Guaranty Bancorp (GBNK) Stock Rating Lowered by Piper Jaffray Companies
Piper Jaffray Companies lowered shares of Guaranty Bancorp (NASDAQ:GBNK) from an overweight rating to a neutral rating in a research report released on Tuesday, July 11th, MarketBeat Ratings reports. Piper Jaffray Companies currently has $28.00 price target on the financial services provider’s stock.
A number of other research analysts have also commented on the stock. DA Davidson began coverage on shares of Guaranty Bancorp in a research note on Friday, June 30th. They issued a buy rating and a $32.00 price objective on the stock. Keefe, Bruyette & Woods set a $26.00 price objective on shares of Guaranty Bancorp and gave the company a buy rating in a research note on Saturday, June 24th. Zacks Investment Research lowered shares of Guaranty Bancorp from a buy rating to a hold rating in a research note on Wednesday, June 21st. ValuEngine upgraded shares of Guaranty Bancorp from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Hovde Group lifted their price objective on shares of Guaranty Bancorp from $26.50 to $27.50 and gave the company an outperform rating in a research note on Thursday, April 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $28.90.
Guaranty Bancorp (GBNK) opened at 26.45 on Tuesday. Guaranty Bancorp has a 52-week low of $16.35 and a 52-week high of $28.10. The company has a market cap of $738.43 million, a price-to-earnings ratio of 21.49 and a beta of 0.98. The company’s 50-day moving average price is $26.68 and its 200-day moving average price is $25.17.
Guaranty Bancorp (NASDAQ:GBNK) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $35.84 million for the quarter, compared to analyst estimates of $34.99 million. Guaranty Bancorp had a net margin of 23.00% and a return on equity of 10.23%. Equities research analysts expect that Guaranty Bancorp will post $1.46 EPS for the current fiscal year.
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In related news, CEO Paul W. Taylor sold 15,676 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $26.58, for a total transaction of $416,668.08. Following the sale, the chief executive officer now owns 106,577 shares of the company’s stock, valued at $2,832,816.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael B. Hobbs sold 7,948 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $26.63, for a total transaction of $211,655.24. Following the sale, the insider now directly owns 40,516 shares in the company, valued at approximately $1,078,941.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,451 shares of company stock worth $1,102,999. Company insiders own 8.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in GBNK. Comerica Bank increased its stake in Guaranty Bancorp by 0.7% in the second quarter. Comerica Bank now owns 30,548 shares of the financial services provider’s stock worth $816,000 after buying an additional 205 shares in the last quarter. Legal & General Group Plc increased its stake in Guaranty Bancorp by 27.9% in the second quarter. Legal & General Group Plc now owns 6,053 shares of the financial services provider’s stock worth $164,000 after buying an additional 1,320 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Guaranty Bancorp by 22.0% in the second quarter. Bank of New York Mellon Corp now owns 141,034 shares of the financial services provider’s stock worth $3,836,000 after buying an additional 25,456 shares in the last quarter. SG Americas Securities LLC bought a new stake in Guaranty Bancorp during the second quarter worth approximately $110,000. Finally, Rhumbline Advisers increased its stake in Guaranty Bancorp by 28.5% in the second quarter. Rhumbline Advisers now owns 27,962 shares of the financial services provider’s stock worth $761,000 after buying an additional 6,194 shares in the last quarter. 68.70% of the stock is currently owned by hedge funds and other institutional investors.
About Guaranty Bancorp
Guaranty Bancorp is a bank holding company. The Company’s bank subsidiary is Guaranty Bank and Trust Company (the Bank). As of December 31, 2016, the Company operated 32 branches and two investment management firms, Private Capital Management LLC (PCM) and Cherry Hills Investment Advisors Inc (CHIA), in Colorado through the Bank.
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