Guaranty Bancorp (GBNK) Position Lifted by Broadview Advisors LLC
Broadview Advisors LLC boosted its position in Guaranty Bancorp (NASDAQ:GBNK) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 352,417 shares of the financial services provider’s stock after acquiring an additional 2,400 shares during the quarter. Guaranty Bancorp accounts for 1.4% of Broadview Advisors LLC’s holdings, making the stock its 24th largest holding. Broadview Advisors LLC owned 1.26% of Guaranty Bancorp worth $9,586,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new position in Guaranty Bancorp during the second quarter valued at approximately $21,660,000. Stifel Financial Corp lifted its stake in Guaranty Bancorp by 10.5% during the second quarter. Stifel Financial Corp now owns 17,538 shares of the financial services provider’s stock worth $476,000 after purchasing an additional 1,663 shares during the last quarter. Voya Investment Management LLC bought a new stake in Guaranty Bancorp during the second quarter worth $279,000. Dimensional Fund Advisors LP lifted its stake 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 worth $18,528,000 after purchasing an additional 43,006 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake 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 worth $14,479,000 after purchasing an additional 112,700 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.
In related news, EVP Cathy P. Goss sold 3,793 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $26.82, for a total value of $101,728.26. Following the transaction, the executive vice president now directly owns 66,292 shares in the company, valued at $1,777,951.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen D. Joyce acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of $25.79 per share, for a total transaction of $51,580.00. Following the completion of the transaction, the director now owns 62,739 shares of the company’s stock, valued at approximately $1,618,038.81. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 41,451 shares of company stock valued at $1,102,999. Corporate insiders own 8.40% of the company’s stock.
A number of brokerages have weighed in on GBNK. Piper Jaffray Companies downgraded Guaranty Bancorp from an “overweight” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Tuesday, July 11th. Keefe, Bruyette & Woods cut Guaranty Bancorp from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $26.00 to $27.00 in a report on Thursday, July 20th. BidaskClub cut Guaranty Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded Guaranty Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Friday, July 21st. Finally, DA Davidson initiated coverage on Guaranty Bancorp in a research report on Friday, June 30th. They set a “buy” rating and a $32.00 price objective for the company. One research 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 company has a consensus rating of “Hold” and an average price target of $28.70.
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Guaranty Bancorp (NASDAQ GBNK) traded down 0.625% during trading on Tuesday, reaching $27.825. 40,346 shares of the company were exchanged. The company has a market capitalization of $776.82 million, a P/E ratio of 22.604 and a beta of 1.00. Guaranty Bancorp has a one year low of $17.00 and a one year high of $28.25. The firm’s 50-day moving average is $26.15 and its 200 day moving average is $25.72.
Guaranty Bancorp (NASDAQ:GBNK) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.36 earnings per share for the quarter, topping 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 business had revenue of $35.84 million for the quarter, compared to analyst estimates of $34.99 million. On average, analysts anticipate that Guaranty Bancorp will post $1.46 EPS for the current fiscal year.
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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