Hovde Group Has Lowered Expectations for GBank Financial (NASDAQ:GBFH) Stock Price

GBank Financial (NASDAQ:GBFH) had its target price dropped by analysts at Hovde Group from $44.00 to $42.00 in a report issued on Thursday, Marketbeat reports. The firm currently has an “outperform” rating on the stock. Hovde Group’s price objective would suggest a potential upside of 29.11% from the stock’s current price.

A number of other analysts have also issued reports on GBFH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GBank Financial in a research report on Thursday, January 22nd. Jones Trading restated a “buy” rating and set a $55.00 price objective on shares of GBank Financial in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, GBank Financial has an average rating of “Moderate Buy” and a consensus price target of $46.00.

GBank Financial Trading Up 1.8%

NASDAQ GBFH opened at $32.53 on Thursday. The stock has a market cap of $467.65 million, a P/E ratio of 22.43 and a beta of -1.02. The company’s fifty day simple moving average is $34.05 and its 200-day simple moving average is $37.22. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17. GBank Financial has a 52 week low of $27.30 and a 52 week high of $45.00.

GBank Financial (NASDAQ:GBFH) last released its quarterly earnings results on Wednesday, January 28th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. GBank Financial had a net margin of 19.09% and a return on equity of 15.22%. The firm had revenue of $20.43 million for the quarter.

Insider Activity at GBank Financial

In other news, Director Charles William Jr. Griege bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was bought at an average price of $33.30 per share, for a total transaction of $832,500.00. Following the transaction, the director owned 344,289 shares in the company, valued at $11,464,823.70. The trade was a 7.83% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Edward Michael Nigro purchased 800 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $34.06 per share, with a total value of $27,248.00. Following the completion of the acquisition, the chairman directly owned 16,700 shares in the company, valued at approximately $568,802. The trade was a 5.03% increase in their position. The SEC filing for this purchase provides additional information. 37.70% of the stock is owned by corporate insiders.

Institutional Trading of GBank Financial

Several institutional investors have recently added to or reduced their stakes in the business. Arista Wealth Management LLC acquired a new stake in shares of GBank Financial during the second quarter worth $10,456,000. Geode Capital Management LLC acquired a new stake in GBank Financial during the second quarter worth about $7,323,000. Emerald Mutual Fund Advisers Trust bought a new position in GBank Financial in the second quarter worth about $3,087,000. Pekin Hardy Strauss Inc. acquired a new position in GBank Financial in the second quarter valued at approximately $1,832,000. Finally, JCSD Capital LLC acquired a new position in GBank Financial in the third quarter valued at approximately $1,603,000.

About GBank Financial

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.