedent fully supports that President Obama is a natural born citizen under the Constitution and thus qualified to hold the office of President. Contrary to Plaintiff’s assertion, Minor v. Happersett, 88 U.S. 162 (1874), does not hold otherwise.”—Pima County Superior Court, Tuscon, Arizona, March 7, 2012
http://www.scribd.com/doc/84531299/AZ-2012-03-07-Allen-v-Obama-C20121317-ORDER-Dismissing-Complaint

Not a single court appears to have ruled on the merits however. From what we've seen at least, they've all pretty much skirted the constitutional issue entirely or ruled contrary to evidence or ruled / dismissed on real or imagined procedural grounds A lot. A dismissal or ruling on procedural grounds does not reach the merits of the case and is therefore not precedent concerning same. Since his daddy was not an American citizen it would seem most improbable ( to put it mildly) that a properly constituted court could find him a qualified NBC, Magic not operating of course. (Even his basic citizenship status is unknowable as long as he keeps hiding his USA immigration, Indonesian citizenship, UK citizenship, Kenyan citizenship, birth, selective service. and passport records. ).