Susquehanna International Group LLP Purchases New Position in GBank Financial Holdings Inc. $GBFH

Key Points

• Susquehanna International Group acquired 56,101 GBank Financial shares worth approximately $1.7 million, representing about 0.39% of the company. Several other institutional investors also initiated positions during recent quarters.
• GBank Financial insiders showed confidence by purchasing 109,463 shares worth roughly $2.55 million over the past 90 days; insiders now own 32.4% of the stock.
• The shares opened at $20.10, near their 12-month low of $19.40 and below their 50-day and 200-day moving averages. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $37.33, despite the company’s latest quarterly EPS missing estimates.

Susquehanna International Group LLP acquired a new stake in GBank Financial Holdings Inc. (NASDAQ:GBFH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 56,101 shares of the company's stock, valued at approximately $1,700,000. Susquehanna International Group LLP owned about 0.39% of GBank Financial at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GBFH. BNP Paribas Financial Markets bought a new stake in shares of GBank Financial during the second quarter worth $28,000. Legal & General Group Plc bought a new position in shares of GBank Financial in the 2nd quarter valued at $29,000. Russell Investments Group Ltd. bought a new position in shares of GBank Financial in the 3rd quarter valued at $30,000. Quantbot Technologies LP acquired a new stake in shares of GBank Financial during the 2nd quarter valued at $69,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of GBank Financial during the 2nd quarter valued at $103,000.

Insider Activity

In other GBank Financial news, Director Timothy P. Herbst purchased 10,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was purchased at an average cost of $21.50 per share, for a total transaction of $215,000.00. Following the acquisition, the director owned 327,126 shares in the company, valued at approximately $7,033,209. The trade was a 3.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Michael Nigro acquired 9,200 shares of the stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average cost of $21.51 per share, with a total value of $197,892.00. Following the completion of the transaction, the chief executive officer owned 628,830 shares in the company, valued at approximately $13,526,133.30. This represents a 1.48% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 109,463 shares of company stock worth $2,554,969. 32.40% of the stock is owned by insiders.

GBank Financial Stock Performance

NASDAQ GBFH opened at $20.10 on Monday. The business's 50-day moving average price is $26.43 and its two-hundred day moving average price is $28.18. GBank Financial Holdings Inc. has a 12 month low of $19.40 and a 12 month high of $42.23. The firm has a market capitalization of $291.85 million, a PE ratio of 15.70 and a beta of 0.06. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

GBank Financial (NASDAQ:GBFH - Get Free Report) last posted its quarterly earnings data 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 net margin of 15.44% and a return on equity of 14.42%. The firm had revenue of $21.95 million during the quarter, compared to the consensus estimate of $21.80 million. On average, analysts expect that GBank Financial Holdings Inc. will post 1.59 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Raymond James Financial began coverage on GBank Financial in a research note on Friday, May 29th. They issued an "outperform" rating and a $35.00 price objective for the company. 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 reissued a "buy" rating and set a $35.00 target price on shares of GBank Financial in a report on Thursday, August 20th. Weiss Ratings restated a "hold (c)" rating on shares of GBank Financial in a research report on Friday, July 24th. Finally, Zacks Research downgraded shares of GBank Financial from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, GBank Financial has a consensus rating of "Moderate Buy" and an average target price of $37.33.

GBank Financial 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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