GBank Financial (NASDAQ:GBFH) Announces Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Key Points

• GBank Financial missed quarterly earnings expectations: It reported EPS of $0.30 versus the $0.43 consensus estimate and revenue of $20.34 million, below the $22.80 million expected.
• Shares fell 2.3% to $17.06 following the results, near the company’s $16.50 52-week low and well below its $39.77 52-week high.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $37.33; company insiders also purchased 81,463 shares worth approximately $1.74 million over the past 90 days.

GBank Financial (NASDAQ:GBFH - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.13), FiscalAI reports. The business had revenue of $20.34 million for the quarter, compared to the consensus estimate of $22.80 million. GBank Financial had a return on equity of 14.42% and a net margin of 15.44%.

GBank Financial Stock Down 2.3%

GBank Financial stock traded down $0.41 during mid-day trading on Wednesday, reaching $17.06. The stock had a trading volume of 84,757 shares, compared to its average volume of 73,446. The company has a market capitalization of $247.64 million, a price-to-earnings ratio of 13.33 and a beta of 0.07. The company has a 50-day moving average price of $18.91 and a two-hundred day moving average price of $26.67. GBank Financial has a one year low of $16.50 and a one year high of $39.77. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.98.

Wall Street Analyst Weigh In

GBFH has been the subject of several recent research reports. Wall Street Zen upgraded shares of GBank Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Zacks Research raised GBank Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. JonesTrading restated a "buy" rating and issued a $35.00 price target on shares of GBank Financial in a research note on Thursday, August 20th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of GBank Financial in a research report on Thursday, October 22nd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, GBank Financial has an average rating of "Moderate Buy" and an average price target of $37.33.

Insider Activity at GBank Financial

In other news, Director Charles Griege, Jr. bought 25,000 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was acquired at an average cost of $21.03 per share, with a total value of $525,750.00. Following the completion of the acquisition, the director owned 393,289 shares of the company's stock, valued at approximately $8,270,867.67. This represents 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 the SEC website. Also, Director Timothy P. Herbst purchased 10,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average price of $21.50 per share, for a total transaction of $215,000.00. Following the acquisition, the director owned 327,126 shares of the company's stock, valued at approximately $7,033,209. The trade was a 3.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 81,463 shares of company stock worth $1,742,969 in the last ninety days. 32.40% of the stock is currently owned by company insiders.

About GBank Financial

GBank Financial Holdings, Inc is the bank holding company for GBank, a Nevada-chartered commercial bank headquartered in Las Vegas. The company provides banking products and financial services to businesses, professionals and individuals, with an emphasis on relationship-based commercial banking.

GBank offers business and personal deposit accounts, commercial and residential real estate loans, business lending, treasury management services and other traditional banking products. Its specialty lending activities include Small Business Administration lending and mortgage warehouse financing, which provides credit facilities to mortgage originators.

Founded in 2007, GBank primarily serves customers in Nevada, including the Las Vegas and Reno markets, while its specialty lending businesses may serve borrowers and financial institutions in broader geographic markets.

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