GBank Financial (NASDAQ:GBFH) CEO Jeffrey Newgard Purchases 13,065 Shares of Stock

GBank Financial Holdings Inc. (NASDAQ:GBFH) CEO Jeffrey Newgard bought 13,065 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average price of $21.54 per share, with a total value of $281,420.10. Following the transaction, the chief executive officer directly owned 21,661 shares in the company, valued at $466,577.94. The trade was a 151.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

GBank Financial Stock Down 4.9%

Shares of GBFH opened at $20.39 on Thursday. The firm has a market cap of $295.04 million, a P/E ratio of 15.93 and a beta of 0.05. The stock has a 50 day simple moving average of $29.53 and a two-hundred day simple moving average of $29.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. GBank Financial Holdings Inc. has a 1 year low of $19.63 and a 1 year high of $42.23.

GBank Financial (NASDAQ:GBFH) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.10). The business had revenue of $21.95 million for the quarter, compared to the consensus estimate of $21.80 million. GBank Financial had a net margin of 15.44% and a return on equity of 14.62%. On average, analysts forecast that GBank Financial Holdings Inc. will post 1.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG raised its holdings in GBank Financial by 6.9% during the 4th quarter. Deutsche Bank AG now owns 6,504 shares of the company’s stock valued at $220,000 after buying an additional 417 shares during the last quarter. Invesco Ltd. boosted its position in GBank Financial by 12.5% during the 4th quarter. Invesco Ltd. now owns 6,322 shares of the company’s stock valued at $214,000 after buying an additional 700 shares during the period. State of Alaska Department of Revenue purchased a new stake in GBank Financial during the 4th quarter valued at $25,000. Russell Investments Group Ltd. bought a new stake in GBank Financial in the 3rd quarter worth $30,000. Finally, BNP Paribas Financial Markets bought a new stake in GBank Financial in the 2nd quarter worth $28,000.

Analyst Ratings Changes

A number of brokerages recently commented on GBFH. Wall Street Zen upgraded shares of GBank Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Zacks Research downgraded shares of GBank Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of GBank Financial in a research report on Friday, July 24th. JonesTrading reduced their price objective on GBank Financial from $50.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Raymond James Financial began coverage on GBank Financial in a report on Friday, May 29th. They issued an “outperform” rating and a $35.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.33.

Key GBank Financial News

Here are the key news stories impacting GBank Financial this week:

• Positive Sentiment: CEO Jeffrey K. Newgard purchased 13,065 shares at an average of $21.54, investing approximately $281,420. The purchase increased his reported ownership to 21,661 shares. SEC filing
• Positive Sentiment: Newgard also reported buying 19,198 shares at an average price of $21.75, representing an investment of approximately $417,557. The filings indicate significant additional insider exposure to GBFH. SEC filing
• Positive Sentiment: Director Timothy P. Herbst acquired 10,000 shares at $21.50 per share, investing $215,000 and increasing his holding to 327,126 shares. SEC filing
• Positive Sentiment: CEO Edward Michael Nigro purchased 9,200 shares at an average of $21.51, spending approximately $197,892. His direct ownership rose to 628,830 shares. SEC filing
• Positive Sentiment: Insider Todd Anthony Nigro bought 5,000 shares at $21.07, adding approximately $105,350 to his position and increasing his ownership to 286,494 shares. SEC filing

GBank Financial Company Profile

GBank Financial Holdings Inc operates as a bank holding company for GBank which provides banking services to commercial and consumer customers principally in Nevada. The company offers business and personal checking and savings accounts. GBank Financial Holdings Inc is based in Las Vegas, Nevada.