JonesTrading Has Lowered Expectations for GBank Financial (NASDAQ:GBFH) Stock Price

Key Points

• JonesTrading cut GBank Financial’s price target from $50 to $35 while maintaining a “buy” rating, implying approximately 16.6% upside from the stock’s $30.02 price.
• Analyst sentiment remains positive overall, with four buy ratings and two holds producing a “Moderate Buy” consensus and an average target of $37.33.
• GBank Financial reported quarterly EPS of $0.38, missing the $0.50 estimate, although revenue of $21.95 million slightly exceeded expectations; an insider also purchased 24,000 shares for $696,000.

GBank Financial (NASDAQ:GBFH - Get Free Report) had its price objective decreased by stock analysts at JonesTrading from $50.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. JonesTrading's target price would suggest a potential upside of 16.59% from the company's current price.

A number of other equities analysts also recently commented on GBFH. Zacks Research upgraded GBank Financial from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Wall Street Zen upgraded GBank Financial from a "strong sell" rating to a "sell" rating in a report on Saturday, June 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GBank Financial in a research note on Friday, July 24th. Finally, Raymond James Financial initiated 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 on the stock. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $37.33.

GBank Financial Price Performance

Shares of NASDAQ GBFH opened at $30.02 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The firm's 50 day simple moving average is $30.34 and its 200-day simple moving average is $30.04. GBank Financial has a 12 month low of $23.87 and a 12 month high of $42.23. The stock has a market capitalization of $434.39 million, a price-to-earnings ratio of 24.41 and a beta of -0.11.

GBank Financial (NASDAQ:GBFH - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.12). GBank Financial had a return on equity of 14.46% and a net margin of 15.62%.The business had revenue of $21.95 million for the quarter, compared to analyst estimates of $21.80 million. Analysts expect that GBank Financial will post 2.03 EPS for the current year.

Insider Buying and Selling at GBank Financial

In related news, Director Charles William Jr. Griege purchased 24,000 shares of the business's stock in a transaction on Friday, June 5th. The shares were bought at an average price of $29.00 per share, for a total transaction of $696,000.00. Following the acquisition, the director directly owned 368,289 shares in the company, valued at $10,680,381. This trade represents a 6.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 32.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new position in shares of GBank Financial in the 4th quarter valued at $25,000. Russell Investments Group Ltd. purchased a new stake in GBank Financial in the third quarter valued at $30,000. BNP Paribas Financial Markets purchased a new stake in GBank Financial in the second quarter valued at $28,000. Legal & General Group Plc acquired a new position in GBank Financial in the second quarter valued at $29,000. Finally, Quantbot Technologies LP acquired a new position in GBank Financial in the second quarter valued at $69,000.

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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