Great Western Bancorp (GWB) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of Great Western Bancorp (NYSE:GWB) from a buy rating to a hold rating in a research report report published on Wednesday morning.
According to Zacks, “Great Western Bancorp Inc. is a full-service regional bank holding company. It focuses on business and agribusiness banking, complemented by retail banking and wealth management services. The Bank’s loan portfolio consists primarily of business loans, comprised of commercial and industrial, and agribusiness loans. It also provides a range of deposit and loan products to its retail customers through several channels, including its branch network, online banking system, mobile banking applications and customer care centers. The Bank provides wealth management solutions consisting of financial planning, private banking, investment management, and trust services. Great Western Bancorp, Inc. is headquartered in Sioux Falls, South Dakota. “
A number of other research firms have also weighed in on GWB. Piper Jaffray Companies reiterated a hold rating and issued a $40.00 price objective on shares of Great Western Bancorp in a research report on Friday, October 27th. ValuEngine upgraded shares of Great Western Bancorp from a hold rating to a buy rating in a research report on Monday, December 4th. FBR & Co lowered shares of Great Western Bancorp from a buy rating to a neutral rating and set a $44.00 price objective on the stock. in a research report on Tuesday, October 31st. Keefe, Bruyette & Woods reiterated a buy rating and issued a $47.00 price objective on shares of Great Western Bancorp in a research report on Thursday, December 21st. Finally, B. Riley lowered shares of Great Western Bancorp from a buy rating to a neutral rating and set a $44.00 price objective on the stock. in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $45.40.
Great Western Bancorp (NYSE:GWB) last announced its earnings results on Thursday, October 26th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $116.50 million for the quarter, compared to analyst estimates of $117.75 million. Great Western Bancorp had a net margin of 29.09% and a return on equity of 8.45%. During the same period last year, the firm posted $0.57 earnings per share. research analysts predict that Great Western Bancorp will post 2.78 EPS for the current year.
In other Great Western Bancorp news, CFO Peter Robert Chapman sold 2,265 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $40.57, for a total value of $91,891.05. Following the completion of the sale, the chief financial officer now owns 16,964 shares of the company’s stock, valued at $688,229.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Stephen John Ulenberg sold 3,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $41.80, for a total value of $125,400.00. Following the completion of the sale, the executive vice president now directly owns 14,136 shares of the company’s stock, valued at approximately $590,884.80. The disclosure for this sale can be found here. In the last three months, insiders sold 43,482 shares of company stock valued at $1,798,042. 0.23% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its stake in shares of Great Western Bancorp by 8.1% during the 3rd quarter. Macquarie Group Ltd. now owns 3,574,672 shares of the bank’s stock worth $147,562,000 after buying an additional 269,230 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Great Western Bancorp by 17.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,044,994 shares of the bank’s stock worth $125,698,000 after buying an additional 460,107 shares during the last quarter. State Street Corp raised its stake in shares of Great Western Bancorp by 10.6% during the 2nd quarter. State Street Corp now owns 2,699,137 shares of the bank’s stock worth $110,148,000 after buying an additional 259,443 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Great Western Bancorp by 13.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,796,874 shares of the bank’s stock worth $73,157,000 after buying an additional 210,971 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Great Western Bancorp by 23.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,618,372 shares of the bank’s stock worth $66,805,000 after buying an additional 302,290 shares during the last quarter.
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About Great Western Bancorp
Great Western Bancorp, Inc is a full-service regional bank holding company. The Company is the holding company of the Great Western Bank (the Bank). As of September 30, 2016, the Company served customers through 173 branches in various markets in Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.
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