Zacks Research Upgrades GBank Financial (NASDAQ:GBFH) to Hold

GBank Financial (NASDAQ:GBFH) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on GBFH. Brean Capital initiated coverage on shares of GBank Financial in a research note on Thursday, March 12th. They set a “buy” rating on the stock. Wall Street Zen upgraded shares of GBank Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday. Weiss Ratings downgraded shares of GBank Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. JonesTrading reissued a “buy” rating and set a $50.00 price objective on shares of GBank Financial in a research note on Thursday, April 30th. Finally, Raymond James Financial initiated coverage on GBank Financial in a research note on Friday, May 29th. They issued an “outperform” rating and a $35.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, GBank Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

GBank Financial Stock Down 0.7%

Shares of GBFH stock opened at $30.31 on Monday. The company’s fifty day simple moving average is $29.34 and its two-hundred day simple moving average is $30.61. GBank Financial has a 52 week low of $23.87 and a 52 week high of $44.00. The stock has a market cap of $438.59 million, a P/E ratio of 24.64 and a beta of -0.12. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

GBank Financial (NASDAQ:GBFH) last issued its earnings results on Wednesday, April 29th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.19). The firm had revenue of $19.65 million during the quarter, compared to the consensus estimate of $22.10 million. GBank Financial had a return on equity of 14.46% and a net margin of 15.62%. Analysts predict that GBank Financial will post 2.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Charles William Jr. Griege bought 24,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $29.00 per share, with a total value of $696,000.00. Following the transaction, the director directly owned 368,289 shares in the company, valued at approximately $10,680,381. This trade represents a 6.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 32.40% of the stock is owned by insiders.

Institutional Trading of GBank Financial

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in GBank Financial by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 526,122 shares of the company’s stock valued at $20,661,000 after purchasing an additional 2,951 shares during the period. Chapin Davis Inc. boosted its stake in shares of GBank Financial by 5.1% during the fourth quarter. Chapin Davis Inc. now owns 219,350 shares of the company’s stock valued at $7,434,000 after purchasing an additional 10,600 shares in the last quarter. State Street Corp boosted its stake in shares of GBank Financial by 2.2% during the fourth quarter. State Street Corp now owns 190,548 shares of the company’s stock valued at $6,458,000 after purchasing an additional 4,111 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in GBank Financial by 37.0% during the fourth quarter. Kennedy Capital Management LLC now owns 126,509 shares of the company’s stock valued at $4,287,000 after buying an additional 34,158 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its stake in GBank Financial by 19.6% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 118,000 shares of the company’s stock worth $3,158,000 after buying an additional 19,311 shares in the last quarter.

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.