GBank Financial Holdings Inc. (NASDAQ:GBFH) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Four of six brokerages rate GBank Financial a buy, while one rates it a hold and one a sell. The average 12-month price target is $37.33, well above the stock’s $19.95 opening price.
• Insiders increased their positions: Executives and directors bought 81,463 shares worth approximately $1.74 million during the last quarter, with insiders now owning 32.4% of the company.
• Recent performance was mixed: GBank Financial reported quarterly EPS of $0.38, missing the $0.48 consensus estimate, although revenue of $21.95 million slightly exceeded expectations. Shares remain near their 52-week low of $19.25 after falling below both the 50-day and 200-day moving averages.

GBank Financial Holdings Inc. (NASDAQ:GBFH - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $37.3333.

GBFH has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of 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 price target on shares of GBank Financial in a research report on Thursday, August 20th. 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 target for the company. Weiss Ratings reissued a "hold (c)" rating on shares of GBank Financial in a research report on Friday, July 24th. Finally, Zacks Research cut GBank Financial from a "hold" rating to a "strong sell" rating in a report on Friday, July 31st.

Insider Activity at GBank Financial

In related news, CEO Jeffrey K. Newgard purchased 13,065 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was acquired at an average price of $21.54 per share, with a total value of $281,420.10. Following the completion of the purchase, the chief executive officer directly owned 21,661 shares in the company, valued at $466,577.94. This trade represents a 151.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Griege, Jr. acquired 25,000 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were purchased at an average cost of $21.03 per share, with a total value of $525,750.00. Following the transaction, the director directly owned 393,289 shares of the company's stock, valued at $8,270,867.67. This trade represents a 6.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 81,463 shares of company stock worth $1,742,969 in the last quarter. 32.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GBank Financial

Several hedge funds and other institutional investors have recently made changes to their positions in GBFH. BNP Paribas Financial Markets acquired a new stake in shares of GBank Financial during the 2nd quarter worth approximately $28,000. Legal & General Group Plc acquired a new position in GBank Financial during the second quarter valued at approximately $29,000. Russell Investments Group Ltd. acquired a new position in GBank Financial during the third quarter valued at approximately $30,000. Quantbot Technologies LP bought a new stake in GBank Financial during the second quarter worth $69,000. Finally, New York State Common Retirement Fund bought a new stake in GBank Financial during the second quarter worth $103,000.

GBank Financial Trading Up 0.6%

Shares of GBank Financial stock opened at $19.95 on Friday. The firm has a 50-day moving average of $25.64 and a 200-day moving average of $27.80. The stock has a market cap of $289.67 million, a PE ratio of 15.59 and a beta of 0.03. GBank Financial has a 52-week low of $19.25 and a 52-week high of $42.23. 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 (NASDAQ:GBFH - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.10). GBank Financial had a return on equity of 14.42% and a net margin of 15.44%.The business had revenue of $21.95 million for the quarter, compared to the consensus estimate of $21.80 million. As a group, sell-side analysts forecast that GBank Financial will post 1.59 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source