Great Western Bancorp (NYSE:GWB) Lifted to Hold at Zacks Investment Research
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 several other reports. Piper Jaffray Companies set a $36.00 price objective on shares of Great Western Bancorp and gave the stock a hold rating in a research note on Friday, July 19th. Royal Bank of Canada set a $38.00 price objective on shares of Great Western Bancorp and gave the stock a buy rating in a research note on Friday, July 26th. ValuEngine lowered shares of Great Western Bancorp from a hold rating to a sell rating in a research note on Friday, November 8th. Finally, TheStreet raised shares of Great Western Bancorp from a c+ rating to a b rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Great Western Bancorp presently has an average rating of Hold and a consensus target price of $37.00.
Great Western Bancorp (NYSE:GWB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. The company had revenue of $121.73 million during the quarter, compared to analyst estimates of $123.57 million. Great Western Bancorp had a net margin of 27.73% and a return on equity of 9.01%. During the same period in the previous year, the firm earned $0.72 earnings per share. Sell-side analysts expect that Great Western Bancorp will post 3.02 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.50%. The ex-dividend date is Thursday, November 14th. Great Western Bancorp’s payout ratio is 40.82%.
In other news, CEO Kenneth James Karels sold 35,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $36.00, for a total transaction of $1,260,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,662 shares of the company’s stock, valued at $959,832. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Edward Henning bought 2,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $28.92 per share, with a total value of $57,840.00. The disclosure for this purchase can be found here. 0.40% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. First Trust Advisors LP lifted its position in Great Western Bancorp by 47.1% in the 1st quarter. First Trust Advisors LP now owns 39,493 shares of the bank’s stock valued at $1,248,000 after acquiring an additional 12,644 shares in the last quarter. First National Bank of Omaha lifted its position in shares of Great Western Bancorp by 32.1% during the 2nd quarter. First National Bank of Omaha now owns 44,212 shares of the bank’s stock worth $1,579,000 after buying an additional 10,751 shares in the last quarter. Tributary Capital Management LLC lifted its position in shares of Great Western Bancorp by 29.7% during the 2nd quarter. Tributary Capital Management LLC now owns 564,357 shares of the bank’s stock worth $20,159,000 after buying an additional 129,280 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Great Western Bancorp by 12.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 21,060 shares of the bank’s stock worth $752,000 after buying an additional 2,300 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Great Western Bancorp by 1.8% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 22,733 shares of the bank’s stock worth $812,000 after buying an additional 400 shares in the last quarter. 99.17% of the stock is owned by hedge funds and other institutional investors.
About Great Western Bancorp
Great Western Bancorp, Inc operates as the bank holding company for Great Western Bank that provides business and agri-business banking, retail banking, and wealth management services in the United States. The company offers noninterest-bearing demand accounts, interest-bearing demand accounts, interest-bearing non-transaction accounts, time deposits, and corporate credit cards.
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