GBank Financial (NASDAQ:GBFH) CEO Jeffrey Newgard Buys 19,198 Shares

GBank Financial Holdings Inc. (NASDAQ:GBFH) CEO Jeffrey Newgard acquired 19,198 shares of GBank Financial stock in a transaction that occurred on Monday, August 3rd. The shares were purchased at an average cost of $21.75 per share, for a total transaction of $417,556.50. Following the purchase, the chief executive officer directly owned 12,889 shares of the company’s stock, valued at approximately $280,335.75. This trade represents a -304.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

GBank Financial Trading Down 4.9%

GBFH stock traded down $1.06 during midday trading on Wednesday, hitting $20.39. The stock had a trading volume of 189,628 shares, compared to its average volume of 71,331. The company’s 50-day moving average price is $29.71 and its 200 day moving average price is $29.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $295.04 million, a PE ratio of 15.93 and a beta of 0.05. GBank Financial Holdings Inc. has a 12-month low of $19.63 and a 12-month high of $42.23.

GBank Financial (NASDAQ:GBFH) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.38 earnings per share 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 analysts’ expectations of $21.80 million. On average, equities research analysts predict that GBank Financial Holdings Inc. will post 1.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GBank Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new stake in shares of GBank Financial during the 2nd quarter worth about $151,000. Legal & General Group Plc purchased a new position in GBank Financial in the second quarter valued at approximately $29,000. Rhumbline Advisers acquired a new position in GBank Financial during the second quarter valued at approximately $334,000. New York State Common Retirement Fund acquired a new position in GBank Financial during the second quarter valued at approximately $103,000. Finally, Quantbot Technologies LP purchased a new stake in GBank Financial during the second quarter worth approximately $69,000.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Raymond James Financial began coverage on GBank Financial in a research note on Friday, May 29th. They issued an “outperform” rating and a $35.00 price target on the stock. Wall Street Zen upgraded shares of GBank Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. JonesTrading decreased their target price on shares of GBank Financial from $50.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Zacks Research downgraded shares of GBank Financial from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Finally, Weiss Ratings reaffirmed 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.33.

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.