GBank Financial (NASDAQ:GBFH) Shares Up 4.2% - Here's Why

Key Points

• GBank Financial Holdings Inc. experienced a 4.2% increase in share price, trading at $40.84, following a notable trading volume decline of 57% from its average.
• Analysts have varied opinions, with Wall Street Zen downgrading to a "sell" rating, while Jones Trading has initiated coverage with a "buy" rating and a target price of $55.00.
• The company reported earnings of $0.33 per share, which was below the consensus estimate of $0.36, and had revenue of $17.77 million against expectations of $19.00 million.

GBank Financial Holdings Inc. (NASDAQ:GBFH - Get Free Report)'s share price rose 4.2% on Friday . The company traded as high as $40.84 and last traded at $40.84. Approximately 21,103 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 48,994 shares. The stock had previously closed at $39.21.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GBFH. Wall Street Zen lowered shares of GBank Financial from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Jones Trading initiated coverage on shares of GBank Financial in a research report on Monday, September 29th. They set a "buy" rating and a $55.00 target price on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of GBank Financial in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $55.00.

GBank Financial Trading Up 3.5%

The firm has a market capitalization of $579.77 million, a P/E ratio of 29.64 and a beta of -1.12. The company has a 50 day moving average of $39.94. The company has a quick ratio of 0.97, a current ratio of 1.02 and a debt-to-equity ratio of 0.17.

GBank Financial (NASDAQ:GBFH - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $17.77 million for the quarter, compared to the consensus estimate of $19.00 million. GBank Financial had a return on equity of 13.31% and a net margin of 19.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GBFH. Arista Wealth Management LLC bought a new position in shares of GBank Financial in the second quarter worth $10,456,000. Geode Capital Management LLC bought a new position in shares of GBank Financial in the second quarter worth $7,323,000. Chapin Davis Inc. bought a new position in shares of GBank Financial in the second quarter worth $7,209,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of GBank Financial in the second quarter worth $3,087,000. Finally, Pekin Hardy Strauss Inc. bought a new position in GBank Financial in the second quarter valued at about $1,832,000.

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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