Great Western Bancorp (GWB) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Great Western Bancorp (NYSE:GWB) from a hold rating to a buy rating in a research report released on Tuesday. The brokerage currently has $48.00 price objective on the bank’s stock.
According to Zacks, “Great Western Bancorp Inc. is a full-service regional bank holding company. It focuses on business and agribusiness banking, complemented by retail banking and wealth management services. The Bank’s loan portfolio consists primarily of business loans, comprised of commercial and industrial, and agribusiness loans. It also provides a range of deposit and loan products to its retail customers through several channels, including its branch network, online banking system, mobile banking applications and customer care centers. The Bank provides wealth management solutions consisting of financial planning, private banking, investment management, and trust services. Great Western Bancorp, Inc. is headquartered in Sioux Falls, South Dakota. “
A number of other analysts have also weighed in on GWB. Keefe, Bruyette & Woods reiterated a buy rating and issued a $47.00 target price on shares of Great Western Bancorp in a research note on Thursday, December 21st. Stephens reiterated a buy rating and issued a $49.00 target price on shares of Great Western Bancorp in a research note on Friday, January 26th. Royal Bank of Canada reiterated a buy rating and issued a $50.00 target price on shares of Great Western Bancorp in a research note on Thursday, January 25th. FBR & Co lowered Great Western Bancorp from a buy rating to a neutral rating and set a $44.00 target price on the stock. in a research note on Tuesday, October 31st. Finally, ValuEngine upgraded Great Western Bancorp from a hold rating to a buy rating in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $46.70.
Great Western Bancorp (NYSE:GWB) last released its earnings results on Thursday, January 25th. The bank reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.09. Great Western Bancorp had a return on equity of 8.66% and a net margin of 27.04%. The business had revenue of $117.30 million for the quarter, compared to analyst estimates of $118.85 million. During the same quarter last year, the firm posted $0.63 earnings per share. sell-side analysts forecast that Great Western Bancorp will post 2.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Friday, February 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Thursday, February 8th. Great Western Bancorp’s payout ratio is 31.37%.
In other news, EVP Stephen John Ulenberg sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $41.81, for a total transaction of $125,430.00. Following the transaction, the executive vice president now owns 12,736 shares of the company’s stock, valued at approximately $532,492.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter Robert Chapman sold 2,265 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $40.57, for a total value of $91,891.05. Following the transaction, the chief financial officer now directly owns 16,964 shares in the company, valued at approximately $688,229.48. The disclosure for this sale can be found here. Insiders have sold a total of 6,775 shares of company stock worth $285,271 in the last three months. Corporate insiders own 0.33% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Inc. grew its position in shares of Great Western Bancorp by 68.7% during the 4th quarter. Advisor Group Inc. now owns 3,221 shares of the bank’s stock worth $128,000 after buying an additional 1,312 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Great Western Bancorp by 36.3% during the 3rd quarter. Victory Capital Management Inc. now owns 5,379 shares of the bank’s stock worth $222,000 after buying an additional 1,434 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Great Western Bancorp during the 4th quarter worth $229,000. Xact Kapitalforvaltning AB bought a new position in shares of Great Western Bancorp during the 4th quarter worth $243,000. Finally, CIBC Asset Management Inc bought a new position in shares of Great Western Bancorp during the 4th quarter worth $289,000.
About Great Western Bancorp
Great Western Bancorp, Inc is a full-service regional bank holding company. The Company is the holding company of the Great Western Bank (the Bank). As of September 30, 2016, the Company served customers through 173 branches in various markets in Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.
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