Forest Hill Capital LLC boosted its position in Guaranty Bancorp (NASDAQ:GBNK) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 545,633 shares of the financial services provider’s stock after purchasing an additional 3,800 shares during the period. Guaranty Bancorp accounts for about 4.3% of Forest Hill Capital LLC’s portfolio, making the stock its 3rd biggest holding. Forest Hill Capital LLC owned about 1.87% of Guaranty Bancorp worth $15,087,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Guaranty Bancorp by 8.6% in the fourth quarter. BlackRock Inc. now owns 1,498,236 shares of the financial services provider’s stock valued at $41,428,000 after buying an additional 118,505 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Guaranty Bancorp by 12.1% in the third quarter. Dimensional Fund Advisors LP now owns 763,698 shares of the financial services provider’s stock valued at $21,231,000 after buying an additional 82,503 shares during the period. State Street Corp increased 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 valued at $11,183,000 after buying an additional 120,876 shares during the period. Royce & Associates LP increased its stake in shares of Guaranty Bancorp by 5.1% in the fourth quarter. Royce & Associates LP now owns 306,900 shares of the financial services provider’s stock valued at $8,486,000 after buying an additional 14,800 shares during the period. Finally, Wedge Capital Management L L P NC increased its stake in shares of Guaranty Bancorp by 3.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 282,800 shares of the financial services provider’s stock valued at $7,819,000 after buying an additional 9,740 shares during the period. 69.98% of the stock is owned by institutional investors and hedge funds.
GBNK has been the subject of several recent research reports. Zacks Investment Research raised Guaranty Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Friday, December 29th. BidaskClub raised Guaranty Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, February 11th. ValuEngine cut Guaranty Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $31.00 target price on shares of Guaranty Bancorp in a research note on Friday, December 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.90.
Guaranty Bancorp (NASDAQ:GBNK) last released its earnings results on Wednesday, January 24th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Guaranty Bancorp had a return on equity of 11.46% and a net margin of 24.18%. The business had revenue of $38.36 million during the quarter, compared to analysts’ expectations of $37.42 million. analysts forecast that Guaranty Bancorp will post 1.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 23rd were issued a $0.1625 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.65 annualized dividend and a yield of 2.21%. This is a positive change from Guaranty Bancorp’s previous quarterly dividend of $0.13. Guaranty Bancorp’s dividend payout ratio is presently 47.45%.
In other Guaranty Bancorp news, insider Michael B. Hobbs sold 4,770 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $27.90, for a total value of $133,083.00. Following the transaction, the insider now owns 40,524 shares in the company, valued at $1,130,619.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul W. Taylor sold 9,321 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $27.85, for a total value of $259,589.85. Following the completion of the transaction, the chief executive officer now owns 98,696 shares in the company, valued at approximately $2,748,683.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,442 shares of company stock worth $801,477. Corporate insiders own 8.40% of the company’s stock.
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Guaranty Bancorp Company Profile
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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