GBank Financial (NASDAQ:GBFH) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded GBank Financial to “Hold” from “Sell,” while analyst opinions remain mixed. MarketBeat’s consensus rating is “Moderate Buy,” with a consensus price target of $37.33.
• GBank Financial shares opened at $21.46, down 1.5%, and remain well below their 12-month high of $42.23. The company’s latest quarterly EPS of $0.38 missed estimates of $0.48, although revenue slightly exceeded expectations.
• Insiders have been buying shares: directors and executives purchased 109,463 shares worth approximately $2.55 million over the past 90 days, bringing insider ownership to 32.4%.

GBank Financial (NASDAQ:GBFH - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

A number of other equities analysts also recently weighed in on the stock. Zacks Research downgraded shares of GBank Financial from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Raymond James Financial started coverage on GBank Financial in a research report on Friday, May 29th. They issued an "outperform" rating and a $35.00 price target on the stock. Weiss Ratings restated a "hold (c)" rating on shares of GBank Financial in a research note on Friday, July 24th. Finally, JonesTrading reduced their price objective on GBank Financial from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.33.

GBank Financial Trading Down 1.5%

NASDAQ GBFH opened at $21.46 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. GBank Financial has a twelve month low of $19.63 and a twelve month high of $42.23. The firm has a market capitalization of $310.53 million, a PE ratio of 16.77 and a beta of 0.05. The stock's 50 day moving average is $28.39 and its 200 day moving average is $29.10.

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 (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.10). GBank Financial had a return on equity of 14.62% and a net margin of 15.44%.The business had revenue of $21.95 million during the quarter, compared to the consensus estimate of $21.80 million. Research analysts forecast that GBank Financial will post 1.59 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Charles William Jr. Griege bought 25,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average price of $21.03 per share, for a total transaction of $525,750.00. Following the purchase, the director owned 393,289 shares in the company, valued at $8,270,867.67. This represents a 6.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Edward Michael Nigro bought 9,200 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of $21.51 per share, with a total value of $197,892.00. Following the acquisition, the chief executive officer directly owned 628,830 shares in the company, valued at $13,526,133.30. This trade represents a 1.48% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 109,463 shares of company stock worth $2,554,969. 32.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GBank Financial

Hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new stake in shares of GBank Financial during the fourth quarter worth about $25,000. Russell Investments Group Ltd. purchased a new position in GBank Financial in the 3rd quarter worth approximately $30,000. BNP Paribas Financial Markets purchased a new position in GBank Financial in the 2nd quarter worth approximately $28,000. Legal & General Group Plc purchased a new position in GBank Financial in the 2nd quarter worth approximately $29,000. Finally, Quantbot Technologies LP bought a new position in GBank Financial in the 2nd quarter worth approximately $69,000.

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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