Edward Michael Nigro Buys 9,200 Shares of GBank Financial (NASDAQ:GBFH) Stock

GBank Financial Holdings Inc. (NASDAQ:GBFH) CEO Edward Michael Nigro purchased 9,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was acquired at an average price of $21.51 per share, for a total transaction of $197,892.00. Following the completion of the purchase, the chief executive officer directly owned 628,830 shares of the company’s stock, valued at $13,526,133.30. This represents a 1.48% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

GBank Financial Stock Performance

NASDAQ:GBFH traded down $1.06 during mid-day trading on Wednesday, reaching $20.39. 189,628 shares of the company’s stock were exchanged, compared to its average volume of 71,331. GBank Financial Holdings Inc. has a one year low of $19.63 and a one year high of $42.23. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The business’s fifty day simple moving average is $29.71 and its two-hundred day simple moving average is $29.75. The firm has a market capitalization of $295.04 million, a PE ratio of 15.93 and a beta of 0.05.

GBank Financial (NASDAQ:GBFH) last announced its earnings results on Wednesday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.10). GBank Financial had a return on equity of 14.62% and a net margin of 15.44%.The business had revenue of $21.95 million for the quarter, compared to analyst estimates of $21.80 million. Analysts anticipate that GBank Financial Holdings Inc. will post 1.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GBFH. Raymond James Financial started coverage on GBank Financial in a research report on Friday, May 29th. They set an “outperform” rating and a $35.00 target price for the company. Wall Street Zen raised shares of GBank Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Zacks Research downgraded shares of GBank Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. JonesTrading dropped their target price on shares of GBank Financial from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of GBank Financial in a research report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.33.

Institutional Investors Weigh In On GBank Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in GBank Financial by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 526,122 shares of the company’s stock worth $20,661,000 after purchasing an additional 2,951 shares in the last quarter. Chapin Davis Inc. boosted its position in GBank Financial by 5.1% in the fourth quarter. Chapin Davis Inc. now owns 219,350 shares of the company’s stock valued at $7,434,000 after buying an additional 10,600 shares in the last quarter. State Street Corp boosted its position in GBank Financial by 2.2% in the fourth quarter. State Street Corp now owns 190,548 shares of the company’s stock valued at $6,458,000 after buying an additional 4,111 shares in the last quarter. Kennedy Capital Management LLC grew its stake in shares of GBank Financial by 37.0% during the fourth quarter. Kennedy Capital Management LLC now owns 126,509 shares of the company’s stock worth $4,287,000 after buying an additional 34,158 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its stake 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 worth $3,158,000 after buying an additional 19,311 shares during 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.