Franklin Resources Inc. Holds Holdings in Guaranty Bancorp (GBNK)
Franklin Resources Inc. maintained its position in Guaranty Bancorp (NASDAQ:GBNK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,061,519 shares of the financial services provider’s stock at the close of the 2nd quarter. Franklin Resources Inc. owned 7.38% of Guaranty Bancorp worth $56,072,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Guaranty Bancorp by 30.2% during the second quarter. JPMorgan Chase & Co. now owns 63,327 shares of the financial services provider’s stock valued at $1,723,000 after purchasing an additional 14,702 shares in the last quarter. Swiss National Bank acquired a new stake in Guaranty Bancorp during the second quarter valued at approximately $1,093,000. Principal Financial Group Inc. acquired a new stake in Guaranty Bancorp during the second quarter valued at approximately $6,319,000. Airain ltd acquired a new stake in Guaranty Bancorp during the second quarter valued at approximately $221,000. Finally, Paradigm Asset Management Co. LLC acquired a new stake in Guaranty Bancorp during the second quarter valued at approximately $454,000. 70.51% of the stock is currently owned by institutional investors.
A number of research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Guaranty Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods set a $26.00 price objective on shares of Guaranty Bancorp and gave the stock a “buy” rating in a research report on Saturday, June 24th. BidaskClub cut shares of Guaranty Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. DA Davidson initiated coverage on shares of Guaranty Bancorp in a research report on Friday, June 30th. They set a “buy” rating and a $32.00 target price for the company. Finally, Zacks Investment Research cut shares of Guaranty Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Guaranty Bancorp presently has a consensus rating of “Hold” and an average price target of $28.90.
Shares of Guaranty Bancorp (NASDAQ:GBNK) opened at 26.12 on Friday. The company has a market cap of $729.36 million, a PE ratio of 21.22 and a beta of 0.98. Guaranty Bancorp has a 12 month low of $16.95 and a 12 month high of $28.10. The firm’s 50 day moving average is $25.99 and its 200 day moving average is $25.48.
Guaranty Bancorp (NASDAQ:GBNK) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The firm had revenue of $35.84 million during the quarter, compared to the consensus estimate of $34.99 million. Guaranty Bancorp had a net margin of 23.00% and a return on equity of 10.23%. On average, equities analysts predict that Guaranty Bancorp will post $1.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 18th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Wednesday, August 16th. Guaranty Bancorp’s payout ratio is currently 40.98%.
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In other Guaranty Bancorp news, Director Stephen D. Joyce purchased 2,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average price of $25.79 per share, with a total value of $51,580.00. Following the completion of the purchase, the director now owns 62,739 shares of the company’s stock, valued at $1,618,038.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Cathy P. Goss sold 3,793 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $26.82, for a total transaction of $101,728.26. Following the transaction, the executive vice president now directly owns 66,292 shares of the company’s stock, valued at approximately $1,777,951.44. The disclosure for this sale can be found here. Insiders have sold 41,451 shares of company stock valued at $1,102,999 in the last ninety days. Insiders own 8.40% of the company’s stock.
Guaranty Bancorp Company Profile
Guaranty Bancorp is a bank holding company. The Company’s bank subsidiary is Guaranty Bank and Trust Company (the Bank). As of December 31, 2016, the Company operated 32 branches and two investment management firms, Private Capital Management LLC (PCM) and Cherry Hills Investment Advisors Inc (CHIA), in Colorado through the Bank.
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