206,776 Shares in GBank Financial Holdings Inc. $GBFH Acquired by Geode Capital Management LLC

Geode Capital Management LLC acquired a new stake in GBank Financial Holdings Inc. (NASDAQ:GBFH) during the second quarter, Holdings Channel reports. The fund acquired 206,776 shares of the company’s stock, valued at approximately $7,323,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Arista Wealth Management LLC purchased a new stake in shares of GBank Financial during the second quarter worth $10,456,000. Chapin Davis Inc. acquired a new position in GBank Financial during the second quarter worth about $7,209,000. Emerald Mutual Fund Advisers Trust acquired a new position in GBank Financial during the second quarter worth about $3,087,000. Pekin Hardy Strauss Inc. acquired a new stake in GBank Financial in the 2nd quarter valued at about $1,832,000. Finally, Crown Advisors Management Inc. acquired a new stake in GBank Financial in the 2nd quarter valued at about $1,026,000.

GBank Financial Price Performance

NASDAQ:GBFH opened at $35.74 on Friday. The company has a 50-day moving average price of $36.90. GBank Financial Holdings Inc. has a 1-year low of $27.30 and a 1-year high of $46.00. The company has a quick ratio of 0.95, a current ratio of 1.01 and a debt-to-equity ratio of 0.17. The firm has a market cap of $513.94 million, a price-to-earnings ratio of 27.49 and a beta of -1.06.

GBank Financial (NASDAQ:GBFH) last released its quarterly earnings results on Wednesday, November 12th. The company reported $0.30 EPS for the quarter. GBank Financial had a net margin of 17.89% and a return on equity of 13.94%. The firm had revenue of $20.18 million for the quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of GBank Financial in a research report on Wednesday, October 8th. Jones Trading reissued a “buy” rating and set a $55.00 price objective on shares of GBank Financial in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, GBank Financial has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Insider Activity

In related news, Chairman Edward Michael Nigro acquired 800 shares of GBank Financial stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $34.06 per share, for a total transaction of $27,248.00. Following the acquisition, the chairman owned 16,700 shares in the company, valued at approximately $568,802. This represents a 5.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Charles William Jr. Griege bought 25,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was bought at an average cost of $33.30 per share, for a total transaction of $832,500.00. Following the transaction, the director directly owned 344,289 shares of the company’s stock, valued at $11,464,823.70. The trade was a 7.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 37.70% of the company’s stock.

GBank Financial Profile

GBank Financial Holdings Inc operates as a bank holding company for GBank which provides banking services to commercial and consumer customers principally in Nevada. The company offers business and personal checking and savings accounts. GBank Financial Holdings Inc is based in Las Vegas, Nevada.