GBank Financial Holdings Inc. $GBFH Stake Boosted by Pekin Hardy Strauss Inc.

Key Points

• Pekin Hardy Strauss increased its GBank Financial stake by 1,097.6% in the third quarter, adding 83,965 shares to own 91,615 shares, valued at about $1.67 million. Other institutional investors also reported buying or increasing positions.
• GBank Financial missed quarterly expectations, reporting $0.30 in earnings per share versus the $0.43 consensus and revenue of $20.34 million versus estimates of $22.80 million.
• Analyst views are mixed, with the stock carrying an average “Hold” rating and a $25.50 average price target. Shares traded at $15.88 in Friday’s session, well below their 200-day moving average of $26.01.

Pekin Hardy Strauss Inc. boosted its holdings in GBank Financial Holdings Inc. (NASDAQ:GBFH - Free Report) by 1,097.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,615 shares of the company's stock after acquiring an additional 83,965 shares during the quarter. Pekin Hardy Strauss Inc. owned 0.63% of GBank Financial worth $1,666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GBFH. BlackRock Inc. bought a new stake in shares of GBank Financial during the 2nd quarter valued at about $20,156,000. Chapin Davis Inc. increased its position in shares of GBank Financial by 7.1% in the third quarter. Chapin Davis Inc. now owns 249,025 shares of the company's stock worth $4,527,000 after purchasing an additional 16,600 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of GBank Financial by 19.6% in the first 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 last quarter. Susquehanna International Group LLP bought a new position in shares of GBank Financial in the second quarter worth approximately $1,700,000. Finally, Emerald Advisers LLC raised its stake in GBank Financial by 223.2% in the first quarter. Emerald Advisers LLC now owns 29,227 shares of the company's stock valued at $782,000 after purchasing an additional 20,185 shares in the last quarter.

GBank Financial Price Performance

GBFH traded up $0.43 during midday trading on Friday, hitting $15.88. The stock had a trading volume of 73,123 shares, compared to its average volume of 92,800. The company has a market cap of $230.58 million, a P/E ratio of 12.70 and a beta of 0.18. The business has a fifty day moving average of $18.08 and a 200 day moving average of $26.01. 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 Holdings Inc. has a 1 year low of $11.51 and a 1 year high of $38.00.

GBank Financial (NASDAQ:GBFH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.13). The business had revenue of $20.34 million for the quarter, compared to analysts' expectations of $22.80 million. GBank Financial had a return on equity of 13.00% and a net margin of 14.86%. As a group, equities analysts forecast that GBank Financial Holdings Inc. will post 1.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on GBFH. Wall Street Zen upgraded shares of GBank Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings reissued a "hold (c)" rating on shares of GBank Financial in a report on Thursday, October 22nd. Zacks Research cut shares of GBank Financial from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Capital One Financial set a $15.00 price objective on shares of GBank Financial in a report on Thursday, October 29th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $20.00 target price on shares of GBank Financial in a research report on Thursday, October 29th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, GBank Financial currently has an average rating of "Hold" and an average price target of $25.50.

GBank Financial Profile

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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