Zacks Investment Research Downgrades Guaranty Bancorp (GBNK) to Hold
Guaranty Bancorp (NASDAQ:GBNK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “GUARANTY BANCORP is a bank holding company with one wholly owned bank subsidiary, Guaranty Bank and Trust Company. Guaranty Bank and Trust Company provides banking and other financial services, including real estate, construction, commercial and industrial, energy, consumer and agriculture loans, to consumers and small and medium-sized businesses, including the owners and employees of those businesses, through 36 community banking branches in the Colorado Front Range. Guaranty Bank also provides trust services, including personal trust administration, estate settlement, investment management accounts and self-directed IRAs. “
A number of other brokerages also recently commented on GBNK. ValuEngine raised Guaranty Bancorp from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods set a $26.00 price target on Guaranty Bancorp and gave the company a “buy” rating in a report on Saturday, June 24th. BidaskClub downgraded Guaranty Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. DA Davidson assumed coverage on Guaranty Bancorp in a report on Friday, June 30th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Piper Jaffray Companies downgraded Guaranty Bancorp from an “overweight” rating to a “neutral” rating and set a $28.00 price target for the company. in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.90.
Shares of Guaranty Bancorp (NASDAQ:GBNK) traded down 1.34% during trading on Friday, reaching $25.75. 735,294 shares of the company traded hands. The company has a market capitalization of $718.89 million, a price-to-earnings ratio of 20.92 and a beta of 0.98. The stock’s 50 day moving average is $25.95 and its 200 day moving average is $25.48. Guaranty Bancorp has a 1-year low of $16.95 and a 1-year high of $28.10.
Guaranty Bancorp (NASDAQ:GBNK) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Guaranty Bancorp had a return on equity of 10.23% and a net margin of 23.00%. The business had revenue of $35.84 million during the quarter, compared to analyst estimates of $34.99 million. On average, analysts forecast that Guaranty Bancorp will post $1.46 EPS for the current year.
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In other Guaranty Bancorp news, insider Michael B. Hobbs sold 7,948 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $26.63, for a total transaction of $211,655.24. Following the transaction, the insider now owns 40,516 shares of the company’s stock, valued at approximately $1,078,941.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Cathy P. Goss sold 3,793 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $26.82, for a total value of $101,728.26. Following the transaction, the executive vice president now directly owns 66,292 shares in the company, valued at approximately $1,777,951.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,451 shares of company stock worth $1,102,999. 8.40% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Guaranty Bancorp during the 2nd quarter worth approximately $110,000. Legal & General Group Plc lifted its holdings in Guaranty Bancorp by 27.9% during the 2nd quarter. Legal & General Group Plc now owns 6,053 shares of the financial services provider’s stock worth $164,000 after buying an additional 1,320 shares during the last quarter. Airain ltd bought a new position in Guaranty Bancorp during the 2nd quarter worth approximately $221,000. Voya Investment Management LLC bought a new position in Guaranty Bancorp during the 2nd quarter worth approximately $279,000. Finally, American International Group Inc. lifted its holdings in Guaranty Bancorp by 20.1% during the 1st quarter. American International Group Inc. now owns 10,363 shares of the financial services provider’s stock worth $252,000 after buying an additional 1,731 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors.
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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