GBank Financial's (GBFH) Buy Rating Reiterated at JonesTrading

Key Points

• JonesTrading reiterated a “buy” rating on GBank Financial with a $35 price target, implying 68.67% upside from the prior close. Analysts’ consensus is “Moderate Buy,” with an average target of $37.33.
• GBFH shares fell 0.1% to $20.75, near the company’s 52-week low of $19.63. The bank’s latest quarterly EPS of $0.38 missed estimates of $0.48, although revenue of $21.95 million exceeded expectations.
• Insiders bought 109,463 shares worth about $2.55 million over the past 90 days, while insiders own 32.4% of the company. BlackRock also initiated a position valued at approximately $20.2 million during the second quarter.

GBank Financial (NASDAQ:GBFH - Get Free Report)'s stock had its "buy" rating reissued by JonesTrading in a note issued to investors on Thursday,Benzinga reports. They presently have a $35.00 target price on the stock. JonesTrading's price objective suggests a potential upside of 68.67% from the company's previous close.

Several other brokerages also recently issued reports on GBFH. Raymond James Financial initiated 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. Wall Street Zen upgraded GBank Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Zacks Research downgraded shares of GBank Financial from a "hold" rating to a "strong sell" rating in a research note on Friday, July 31st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of GBank Financial in a research note on Friday, July 24th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, GBank Financial currently has a consensus rating of "Moderate Buy" and an average target price of $37.33.

GBank Financial Stock Down 0.1%

Shares of GBank Financial stock traded down $0.03 on Thursday, hitting $20.75. 110,324 shares of the company's stock traded hands, compared to its average volume of 72,863. The stock has a market cap of $301.29 million, a P/E ratio of 16.21 and a beta of 0.05. The firm's 50-day moving average is $27.81 and its 200 day moving average is $28.81. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. GBank Financial has a 52-week low of $19.63 and a 52-week high of $42.23.

GBank Financial (NASDAQ:GBFH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.10). The business had revenue of $21.95 million during the quarter, compared to the consensus estimate of $21.80 million. GBank Financial had a return on equity of 14.42% and a net margin of 15.44%. Equities analysts anticipate that GBank Financial will post 1.59 earnings per share for the current year.

Insider Buying and Selling at GBank Financial

In other news, Director Timothy P. Herbst purchased 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of $21.50 per share, with a total value of $215,000.00. Following the acquisition, the director directly owned 327,126 shares of the company's stock, valued at approximately $7,033,209. This trade represents a 3.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Todd Anthony Nigro purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were acquired at an average price of $21.07 per share, for a total transaction of $105,350.00. Following the completion of the transaction, the insider owned 286,494 shares in the company, valued at $6,036,428.58. The trade was a 1.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 109,463 shares of company stock worth $2,554,969 over the last ninety days. Company insiders own 32.40% of the company's stock.

Institutional Investors Weigh In On GBank Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GBFH. Susquehanna International Group LLP bought a new position in shares of GBank Financial during the second quarter worth $1,700,000. Bank of America Corp DE bought a new stake in shares of GBank Financial in the 2nd quarter valued at $259,000. Legal & General Group Plc acquired a new stake in GBank Financial during the 2nd quarter worth $30,000. BlackRock Inc. bought a new position in GBank Financial during the second quarter worth about $20,156,000. Finally, Deutsche Bank AG acquired a new position in shares of GBank Financial in the second quarter valued at approximately $288,000.

About GBank Financial

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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