Royal Bank Of Canada Reiterates Buy Rating for Great Western Bancorp, Inc. (GWB)
Great Western Bancorp, Inc. (NYSE:GWB)‘s stock had its “buy” rating reaffirmed by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They presently have a $46.00 target price on the bank’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 32.49% from the company’s previous close.
Several other research firms have also commented on GWB. BidaskClub raised Great Western Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research lowered Great Western Bancorp from a “hold” rating to a “sell” rating in a report on Monday, May 15th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $41.00 target price on shares of Great Western Bancorp in a report on Thursday, August 3rd. Stephens set a $46.00 target price on Great Western Bancorp and gave the company a “buy” rating in a report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $47.00 target price on shares of Great Western Bancorp in a report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Great Western Bancorp currently has an average rating of “Buy” and a consensus price target of $45.44.
Shares of Great Western Bancorp (NYSE:GWB) opened at 34.72 on Friday. The firm’s 50-day moving average price is $37.35 and its 200-day moving average price is $40.19. The firm has a market capitalization of $2.04 billion, a PE ratio of 14.54 and a beta of 1.71. Great Western Bancorp has a 52-week low of $31.51 and a 52-week high of $45.62.
Great Western Bancorp (NYSE:GWB) last posted its earnings results on Thursday, July 27th. The bank reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company 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 firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. On average, equities analysts predict that Great Western Bancorp will post $2.43 earnings per share for the current fiscal year.
In other 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 $12,285. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Great Western Bancorp by 49,025.7% during the first quarter. BlackRock Inc. now owns 7,204,279 shares of the bank’s stock worth $305,533,000 after buying an additional 7,189,614 shares during the period. Macquarie Group Ltd. boosted its position in shares of Great Western Bancorp by 13.4% during the second quarter. Macquarie Group Ltd. now owns 3,305,442 shares of the bank’s stock worth $134,895,000 after buying an additional 389,922 shares during the period. State Street Corp boosted its position in shares of Great Western Bancorp by 10.6% during the second quarter. State Street Corp now owns 2,699,137 shares of the bank’s stock worth $110,148,000 after buying an additional 259,443 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Great Western Bancorp by 28.0% during the second quarter. Bank of New York Mellon Corp now owns 2,584,887 shares of the bank’s stock worth $105,490,000 after buying an additional 565,508 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Great Western Bancorp by 6.4% during the second quarter. JPMorgan Chase & Co. now owns 2,445,666 shares of the bank’s stock worth $99,807,000 after buying an additional 147,426 shares during the period.
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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