GBank Financial (OTCMKTS:GBFH) Shares Down 6.3% - Should You Sell?

Key Points

• GBank Financial Holdings Inc. experienced a 6.3% drop in stock price during mid-day trading, with shares last trading at $41.08, down from a close of $43.86.
• The company reported earnings of $0.31 per share for the quarter, meeting analysts' consensus estimates, with a revenue of $17.36 million.
• Insider sales included a transaction by Chairman Edward Michael Nigro, who sold 23,609 shares for approximately $929,486, reflecting a 3.65% decrease in his ownership stake.

GBank Financial Holdings Inc. (OTCMKTS:GBFH - Get Free Report) was down 6.3% during trading on Tuesday . The company traded as low as $40.46 and last traded at $41.08. Approximately 9,383 shares were traded 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.

GBank Financial Trading Down 1.0%

The firm has a fifty day simple moving average of $38.47 and a 200 day simple moving average of $37.80. The stock has a market cap of $521.52 million, a price-to-earnings ratio of 27.31 and a beta of -1.09.

GBank Financial (OTCMKTS:GBFH - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.31 earnings per share for the quarter, meeting analysts' consensus estimates of $0.31. The business had revenue of $17.36 million for the quarter. On average, equities analysts expect that GBank Financial Holdings Inc. will post 1.53 earnings per share for the current year.

Insider Buying and Selling at GBank Financial

In related news, Chairman Edward Michael Nigro sold 23,609 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $39.37, for a total transaction of $929,486.33. Following the sale, the chairman owned 623,869 shares of the company's stock, valued at approximately $24,561,722.53. This trade represents a 3.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan Curtis Sklar sold 1,808 shares of GBank Financial stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $36.04, for a total value of $65,160.32. Following the completion of the sale, the director directly owned 503,243 shares in the company, valued at $18,136,877.72. This represents a 0.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,047 shares of company stock worth $3,538,716. Insiders own 37.70% of the company's stock.

About GBank Financial

GBank Financial Holdings Inc operates as a bank holding company for GBank that provides banking services to commercial and consumer customers in Nevada. The company offers business and personal checking and savings accounts. It also provides small business administration loans; commercial real estate, equipment, business term, and medical/professional loans; business lines of credit; accounts receivable/inventory financing services; and credit cards.