Guaranty Bancorp (GBNK) Expected to Post Quarterly Sales of $35.81 Million
Wall Street analysts predict that Guaranty Bancorp (NASDAQ:GBNK) will announce $35.81 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Guaranty Bancorp’s earnings. The lowest sales estimate is $35.70 million and the highest is $35.92 million. Guaranty Bancorp posted sales of $27.46 million in the same quarter last year, which suggests a positive year over year growth rate of 30.4%. The business is expected to report its next earnings report after the market closes on Wednesday, October 18th.
On average, analysts expect that Guaranty Bancorp will report full-year sales of $35.81 million for the current fiscal year, with estimates ranging from $142.30 million to $142.77 million. For the next fiscal year, analysts anticipate that the firm will report sales of $156.44 million per share, with estimates ranging from $155.68 million to $157.20 million. Zacks’ sales averages are an average based on a survey of analysts that follow Guaranty Bancorp.
Guaranty Bancorp (NASDAQ:GBNK) last issued its quarterly earnings data 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 net margin of 23.00% and a return on equity of 10.23%. The firm had revenue of $35.84 million during the quarter, compared to the consensus estimate of $34.99 million.
Several brokerages have commented on GBNK. Piper Jaffray Companies cut shares of Guaranty Bancorp from an “overweight” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Tuesday, July 11th. BidaskClub lowered shares of Guaranty Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Guaranty Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Friday, July 21st. Keefe, Bruyette & Woods cut shares of Guaranty Bancorp from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $26.00 to $27.00 in a report on Thursday, July 20th. Finally, DA Davidson assumed coverage on shares of Guaranty Bancorp in a report on Friday, June 30th. They set a “buy” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $28.70.
In other news, Director Stephen D. Joyce bought 2,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average cost of $25.79 per share, with a total value of $51,580.00. Following the acquisition, the director now directly owns 62,739 shares in the company, valued at $1,618,038.81. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael B. Hobbs sold 7,948 shares of Guaranty Bancorp stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $26.63, for a total transaction of $211,655.24. Following the transaction, 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 41,451 shares of company stock valued at $1,102,999 over the last three months. 8.40% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Guaranty Bancorp by 9.8% during the second quarter. Vanguard Group Inc. now owns 960,376 shares of the financial services provider’s stock worth $26,122,000 after buying an additional 85,642 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in Guaranty Bancorp during the second quarter valued at $21,660,000. Dimensional Fund Advisors LP grew its position in Guaranty Bancorp by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 681,195 shares of the financial services provider’s stock valued at $18,528,000 after buying an additional 43,006 shares during the period. RMB Capital Management LLC grew its position in Guaranty Bancorp by 16.9% during the first quarter. RMB Capital Management LLC now owns 555,253 shares of the financial services provider’s stock valued at $13,520,000 after buying an additional 80,100 shares during the period. Finally, Renaissance Technologies LLC grew its position in Guaranty Bancorp by 26.9% during the second quarter. Renaissance Technologies LLC now owns 532,320 shares of the financial services provider’s stock valued at $14,479,000 after buying an additional 112,700 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.
Guaranty Bancorp (NASDAQ:GBNK) traded up 0.90% during midday trading on Monday, hitting $28.05. The stock had a trading volume of 16,002 shares. Guaranty Bancorp has a 52-week low of $17.00 and a 52-week high of $28.25. The firm has a market capitalization of $783.10 million, a P/E ratio of 22.79 and a beta of 1.00. The firm has a 50-day moving average of $25.94 and a 200 day moving average of $25.52.
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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