Guaranty Bancorp (GBNK) Upgraded at Zacks Investment Research
Guaranty Bancorp (NASDAQ:GBNK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $30.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.57% from the company’s current price.
According to Zacks, “GUARANTY BANCORP is a bank holding company with one wholly owned bank subsidiary, Guaranty Bank and Trust Company. Guaranty Bank and Trust Company provides banking and other financial services, including real estate, construction, commercial and industrial, energy, consumer and agriculture loans, to consumers and small and medium-sized businesses, including the owners and employees of those businesses, through 36 community banking branches in the Colorado Front Range. Guaranty Bank also provides trust services, including personal trust administration, estate settlement, investment management accounts and self-directed IRAs. “
A number of other brokerages have also weighed in on GBNK. Piper Jaffray Companies lowered shares of Guaranty Bancorp from an “overweight” rating to a “neutral” rating and set a $28.00 target price for the company. in a research report on Tuesday, July 11th. Keefe, Bruyette & Woods lowered shares of Guaranty Bancorp from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $26.00 to $27.00 in a research report on Thursday. BidaskClub lowered shares of Guaranty Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday. DA Davidson assumed coverage on shares of Guaranty Bancorp in a research report on Friday, June 30th. They set a “buy” rating and a $32.00 target price for the company. Finally, ValuEngine upgraded shares of Guaranty Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $28.90.
Guaranty Bancorp (NASDAQ:GBNK) traded down 1.11% during mid-day trading on Friday, hitting $26.65. 134,134 shares of the stock traded hands. Guaranty Bancorp has a 12 month low of $16.35 and a 12 month high of $28.10. The company has a market cap of $743.67 million, a P/E ratio of 23.36 and a beta of 0.98. The company’s 50 day moving average is $26.36 and its 200 day moving average is $25.02.
Guaranty Bancorp (NASDAQ:GBNK) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Guaranty Bancorp had a net margin of 23.00% and a return on equity of 10.33%. The firm had revenue of $35.84 million during the quarter, compared to analyst estimates of $34.99 million. On average, analysts expect that Guaranty Bancorp will post $1.46 earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its stake in 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 during the last quarter. TD Asset Management Inc. acquired a new stake in Guaranty Bancorp during the first quarter worth about $276,000. Nationwide Fund Advisors increased its stake in 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 during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in 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 during the last quarter. Finally, Stifel Financial Corp acquired a new stake in Guaranty Bancorp during the first quarter worth about $386,000. 69.11% of the stock is currently owned by institutional investors.
About Guaranty Bancorp
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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