Hovde Group Upgrades GBank Financial (NASDAQ:GBFH) to “Strong-Buy”

GBank Financial (NASDAQ:GBFH) was upgraded by stock analysts at Hovde Group to a “strong-buy” rating in a report issued on Tuesday, Marketbeat Ratings reports. The firm currently has a $44.00 target price on the stock. Hovde Group’s target price would suggest a potential upside of 37.41% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GBank Financial in a research report on Wednesday, October 8th. Jones Trading reiterated a “buy” rating and issued a $55.00 price objective on shares of GBank Financial in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $49.50.

GBank Financial Price Performance

Shares of GBFH opened at $32.02 on Tuesday. The company has a market cap of $460.45 million, a P/E ratio of 24.63 and a beta of -1.02. The company has a 50-day moving average price of $34.31. GBank Financial has a one year low of $27.30 and a one year high of $45.00. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17.

GBank Financial (NASDAQ:GBFH) last issued its earnings results on Wednesday, November 12th. The company reported $0.30 earnings per share (EPS) for the quarter. GBank Financial had a net margin of 17.89% and a return on equity of 13.94%. The company had revenue of $20.18 million for the quarter.

Insider Buying and Selling

In other GBank Financial news, Chairman Edward Michael Nigro bought 800 shares of GBank Financial stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $34.06 per share, with a total value of $27,248.00. Following the completion of the transaction, the chairman owned 16,700 shares in the company, valued at $568,802. The trade was a 5.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Tara Allyce Campbell sold 3,867 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $35.61, for a total transaction of $137,703.87. Following the completion of the transaction, the chief operating officer owned 3,733 shares in the company, valued at $132,932.13. This trade represents a 50.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 37.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in shares of GBank Financial in the second quarter valued at approximately $28,000. Legal & General Group Plc bought a new stake in shares of GBank Financial during the 2nd quarter valued at $29,000. Russell Investments Group Ltd. bought a new stake in shares of GBank Financial during the 3rd quarter valued at $30,000. Ameritas Investment Partners Inc. acquired a new stake in shares of GBank Financial during the 2nd quarter worth $33,000. Finally, Quantbot Technologies LP acquired a new position in GBank Financial in the second quarter valued at about $69,000.

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.