GBank Financial (NASDAQ:GBFH) Shares Down 6.3% on Disappointing Earnings

Key Points

• GBank Financial shares dropped 6.3% to $41.08 after reporting weaker than expected earnings, with an EPS of $0.33 compared to analysts' estimates of $0.36.
• The company reported a revenue of $17.77 million for the quarter, missing expectations of $19.00 million, leading to a significant decline in trading volume.
• Despite the earnings miss, Wall Street Zen upgraded GBank Financial to a "hold" rating, indicating potential for recovery or stability.

GBank Financial Holdings Inc. (NASDAQ:GBFH - Get Free Report)'s share price dropped 6.3% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $40.46 and last traded at $41.08. Approximately 9,302 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 53,063 shares. The stock had previously closed at $43.86.

The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). GBank Financial had a return on equity of 13.56% and a net margin of 19.53%. The company had revenue of $17.77 million during the quarter, compared to analyst estimates of $19.00 million.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded GBank Financial from a "hold" rating to a "sell" rating in a research report on Saturday.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GBFH. Arcus Capital Partners LLC bought a new position in GBank Financial in the 2nd quarter worth approximately $203,000. Destiny Wealth Partners LLC bought a new stake in shares of GBank Financial during the second quarter valued at approximately $364,000. RVW Wealth LLC bought a new stake in shares of GBank Financial during the second quarter valued at approximately $399,000. FNY Investment Advisers LLC bought a new stake in shares of GBank Financial during the second quarter valued at approximately $442,000. Finally, Chapin Davis Inc. bought a new stake in shares of GBank Financial during the second quarter valued at approximately $7,209,000.

GBank Financial Trading Down 1.0%

The stock has a market cap of $521.45 million, a PE ratio of 27.11 and a beta of -1.08. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 0.18.

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.