GBank Financial (NASDAQ:GBFH) Insider Todd Anthony Nigro Buys 5,000 Shares of Stock

Key Points

• Insider purchase: Todd Anthony Nigro bought 5,000 GBank Financial shares at an average of $21.07, investing $105,350 and increasing his stake by 1.78% to 286,494 shares.
• Stock and earnings: GBFH shares fell to $20.39, near their one-year low of $19.63. The company reported quarterly EPS of $0.38, below the $0.48 consensus estimate, while revenue of $21.95 million slightly exceeded forecasts.
• Analyst outlook: Ratings are mixed, including a recent Zacks downgrade to “strong sell,” although the consensus rating remains “Moderate Buy” with an average price target of $37.33.

GBank Financial Holdings Inc. (NASDAQ:GBFH - Get Free Report) insider Todd Anthony Nigro acquired 5,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were bought at an average price of $21.07 per share, with a total value of $105,350.00. Following the completion of the purchase, the insider directly owned 286,494 shares of the company's stock, valued at approximately $6,036,428.58. This trade represents a 1.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

GBank Financial Stock Performance

Shares of GBFH stock traded down $1.06 during mid-day trading on Wednesday, reaching $20.39. The stock had a trading volume of 189,628 shares, compared to its average volume of 71,331. The business's fifty day moving average is $29.71 and its 200-day moving average is $29.75. The firm has a market cap of $295.04 million, a price-to-earnings ratio of 15.93 and a beta of 0.05. GBank Financial Holdings Inc. has a 1-year low of $19.63 and a 1-year high of $42.23. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

GBank Financial (NASDAQ:GBFH - Get Free Report) last issued 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 business had revenue of $21.95 million during the quarter, compared to analyst estimates of $21.80 million. GBank Financial had a return on equity of 14.62% and a net margin of 15.44%. On average, research analysts forecast that GBank Financial Holdings Inc. will post 1.87 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new position in shares of GBank Financial during the second quarter worth $151,000. Legal & General Group Plc acquired a new position in GBank Financial during the second quarter worth approximately $29,000. Rhumbline Advisers acquired a new position in shares of GBank Financial in the 2nd quarter valued at $334,000. New York State Common Retirement Fund acquired a new position in GBank Financial in the second quarter valued at $103,000. Finally, Quantbot Technologies LP purchased a new position in shares of GBank Financial during the second quarter worth about $69,000.

Wall Street Analysts Forecast Growth

GBFH has been the topic of a number of recent analyst reports. Zacks Research downgraded GBank Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. Weiss Ratings reissued a "hold (c)" rating on shares of GBank Financial in a research note on Friday, July 24th. Raymond James Financial began coverage on shares of GBank Financial in a research report on Friday, May 29th. They set an "outperform" rating and a $35.00 price target on the stock. JonesTrading decreased their price objective on GBank Financial from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of GBank Financial from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 27th. 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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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