BlackRock Inc. Takes $20.16 Million Position in GBank Financial Holdings Inc. $GBFH

Key Points

• BlackRock acquired a new 664,990-share stake in GBank Financial, worth approximately $20.16 million and representing about 4.6% of the company. Other institutional investors also initiated or increased positions.
• GBank Financial insiders purchased 109,463 shares worth roughly $2.55 million over the past 90 days, bringing insider ownership to 32.4%. Two directors recently bought shares totaling $740,750.
• The stock opened at $19.84, near its 52-week low of $19.25, after the company reported quarterly EPS of $0.38—below the $0.48 consensus estimate—despite revenue slightly exceeding expectations. Analysts maintain a “Moderate Buy” consensus with an average $37.33 price target.

BlackRock Inc. bought a new stake in shares of GBank Financial Holdings Inc. (NASDAQ:GBFH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 664,990 shares of the company's stock, valued at approximately $20,156,000. BlackRock Inc. owned about 4.60% of GBank Financial as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in GBank Financial in the second quarter worth $288,000. Bank of New York Mellon Corp purchased a new position in shares of GBank Financial in the second quarter worth about $703,000. Dimensional Fund Advisors LP increased its holdings in shares of GBank Financial by 93.7% in the first 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. Emerald Mutual Fund Advisers Trust lifted its stake in shares of GBank Financial by 19.6% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 118,000 shares of the company's stock valued at $3,158,000 after acquiring an additional 19,311 shares during the last quarter. Finally, Emerald Advisers LLC lifted its stake in shares of GBank Financial by 223.2% in the 1st quarter. Emerald Advisers LLC now owns 29,227 shares of the company's stock valued at $782,000 after acquiring an additional 20,185 shares during the last quarter.

Insider Activity at GBank Financial

In other news, Director Charles William Jr. Griege bought 25,000 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were purchased at an average price of $21.03 per share, for a total transaction of $525,750.00. Following the completion of the purchase, the director owned 393,289 shares in the company, valued at approximately $8,270,867.67. This represents a 6.79% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy P. Herbst purchased 10,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average price of $21.50 per share, with a total value of $215,000.00. Following the purchase, the director directly 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. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 109,463 shares of company stock valued at $2,554,969 over the last ninety days. Insiders own 32.40% of the company's stock.

GBank Financial Price Performance

GBFH opened at $19.84 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.02. The stock has a market capitalization of $288.08 million, a PE ratio of 15.50 and a beta of 0.03. The stock's 50 day moving average price is $25.84 and its 200-day moving average price is $27.89. GBank Financial Holdings Inc. has a 52-week low of $19.25 and a 52-week high of $42.23.

GBank Financial (NASDAQ:GBFH - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.10). The company had revenue of $21.95 million during the quarter, compared to the consensus estimate of $21.80 million. GBank Financial had a net margin of 15.44% and a return on equity of 14.42%. On average, equities research analysts predict that GBank Financial Holdings Inc. will post 1.59 EPS for the current year.

Analyst Upgrades and Downgrades

GBFH has been the topic of several recent research reports. Raymond James Financial began coverage on GBank Financial in a research report on Friday, May 29th. They set an "outperform" rating and a $35.00 price target on the stock. Wall Street Zen raised GBank Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. JonesTrading restated a "buy" rating and issued a $35.00 target price on shares of GBank Financial in a report on Thursday, August 20th. Zacks Research downgraded shares of GBank Financial from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of GBank Financial in a report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $37.33.

GBank Financial Company Profile

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.

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