Insider Buying: GBank Financial (NASDAQ:GBFH) CEO Purchases $197,892.00 in Stock

Key Points

• GBank Financial CEO Edward Michael Nigro bought 9,200 shares at an average price of $21.51, investing $197,892 and increasing his direct stake by 1.48% to 628,830 shares.
• GBFH shares fell to $20.39, near their 52-week low of $19.63, while the company’s latest quarterly EPS of $0.38 missed estimates by $0.10 despite revenue slightly exceeding forecasts.
• Analyst sentiment remains mixed but averages a “Moderate Buy” rating, with a consensus price target of $37.33; recent ratings included a downgrade to “strong sell” from Zacks Research and a reduced target from JonesTrading.

GBank Financial Holdings Inc. (NASDAQ:GBFH - Get Free Report) CEO Edward Michael Nigro bought 9,200 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average price of $21.51 per share, with a total value of $197,892.00. Following the completion of the purchase, the chief executive officer directly owned 628,830 shares in the company, valued at $13,526,133.30. The trade was a 1.48% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

GBank Financial Stock Performance

NASDAQ GBFH traded down $1.06 during trading on Wednesday, reaching $20.39. 189,628 shares of the company's stock were exchanged, compared to its average volume of 71,331. The business has a 50 day moving average price of $29.71 and a 200-day moving average price of $29.75. The stock has a market capitalization of $295.04 million, a P/E ratio of 15.93 and a beta of 0.05. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. GBank Financial Holdings Inc. has a fifty-two week low of $19.63 and a fifty-two week high of $42.23.

GBank Financial (NASDAQ:GBFH - Get Free Report) last released its quarterly earnings data 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 net margin of 15.44% and a return on equity of 14.62%. The business had revenue of $21.95 million during the quarter, compared to the consensus estimate of $21.80 million. Sell-side analysts forecast that GBank Financial Holdings Inc. will post 1.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GBank Financial

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in shares of GBank Financial during the second quarter worth approximately $151,000. Legal & General Group Plc acquired a new stake in GBank Financial during the 2nd quarter worth approximately $29,000. Rhumbline Advisers bought a new stake in GBank Financial in the 2nd quarter valued at $334,000. New York State Common Retirement Fund bought a new stake in GBank Financial in the 2nd quarter valued at $103,000. Finally, Quantbot Technologies LP acquired a new position in GBank Financial in the 2nd quarter valued at $69,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded GBank Financial from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 27th. Zacks Research cut shares of GBank Financial from a "hold" rating to a "strong sell" rating in a research report on Friday, July 31st. JonesTrading decreased their price objective on shares of GBank Financial from $50.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Weiss Ratings reissued a "hold (c)" rating on shares of GBank Financial in a research report on Friday, July 24th. Finally, Raymond James Financial assumed coverage on shares of GBank Financial in a research note on Friday, May 29th. They set an "outperform" rating and a $35.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $37.33.

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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