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

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

Several other research firms have also commented on GBFH. JonesTrading restated a “buy” rating and issued a $50.00 price objective on shares of GBank Financial in a research note on Thursday, April 30th. Wall Street Zen raised GBank Financial from a “strong sell” rating to a “sell” rating in a report on Saturday. Brean Capital began coverage on GBank Financial in a research report on Thursday, March 12th. They issued a “buy” rating for the company. Weiss Ratings cut GBank Financial from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. 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 on the stock. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average 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. GBank Financial has a 12 month low of $23.87 and a 12 month 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 current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The company has a 50 day simple moving average of $29.34 and a two-hundred day simple moving average of $30.61.

GBank Financial (NASDAQ:GBFH) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.19). The business 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%. On average, research analysts expect that GBank Financial will post 2.03 earnings per share for the current year.

Insider Buying and Selling at GBank Financial

In other news, Director Charles William Jr. Griege bought 24,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $29.00 per share, with a total value of $696,000.00. Following the acquisition, the director owned 368,289 shares of the company’s stock, valued at approximately $10,680,381. This represents a 6.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC increased its holdings in GBank Financial by 37.0% in the 4th quarter. Kennedy Capital Management LLC now owns 126,509 shares of the company’s stock valued at $4,287,000 after acquiring an additional 34,158 shares during the last quarter. T3 Companies LLC bought a new position in shares of GBank Financial during the 4th quarter valued at about $888,000. JCSD Capital LLC boosted its holdings in shares of GBank Financial by 54.2% during the 4th quarter. JCSD Capital LLC now owns 62,939 shares of the company’s stock valued at $2,133,000 after purchasing an additional 22,131 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its position in shares of GBank Financial by 19.6% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 118,000 shares of the company’s stock valued at $3,158,000 after purchasing an additional 19,311 shares in the last quarter. Finally, Emerald Advisers LLC grew its position in shares of GBank Financial by 223.2% during the first quarter. Emerald Advisers LLC now owns 29,227 shares of the company’s stock valued at $782,000 after purchasing an additional 20,185 shares in the last quarter.

About GBank Financial

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.