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

Key Points

• Zacks Research upgraded GBank Financial from “strong sell” to “hold.” Despite the upgrade, the six-analyst consensus remains “Moderate Buy,” with an average price target of $37.33.
• GBFH opened at $17.64, near its 52-week low of $17.50 and well below its 52-week high of $42.23. The company’s latest quarterly earnings missed expectations, reporting $0.38 per share versus the $0.48 consensus estimate.
• Insiders have been buying shares: insiders purchased 81,463 shares worth approximately $1.74 million over the past three months, while company insiders own 32.4% of the stock.

GBank Financial (NASDAQ:GBFH - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other brokerages also recently issued reports on GBFH. Wall Street Zen upgraded GBank Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. JonesTrading reiterated a "buy" rating and issued a $35.00 target price on shares of GBank Financial in a report on Thursday, August 20th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of GBank Financial in a research report on Friday, July 24th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, GBank Financial presently has an average rating of "Moderate Buy" and a consensus target price of $37.33.

GBank Financial Price Performance

GBFH stock opened at $17.64 on Monday. The company has a market capitalization of $256.13 million, a P/E ratio of 13.78 and a beta of 0.07. The company has a fifty day moving average price of $20.23 and a 200-day moving average price of $26.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.02. GBank Financial has a 52-week low of $17.50 and a 52-week high of $42.23.

GBank Financial (NASDAQ:GBFH - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $21.95 million during the quarter, compared to analyst estimates of $21.80 million. GBank Financial had a net margin of 15.44% and a return on equity of 14.42%. As a group, equities analysts expect that GBank Financial will post 1.59 EPS for the current year.

Insider Activity

In related news, Director Charles Griege, Jr. bought 25,000 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average price of $21.03 per share, for a total transaction of $525,750.00. Following the transaction, the director directly owned 393,289 shares of the company's stock, valued at approximately $8,270,867.67. The trade was a 6.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Todd Anthony Nigro bought 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were bought at an average price of $21.07 per share, for a total transaction of $105,350.00. Following the transaction, the insider directly owned 286,494 shares in the company, valued at $6,036,428.58. This trade represents a 1.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 81,463 shares of company stock worth $1,742,969. Company insiders own 32.40% of the company's stock.

Institutional Investors Weigh In On GBank Financial

Several hedge funds and other institutional investors have recently bought and sold shares of GBFH. Legal & General Group Plc acquired a new position in shares of GBank Financial during the second quarter valued at about $30,000. Integrated Wealth Concepts LLC acquired a new stake in shares of GBank Financial in the 2nd quarter valued at about $72,000. Bank of America Corp DE bought a new stake in GBank Financial in the 2nd quarter valued at about $259,000. Deutsche Bank AG bought a new stake in GBank Financial in the 2nd quarter valued at about $288,000. Finally, Dimensional Fund Advisors LP raised its stake in GBank Financial by 93.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,696 shares of the company's stock worth $313,000 after buying an additional 5,657 shares during the period.

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.

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