Great Western Bancorp, Inc. (GWB) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Great Western Bancorp, Inc. (NYSE:GWB) from a sell rating to a hold rating in a research report released on Thursday morning.
According to Zacks, “Great Western Bancorp Inc. is a full-service regional bank holding company. It focuses on business and agribusiness banking, complemented by retail banking and wealth management services. The Bank’s loan portfolio consists primarily of business loans, comprised of commercial and industrial, and agribusiness loans. It also provides a range of deposit and loan products to its retail customers through several channels, including its branch network, online banking system, mobile banking applications and customer care centers. The Bank provides wealth management solutions consisting of financial planning, private banking, investment management, and trust services. Great Western Bancorp, Inc. is headquartered in Sioux Falls, South Dakota. “
Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reissued a buy rating and issued a $47.00 price target on shares of Great Western Bancorp in a report on Tuesday, May 30th. Royal Bank Of Canada reissued a buy rating and issued a $48.00 price target on shares of Great Western Bancorp in a report on Friday, July 7th. Stephens set a $46.00 price target on Great Western Bancorp and gave the stock a buy rating in a report on Friday, July 28th. Piper Jaffray Companies reissued a hold rating and issued a $41.00 price target on shares of Great Western Bancorp in a report on Thursday, August 3rd. Finally, BidaskClub raised Great Western Bancorp from a sell rating to a hold rating in a report on Saturday, June 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $45.44.
Shares of Great Western Bancorp (GWB) opened at 36.54 on Thursday. Great Western Bancorp has a 52-week low of $31.51 and a 52-week high of $45.62. The stock’s 50 day moving average is $38.67 and its 200 day moving average is $40.66. The company has a market cap of $2.15 billion, a PE ratio of 15.30 and a beta of 1.69.
Great Western Bancorp (NYSE:GWB) last released its quarterly earnings results on Thursday, July 27th. The bank reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.03. Great Western Bancorp had a return on equity of 8.44% and a net margin of 28.55%. The company had revenue of $114.22 million during the quarter, compared to analyst estimates of $117.10 million. During the same period last year, the firm earned $0.59 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. Equities analysts forecast that Great Western Bancorp will post $2.43 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Friday, August 11th were paid a $0.20 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $0.80 annualized dividend and a yield of 2.19%. Great Western Bancorp’s payout ratio is currently 33.47%.
In related news, insider Bryan Leighton Kindopp sold 766 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $40.95, for a total value of $31,367.70. Following the completion of the transaction, the insider now directly owns 300 shares in the company, valued at $12,285. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Great Western Bancorp by 106.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,445 shares of the bank’s stock valued at $104,000 after buying an additional 1,263 shares during the last quarter. Flinton Capital Management LLC raised its position in Great Western Bancorp by 85.4% in the second quarter. Flinton Capital Management LLC now owns 3,056 shares of the bank’s stock valued at $125,000 after buying an additional 1,408 shares during the last quarter. Victory Capital Management Inc. raised its position in Great Western Bancorp by 2.7% in the first quarter. Victory Capital Management Inc. now owns 3,354 shares of the bank’s stock valued at $142,000 after buying an additional 88 shares during the last quarter. Strs Ohio raised its position in Great Western Bancorp by 7.1% in the second quarter. Strs Ohio now owns 4,500 shares of the bank’s stock valued at $183,000 after buying an additional 300 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its position in Great Western Bancorp by 85.8% in the second quarter. Riverhead Capital Management LLC now owns 4,830 shares of the bank’s stock valued at $197,000 after buying an additional 2,230 shares during the last quarter.
About Great Western Bancorp
Great Western Bancorp, Inc is a full-service regional bank holding company. The Company is the holding company of the Great Western Bank (the Bank). As of September 30, 2016, the Company served customers through 173 branches in various markets in Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.
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