Guaranty Bancorp Expected to Post FY2017 Earnings of $1.47 Per Share (GBNK)
Guaranty Bancorp (NASDAQ:GBNK) – Equities researchers at DA Davidson raised their FY2017 earnings per share estimates for shares of Guaranty Bancorp in a research report issued on Thursday. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings of $1.47 per share for the year, up from their prior estimate of $1.45. DA Davidson currently has a “Buy” rating and a $32.00 price target on the stock. DA Davidson also issued estimates for Guaranty Bancorp’s Q4 2017 earnings at $0.40 EPS, Q1 2018 earnings at $0.41 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $1.70 EPS and FY2019 earnings at $1.85 EPS.
Guaranty Bancorp (NASDAQ:GBNK) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). Guaranty Bancorp had a return on equity of 11.32% and a net margin of 24.17%. The business had revenue of $37.46 million during the quarter, compared to analysts’ expectations of $35.81 million.
Several other equities research analysts also recently weighed in on GBNK. Piper Jaffray Companies downgraded Guaranty Bancorp from an “overweight” rating to a “neutral” rating and set a $28.00 price target for the company. in a report on Tuesday, July 11th. BidaskClub cut Guaranty Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Keefe, Bruyette & Woods cut Guaranty Bancorp from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $26.00 to $27.00 in a research note on Thursday, July 20th. Zacks Investment Research upgraded Guaranty Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Friday, July 21st. Finally, ValuEngine upgraded Guaranty Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.90.
Shares of Guaranty Bancorp (NASDAQ:GBNK) opened at 29.90 on Monday. The stock has a market cap of $834.75 million, a price-to-earnings ratio of 24.29 and a beta of 1.00. Guaranty Bancorp has a 52-week low of $17.46 and a 52-week high of $30.30. The stock’s 50 day moving average is $27.23 and its 200 day moving average is $26.16.
In other news, Director Stephen D. Joyce acquired 2,000 shares of Guaranty Bancorp stock in a transaction dated Thursday, August 10th. The stock was purchased at an average cost of $25.79 per share, for a total transaction of $51,580.00. Following the completion of the purchase, the director now directly owns 62,739 shares in the company, valued at approximately $1,618,038.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Cathy P. Goss sold 3,793 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $26.82, for a total value of $101,728.26. Following the completion of the transaction, the executive vice president now owns 66,292 shares of the company’s stock, valued at $1,777,951.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,138 shares of company stock valued at $296,520. Company insiders own 8.40% of the company’s stock.
Several large investors have recently made changes to their positions in GBNK. Goldman Sachs Group Inc. purchased a new position in shares of Guaranty Bancorp in the second quarter worth about $21,660,000. Principal Financial Group Inc. purchased a new position in shares of Guaranty Bancorp in the second quarter worth about $6,319,000. Emerald Mutual Fund Advisers Trust raised its stake in shares of Guaranty Bancorp by 690.4% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 177,886 shares of the financial services provider’s stock worth $4,838,000 after purchasing an additional 155,380 shares during the last quarter. State Street Corp raised its stake in shares of Guaranty Bancorp by 41.7% in the second quarter. State Street Corp now owns 411,052 shares of the financial services provider’s stock worth $11,183,000 after purchasing an additional 120,876 shares during the last quarter. Finally, Renaissance Technologies LLC raised 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 purchasing an additional 112,700 shares during the last quarter. Hedge funds and other 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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