Zacks Investment Research Upgrades Guaranty Bancorp (GBNK) to “Buy”
Guaranty Bancorp (NASDAQ:GBNK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $29.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.43% from the stock’s previous close.
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. “
Several other equities research analysts also recently weighed in on GBNK. ValuEngine raised shares of Guaranty Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Keefe, Bruyette & Woods set a $26.00 price objective on shares of Guaranty Bancorp and gave the stock a “buy” rating in a report on Saturday, June 24th. DA Davidson initiated coverage on shares of Guaranty Bancorp in a report on Friday, June 30th. They issued a “buy” rating and a $32.00 price objective for the company. Piper Jaffray Companies downgraded shares of Guaranty Bancorp from an “overweight” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Guaranty Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Guaranty Bancorp currently has an average rating of “Hold” and a consensus target price of $28.70.
Guaranty Bancorp (NASDAQ:GBNK) opened at 26.50 on Monday. The stock has a market cap of $739.83 million, a P/E ratio of 21.53 and a beta of 0.98. Guaranty Bancorp has a one year low of $16.95 and a one year high of $28.10. The stock has a 50 day moving average of $25.94 and a 200-day moving average of $25.52.
Guaranty Bancorp (NASDAQ:GBNK) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $35.84 million during the quarter, compared to the consensus estimate of $34.99 million. Guaranty Bancorp had a net margin of 23.00% and a return on equity of 10.23%. Analysts anticipate that Guaranty Bancorp will post $1.46 EPS for the current year.
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In other Guaranty Bancorp news, EVP Cathy P. Goss sold 3,793 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $26.82, for a total value of $101,728.26. Following the completion of the sale, the executive vice president now directly owns 66,292 shares of the company’s stock, valued at approximately $1,777,951.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael B. Hobbs sold 7,948 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $26.63, for a total transaction of $211,655.24. Following the completion of the sale, the insider now directly owns 40,516 shares of the company’s stock, valued at $1,078,941.08. 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 three months. 8.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Guaranty Bancorp in the 2nd quarter valued at about $110,000. Legal & General Group Plc lifted 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 stake in Guaranty Bancorp in the 2nd quarter valued at about $221,000. Voya Investment Management LLC acquired a new stake in Guaranty Bancorp in the 2nd quarter valued at about $279,000. Finally, American International Group Inc. lifted 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. 70.51% of the stock is owned by 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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