JPMorgan Chase & Co. Decreases Holdings in Guaranty Bancorp (GBNK)
JPMorgan Chase & Co. trimmed its position in shares of Guaranty Bancorp (NASDAQ:GBNK) by 12.0% during the third quarter, HoldingsChannel reports. The firm owned 55,714 shares of the financial services provider’s stock after selling 7,613 shares during the quarter. JPMorgan Chase & Co.’s holdings in Guaranty Bancorp were worth $1,536,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Guaranty Bancorp in the second quarter valued at $110,000. Legal & General Group Plc raised its stake in shares of Guaranty Bancorp by 27.9% in the second 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 in the last quarter. Voya Investment Management LLC acquired a new stake in shares of Guaranty Bancorp in the second quarter valued at $279,000. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Guaranty Bancorp in the second quarter valued at $333,000. Finally, Nationwide Fund Advisors raised its stake in shares of Guaranty Bancorp by 21.5% in the second quarter. Nationwide Fund Advisors now owns 14,293 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 2,534 shares in the last quarter. Institutional investors own 70.19% of the company’s stock.
Several brokerages have recently issued reports on GBNK. Zacks Investment Research upgraded Guaranty Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Friday, October 20th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $29.00 price objective on shares of Guaranty Bancorp in a research note on Thursday, October 19th. BidaskClub cut Guaranty Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, ValuEngine cut Guaranty Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $29.90.
Guaranty Bancorp (NASDAQ:GBNK) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $37.46 million during the quarter, compared to analyst estimates of $35.81 million. Guaranty Bancorp had a net margin of 24.17% and a return on equity of 11.20%. analysts anticipate that Guaranty Bancorp will post 1.46 EPS for the current year.
In related news, Director W Kirk Wycoff sold 50,000 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $29.15, for a total value of $1,457,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Keith Dickelman sold 5,000 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $29.02, for a total value of $145,100.00. The disclosure for this sale can be found here. Insiders sold 255,000 shares of company stock worth $7,390,202 in the last three months. 8.40% of the stock is currently owned by corporate insiders.
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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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