GBank Financial (NASDAQ:GBFH) Raised to Hold at Zacks Research

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

GBFH has been the subject of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of GBank Financial in a report on Friday, July 24th. Wall Street Zen upgraded shares of GBank Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, JonesTrading reissued a “buy” rating and set a $35.00 price objective on shares of GBank Financial in a research report on Thursday, August 20th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, GBank Financial currently has an average rating of “Moderate Buy” and a consensus target price of $37.33.

GBank Financial Stock Performance

GBank Financial stock opened at $17.64 on Monday. GBank Financial has a twelve month low of $17.50 and a twelve month high of $42.23. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $256.13 million, a P/E ratio of 13.78 and a beta of 0.07. The stock’s 50 day moving average is $20.23 and its 200 day moving average is $26.06.

GBank Financial (NASDAQ:GBFH) last announced its quarterly earnings data 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 net margin of 15.44% and a return on equity of 14.42%. The company 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 will post 1.59 earnings per share for the current fiscal year.

Insider Activity

In other GBank Financial news, insider Todd Anthony Nigro acquired 5,000 shares of GBank Financial stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average cost of $21.07 per share, for a total transaction of $105,350.00. Following the acquisition, the insider owned 286,494 shares of the company’s stock, valued at $6,036,428.58. This represents a 1.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey K. Newgard bought 19,198 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was acquired at an average cost of $21.75 per share, with a total value of $417,556.50. Following the transaction, the chief executive officer owned 12,889 shares in the company, valued at $280,335.75. The trade was a -304.30% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 81,463 shares of company stock valued at $1,742,969. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of GBank Financial

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of GBank Financial during the second quarter valued at approximately $20,156,000. Kennedy Capital Management LLC boosted its holdings in GBank Financial by 37.0% in the fourth quarter. Kennedy Capital Management LLC now owns 126,509 shares of the company’s stock worth $4,287,000 after purchasing an additional 34,158 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its position in GBank Financial by 19.6% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 118,000 shares of the company’s stock worth $3,158,000 after purchasing an additional 19,311 shares during the period. Susquehanna International Group LLP bought a new stake in GBank Financial in the 2nd quarter worth approximately $1,700,000. Finally, T3 Companies LLC purchased a new stake in GBank Financial during the 4th quarter valued at $888,000.

GBank Financial Company Profile

GBank Financial, Inc is the bank holding company for GBank, a Nevada-based commercial bank headquartered in Las Vegas. The company focuses primarily on serving small and medium-sized businesses, commercial real estate investors, professionals and other business customers.

GBank provides commercial banking products and services that include business checking and savings accounts, commercial and industrial loans, commercial real estate financing, construction lending and Small Business Administration loans.