Zacks Investment Research Lowers Guaranty Bancorp (GBNK) to Hold
Zacks Investment Research lowered shares of Guaranty Bancorp (NASDAQ:GBNK) from a buy rating to a hold rating in a report issued on Friday morning.
According to Zacks, “GUARANTY BANCORP is a bank holding company with one wholly owned bank subsidiary, Guaranty Bank and Trust Company. Guaranty Bank and Trust Company provides banking and other financial services, including real estate, construction, commercial and industrial, energy, consumer and agriculture loans, to consumers and small and medium-sized businesses, including the owners and employees of those businesses, through 36 community banking branches in the Colorado Front Range. Guaranty Bank also provides trust services, including personal trust administration, estate settlement, investment management accounts and self-directed IRAs. “
A number of other equities research analysts have also issued reports on GBNK. Keefe, Bruyette & Woods set a $26.00 target price on Guaranty Bancorp and gave the company a buy rating in a research note on Saturday, June 24th. BidaskClub lowered Guaranty Bancorp from a hold rating to a sell rating in a research note on Tuesday, August 8th. DA Davidson assumed coverage on Guaranty Bancorp in a research note on Friday, June 30th. They issued a buy rating and a $32.00 target price on the stock. Piper Jaffray Companies lowered Guaranty Bancorp from an overweight rating to a neutral rating and set a $28.00 target price on the stock. in a research note on Tuesday, July 11th. Finally, ValuEngine raised Guaranty Bancorp from a hold rating to a buy rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $28.70.
Shares of Guaranty Bancorp (NASDAQ GBNK) opened at 26.35 on Friday. Guaranty Bancorp has a 12-month low of $16.95 and a 12-month high of $28.10. The firm has a market cap of $735.64 million, a PE ratio of 21.41 and a beta of 0.98. The company has a 50 day moving average price of $25.94 and a 200 day moving average price of $25.50.
Guaranty Bancorp (NASDAQ:GBNK) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Guaranty Bancorp had a return on equity of 10.23% and a net margin of 23.00%. The firm had revenue of $35.84 million for the quarter, compared to analyst estimates of $34.99 million. On average, analysts forecast that Guaranty Bancorp will post $1.46 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 18th were issued a $0.125 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $0.50 annualized dividend and a yield of 1.90%. Guaranty Bancorp’s dividend payout ratio (DPR) is presently 40.98%.
In other Guaranty Bancorp news, insider Michael B. Hobbs sold 7,948 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $26.63, for a total value of $211,655.24. Following the completion of the transaction, the insider now directly owns 40,516 shares in the company, valued at approximately $1,078,941.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul W. Taylor sold 15,676 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $26.58, for a total value of $416,668.08. Following the completion of the transaction, the chief executive officer now owns 106,577 shares of the company’s stock, valued at $2,832,816.66. The disclosure for this sale can be found here. Insiders sold a total of 41,451 shares of company stock valued at $1,102,999 over the last quarter. 8.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GBNK. SG Americas Securities LLC acquired a new position in Guaranty Bancorp in the 2nd quarter valued at $110,000. Legal & General Group Plc raised its holdings in Guaranty Bancorp by 27.9% in the 2nd quarter. Legal & General Group Plc now owns 6,053 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 1,320 shares during the last quarter. Airain ltd acquired a new position in Guaranty Bancorp in the 2nd quarter valued at $221,000. American International Group Inc. raised its holdings in Guaranty Bancorp by 20.1% in the 1st quarter. American International Group Inc. now owns 10,363 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 1,731 shares during the last quarter. Finally, TD Asset Management Inc. acquired a new position in Guaranty Bancorp in the 1st quarter valued at $276,000. Institutional investors own 70.51% of the company’s stock.
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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