GBank Financial (NASDAQ:GBFH) Raised to Hold at Wall Street Zen

GBank Financial (NASDAQ:GBFH) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

GBFH has been the topic of several other reports. Raymond James Financial started coverage on GBank Financial in a research report on Friday, May 29th. They set an “outperform” rating and a $35.00 target price on the stock. JonesTrading dropped their price target 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. Weiss Ratings restated a “hold (c)” rating on shares of GBank Financial in a report on Friday, July 24th. Finally, Zacks Research downgraded shares of GBank Financial from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.33.

GBank Financial Price Performance

NASDAQ GBFH opened at $21.46 on Friday. The firm’s fifty day simple moving average is $28.39 and its two-hundred day simple moving average is $29.07. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. GBank Financial has a 12-month low of $19.63 and a 12-month high of $42.23. The firm has a market capitalization of $310.53 million, a P/E ratio of 16.77 and a beta of 0.06.

GBank Financial (NASDAQ:GBFH) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.10). The business had revenue of $21.95 million for the quarter, compared to analysts’ expectations of $21.80 million. GBank Financial had a net margin of 15.44% and a return on equity of 14.42%. Analysts forecast that GBank Financial will post 1.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey K. Newgard purchased 19,198 shares of the stock in a transaction on Monday, August 3rd. The stock was bought at an average price of $21.75 per share, with a total value of $417,556.50. Following the transaction, the chief executive officer owned 12,889 shares in the company, valued at $280,335.75. The trade was a -304.30% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward Michael Nigro purchased 9,200 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were purchased at an average price of $21.51 per share, for a total transaction of $197,892.00. Following the purchase, the chief executive officer owned 628,830 shares in the company, valued at approximately $13,526,133.30. The trade was a 1.48% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 109,463 shares of company stock worth $2,554,969 over the last three months. Corporate insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GBFH. Legal & General Group Plc acquired a new stake in shares of GBank Financial during the second quarter worth about $30,000. BlackRock Inc. acquired a new position in GBank Financial in the 2nd quarter worth approximately $20,156,000. Deutsche Bank AG acquired a new position in GBank Financial in the 2nd quarter worth approximately $288,000. Bank of New York Mellon Corp purchased a new position in GBank Financial during the 2nd quarter worth approximately $703,000. Finally, Dimensional Fund Advisors LP raised its position in GBank Financial by 93.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,696 shares of the company’s stock worth $313,000 after buying an additional 5,657 shares during the last quarter.

About GBank Financial

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.