Great Western Bancorp, Inc. (GWB) Downgraded by Zacks Investment Research to Sell
Great Western Bancorp, Inc. (NYSE:GWB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
According to Zacks, “Great Western Bancorp Inc. is a full-service regional bank holding company. It focuses on business and agribusiness banking, complemented by retail banking and wealth management services. The Bank’s loan portfolio consists primarily of business loans, comprised of commercial and industrial, and agribusiness loans. It also provides a range of deposit and loan products to its retail customers through several channels, including its branch network, online banking system, mobile banking applications and customer care centers. The Bank provides wealth management solutions consisting of financial planning, private banking, investment management, and trust services. Great Western Bancorp, Inc. is headquartered in Sioux Falls, South Dakota. “
A number of other equities research analysts also recently issued reports on GWB. J P Morgan Chase & Co downgraded Great Western Bancorp from an “overweight” rating to a “neutral” rating and cut their price target for the company from $48.00 to $47.00 in a research note on Friday, April 28th. Keefe, Bruyette & Woods restated a “buy” rating and set a $47.00 price target on shares of Great Western Bancorp in a research note on Tuesday, May 30th. BidaskClub upgraded Great Western Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $48.00 price objective on shares of Great Western Bancorp in a research note on Friday, July 7th. Finally, Piper Jaffray Companies set a $42.00 price objective on Great Western Bancorp and gave the company a “hold” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $45.56.
Shares of Great Western Bancorp (NYSE:GWB) traded down 0.30% during midday trading on Friday, hitting $36.19. 164,036 shares of the stock were exchanged. Great Western Bancorp has a 52-week low of $31.51 and a 52-week high of $45.62. The firm’s 50 day moving average price is $39.29 and its 200-day moving average price is $40.89. The stock has a market cap of $2.13 billion, a P/E ratio of 15.15 and a beta of 1.69.
Great Western Bancorp (NYSE:GWB) last released its quarterly earnings results on Thursday, July 27th. The bank reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $114.22 million for the quarter, compared to the consensus estimate of $117.10 million. Great Western Bancorp had a net margin of 28.55% and a return on equity of 8.44%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, equities research analysts expect that Great Western Bancorp will post $2.43 earnings per share for the current fiscal year.
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In related news, insider Bryan Leighton Kindopp sold 766 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $40.95, for a total transaction of $31,367.70. Following the completion of the transaction, the insider now directly owns 300 shares in the company, valued at approximately $12,285. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Great Western Bancorp by 106.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,445 shares of the bank’s stock worth $104,000 after buying an additional 1,263 shares in the last quarter. Flinton Capital Management LLC boosted its position in Great Western Bancorp by 85.4% in the second quarter. Flinton Capital Management LLC now owns 3,056 shares of the bank’s stock worth $125,000 after buying an additional 1,408 shares in the last quarter. Victory Capital Management Inc. boosted its position in Great Western Bancorp by 2.7% in the first quarter. Victory Capital Management Inc. now owns 3,354 shares of the bank’s stock worth $142,000 after buying an additional 88 shares in the last quarter. Strs Ohio boosted its position in Great Western Bancorp by 7.1% in the second quarter. Strs Ohio now owns 4,500 shares of the bank’s stock worth $183,000 after buying an additional 300 shares in the last quarter. Finally, Riverhead Capital Management LLC boosted its position in Great Western Bancorp by 85.8% in the second quarter. Riverhead Capital Management LLC now owns 4,830 shares of the bank’s stock worth $197,000 after buying an additional 2,230 shares in the last quarter.
Great Western Bancorp Company Profile
Great Western Bancorp, Inc is a full-service regional bank holding company. The Company is the holding company of the Great Western Bank (the Bank). As of September 30, 2016, the Company served customers through 173 branches in various markets in Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.
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