Zacks Investment Research Lowers Great Western Bancorp (GWB) to Hold
Zacks Investment Research lowered shares of Great Western Bancorp (NYSE:GWB) from a buy rating to a hold rating in a research note issued to investors 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. “
GWB has been the subject of a number of other research reports. Deutsche Bank increased their target price on Great Western Bancorp from $43.00 to $44.00 and gave the company a buy rating in a research note on Wednesday, November 8th. Stephens reiterated a buy rating and issued a $49.00 target price on shares of Great Western Bancorp in a research note on Friday, January 26th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $51.00 target price on shares of Great Western Bancorp in a research note on Thursday, January 25th. ValuEngine lowered Great Western Bancorp from a buy rating to a hold rating in a research note on Thursday, November 9th. Finally, Royal Bank of Canada reiterated a buy rating and issued a $50.00 target price on shares of Great Western Bancorp in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Great Western Bancorp currently has an average rating of Hold and a consensus target price of $46.70.
Great Western Bancorp (NYSE:GWB) last posted its earnings results on Thursday, January 25th. The bank reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.09. Great Western Bancorp had a return on equity of 8.66% and a net margin of 27.04%. The business had revenue of $117.30 million during the quarter, compared to analyst estimates of $118.85 million. During the same quarter last year, the firm earned $0.63 earnings per share. analysts expect that Great Western Bancorp will post 2.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Thursday, February 8th. Great Western Bancorp’s dividend payout ratio is currently 34.48%.
In related news, EVP Stephen John Ulenberg sold 3,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $41.81, for a total value of $125,430.00. Following the completion of the transaction, the executive vice president now owns 12,736 shares of the company’s stock, valued at $532,492.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth James Karels sold 1,510 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $45.00, for a total value of $67,950.00. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in GWB. Advisor Group Inc. lifted its holdings in Great Western Bancorp by 68.7% during the 4th quarter. Advisor Group Inc. now owns 3,221 shares of the bank’s stock worth $128,000 after buying an additional 1,312 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Great Western Bancorp by 36.3% during the 3rd quarter. Victory Capital Management Inc. now owns 5,379 shares of the bank’s stock worth $222,000 after buying an additional 1,434 shares during the last quarter. Eqis Capital Management Inc. bought a new position in Great Western Bancorp during the 4th quarter worth approximately $229,000. Xact Kapitalforvaltning AB bought a new position in Great Western Bancorp during the 4th quarter worth approximately $243,000. Finally, CIBC Asset Management Inc bought a new position in Great Western Bancorp during the 4th quarter worth approximately $289,000.
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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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