PNC Financial Services Group Inc. Takes Position in Guaranty Bancorp (GBNK)
PNC Financial Services Group Inc. bought a new position in Guaranty Bancorp (NASDAQ:GBNK) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 31,278 shares of the financial services provider’s stock, valued at approximately $851,000. PNC Financial Services Group Inc. owned about 0.11% of Guaranty Bancorp as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Guaranty Bancorp by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 874,734 shares of the financial services provider’s stock worth $21,300,000 after buying an additional 75,617 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Guaranty Bancorp by 11.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 638,189 shares of the financial services provider’s stock worth $15,540,000 after buying an additional 67,074 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Guaranty Bancorp in the 2nd quarter worth about $6,319,000. Geode Capital Management LLC increased its holdings in shares of Guaranty Bancorp by 7.3% in the 1st quarter. Geode Capital Management LLC now owns 204,446 shares of the financial services provider’s stock worth $4,978,000 after buying an additional 13,955 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its holdings in shares of Guaranty Bancorp by 690.4% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 177,886 shares of the financial services provider’s stock worth $4,838,000 after buying an additional 155,380 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.
In other Guaranty Bancorp news, EVP Cathy P. Goss sold 3,793 shares of Guaranty Bancorp stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $26.82, for a total transaction of $101,728.26. Following the transaction, the executive vice president now directly owns 66,292 shares of the company’s stock, valued at $1,777,951.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen D. Joyce bought 2,000 shares of Guaranty Bancorp stock in a transaction on Thursday, August 10th. The shares were purchased at an average cost of $25.79 per share, for a total transaction of $51,580.00. Following the completion of the purchase, the director now directly owns 62,739 shares of the company’s stock, valued at $1,618,038.81. The disclosure for this purchase can be found here. Insiders have sold 41,451 shares of company stock worth $1,102,999 over the last ninety days. 8.40% of the stock is owned by insiders.
Guaranty Bancorp (GBNK) opened at 28.35 on Wednesday. The company’s 50-day moving average is $26.57 and its 200 day moving average is $25.92. The company has a market capitalization of $791.48 million, a P/E ratio of 23.03 and a beta of 1.00. Guaranty Bancorp has a one year low of $17.00 and a one year high of $28.75.
Guaranty Bancorp (NASDAQ:GBNK) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.36 EPS for the quarter, topping 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 company had revenue of $35.84 million for the quarter, compared to the consensus estimate of $34.99 million. On average, equities analysts anticipate that Guaranty Bancorp will post $1.46 earnings per share for the current year.
A number of research firms have recently weighed in on GBNK. Piper Jaffray Companies downgraded shares of 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 downgraded shares of Guaranty Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $26.00 to $27.00 in a report on Thursday, July 20th. BidaskClub downgraded shares of Guaranty Bancorp from a “buy” rating to a “hold” rating in a report 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 target price on the stock in a report on Friday, July 21st. Finally, DA Davidson initiated coverage on shares of Guaranty Bancorp in a report on Friday, June 30th. They set a “buy” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Guaranty Bancorp presently has an average rating of “Hold” and an average target price of $28.70.
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Guaranty Bancorp Profile
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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