Guaranty Bancorp (NASDAQ:GBNK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

Several other equities analysts have also weighed in on GBNK. Keefe, Bruyette & Woods set a $26.00 price objective on shares of Guaranty Bancorp and gave the company a “buy” rating in a research report on Saturday, June 24th. BidaskClub lowered shares of Guaranty Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. DA Davidson began coverage on shares of Guaranty Bancorp in a research report on Friday, June 30th. They set a “buy” rating and a $32.00 price objective on the stock. Piper Jaffray Companies lowered shares of Guaranty Bancorp from an “overweight” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a research report on Tuesday, July 11th. Finally, ValuEngine raised shares of Guaranty Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.90.

Guaranty Bancorp (GBNK) traded down 1.34% during midday trading on Friday, reaching $25.75. 735,294 shares of the company’s stock traded hands. The company’s 50-day moving average price is $25.95 and its 200 day moving average price is $25.48. The stock has a market capitalization of $718.89 million, a price-to-earnings ratio of 20.92 and a beta of 0.98. Guaranty Bancorp has a 52 week low of $16.95 and a 52 week high of $28.10.

Guaranty Bancorp (NASDAQ:GBNK) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $35.84 million for the quarter, compared to analyst estimates of $34.99 million. Guaranty Bancorp had a net margin of 23.00% and a return on equity of 10.23%. On average, equities research analysts expect that Guaranty Bancorp will post $1.46 earnings per share for the current year.

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In related news, Director Stephen D. Joyce purchased 2,000 shares of the stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $25.79 per share, for a total transaction of $51,580.00. Following the completion of the acquisition, the director now directly owns 62,739 shares in the company, valued at approximately $1,618,038.81. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael B. Hobbs sold 7,948 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $26.63, for a total value of $211,655.24. Following the transaction, the insider now owns 40,516 shares in the company, valued at approximately $1,078,941.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,451 shares of company stock worth $1,102,999. Corporate insiders own 8.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Guaranty Bancorp by 9.8% in the second quarter. Vanguard Group Inc. now owns 960,376 shares of the financial services provider’s stock worth $26,122,000 after acquiring an additional 85,642 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Guaranty Bancorp in the second quarter worth $21,660,000. Dimensional Fund Advisors LP grew its stake in shares of Guaranty Bancorp by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 681,195 shares of the financial services provider’s stock worth $18,528,000 after acquiring an additional 43,006 shares during the last quarter. RMB Capital Management LLC grew its stake in shares of Guaranty Bancorp by 16.9% in the first quarter. RMB Capital Management LLC now owns 555,253 shares of the financial services provider’s stock worth $13,520,000 after acquiring an additional 80,100 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Guaranty Bancorp by 26.9% in the second quarter. Renaissance Technologies LLC now owns 532,320 shares of the financial services provider’s stock worth $14,479,000 after acquiring an additional 112,700 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.

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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