MidFirst Bank Makes New Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• MidFirst Bank bought 15,581 Goldman Sachs shares worth approximately $15.8 million in the second quarter, making GS its 19th-largest portfolio holding. Institutional investors collectively own 71.21% of the stock.
• Goldman Sachs reported quarterly earnings of $20.98 per share, far exceeding the $14.47 consensus estimate, while revenue rose 39.4% year over year to $20.34 billion.
• The company raised its quarterly dividend from $4.50 to $5.00 per share. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $1,062.86.

MidFirst Bank bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,581 shares of the investment management company's stock, valued at approximately $15,759,000. The Goldman Sachs Group comprises about 1.1% of MidFirst Bank's portfolio, making the stock its 19th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Audent Global Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 10.1% during the fourth quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company's stock valued at $4,604,000 after buying an additional 479 shares during the last quarter. Oak Grove Capital LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth approximately $1,890,000. Nomura Asset Management Co. Ltd. raised its holdings in The Goldman Sachs Group by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company's stock worth $124,809,000 after acquiring an additional 3,653 shares during the last quarter. Global Retirement Partners LLC lifted its position in The Goldman Sachs Group by 35.0% in the 4th quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company's stock valued at $10,499,000 after acquiring an additional 3,098 shares in the last quarter. Finally, New Age Alpha Advisors LLC lifted its position in The Goldman Sachs Group by 92.4% in the 4th quarter. New Age Alpha Advisors LLC now owns 14,298 shares of the investment management company's stock valued at $12,568,000 after acquiring an additional 6,867 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Up 3.9%

The Goldman Sachs Group stock opened at $1,041.35 on Friday. The firm has a 50 day moving average of $1,053.96 and a 200 day moving average of $964.40. The firm has a market capitalization of $303.21 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.02 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 12-month low of $718.58 and a 12-month high of $1,153.99. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.17.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The company's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.91 earnings per share. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The Goldman Sachs Group's dividend payout ratio is presently 27.78%.

Analyst Ratings Changes

GS has been the subject of a number of research analyst reports. HSBC raised The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Evercore reaffirmed an "outperform" rating on shares of The Goldman Sachs Group in a report on Monday, July 6th. Jefferies Financial Group set a $1,299.00 price objective on The Goldman Sachs Group in a research report on Wednesday, July 15th. Bank of America lifted their price objective on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Finally, Dbs Bank boosted their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,062.86.

Key Headlines Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs was among the financial giants receiving a “Buy” growth grade, reinforcing the view that its earnings growth, capital-markets franchise and strategic positioning remain attractive. Citigroup and Goldman Sachs lead as most financial giants earn Buy growth grades
• Positive Sentiment: The firm is reportedly expanding into India’s government share-sale market. Greater participation in equity offerings could create additional investment-banking revenue and deepen Goldman’s presence in a fast-growing market. Goldman Sachs expands into India's government share sale market
• Positive Sentiment: Goldman agreed to pay up to $2.25 billion for NEOS Investments, the issuer of high-income ETFs. The acquisition supports Goldman’s asset-management and wealth-products strategy, although investors will monitor the price paid and integration execution. Goldman Sachs acquisition of NEOS Investments
• Neutral Sentiment: Goldman research said gold could exceed its $4,900 year-end forecast amid options demand, Western investor buying and central-bank purchases. The call may benefit the firm’s commodities and trading franchise, but changing interest-rate expectations could increase market volatility and forecasting risk. Gold could top Goldman's forecast
• Negative Sentiment: Goldman strategists described July as one of the sharpest hedge-fund de-grossing episodes of the past decade, with hedge funds posting an unusually weak month relative to the S&P 500. Continued de-risking could pressure trading activity and investment-banking sentiment across Wall Street. Goldman Sachs hedge funds worst month versus S&P 500

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs' core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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