Analysts Anticipate Guaranty Bancorp (NASDAQ:GBNK) Will Announce Quarterly Sales of $34.99 Million
Wall Street brokerages expect Guaranty Bancorp (NASDAQ:GBNK) to report sales of $34.99 million for the current quarter, Zacks reports. Two analysts have made estimates for Guaranty Bancorp’s earnings, with estimates ranging from $34.70 million to $35.28 million. Guaranty Bancorp reported sales of $23.96 million during the same quarter last year, which indicates a positive year over year growth rate of 46%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, July 19th.
According to Zacks, analysts expect that Guaranty Bancorp will report full year sales of $34.99 million for the current year, with estimates ranging from $140.90 million to $142.13 million. For the next year, analysts anticipate that the business will report sales of $152.20 million per share, with estimates ranging from $152.00 million to $152.41 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Guaranty Bancorp.
Guaranty Bancorp (NASDAQ:GBNK) last posted its earnings results on Wednesday, April 19th. The financial services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. Guaranty Bancorp had a return on equity of 10.06% and a net margin of 21.94%. The business had revenue of $34.57 million during the quarter, compared to the consensus estimate of $33.80 million.
A number of research firms recently commented on GBNK. Hovde Group lifted their price target on Guaranty Bancorp from $26.50 to $27.50 and gave the stock an “outperform” rating in a research note on Thursday, April 20th. Zacks Investment Research upgraded Guaranty Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Monday, April 24th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $27.00 target price on shares of Guaranty Bancorp in a report on Wednesday, April 5th. DA Davidson began coverage on shares of Guaranty Bancorp in a report on Friday, June 30th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, ValuEngine raised shares of Guaranty Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Guaranty Bancorp presently has an average rating of “Buy” and an average target price of $28.50.
A number of institutional investors have recently modified their holdings of GBNK. American International Group Inc. boosted its position in shares of Guaranty Bancorp by 20.1% in the first quarter. American International Group Inc. now owns 10,363 shares of the financial services provider’s stock worth $252,000 after buying an additional 1,731 shares in the last quarter. TD Asset Management Inc. acquired a new position in shares of Guaranty Bancorp during the first quarter worth about $276,000. Nationwide Fund Advisors boosted its position in shares of Guaranty Bancorp by 13.1% in the first quarter. Nationwide Fund Advisors now owns 11,759 shares of the financial services provider’s stock worth $286,000 after buying an additional 1,360 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Guaranty Bancorp by 9.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,693 shares of the financial services provider’s stock worth $307,000 after buying an additional 1,092 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Guaranty Bancorp during the first quarter worth about $386,000. 69.11% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Guaranty Bancorp (GBNK) opened at 27.20 on Friday. Guaranty Bancorp has a 12-month low of $16.30 and a 12-month high of $27.35. The stock has a market capitalization of $759.02 million, a P/E ratio of 23.84 and a beta of 0.98. The stock has a 50 day moving average price of $25.52 and a 200 day moving average price of $24.64.
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Guaranty Bancorp Company Profile
Guaranty Bancorp is a bank holding company. The Company’s bank subsidiary is Guaranty Bank and Trust Company (the Bank). As of December 31, 2016, the Company operated 32 branches and two investment management firms, Private Capital Management LLC (PCM) and Cherry Hills Investment Advisors Inc (CHIA), in Colorado through the Bank.
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