Guaranty Bancorp (NASDAQ:GBNK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, July 21st. The firm currently has a $30.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.29% from the stock’s previous close.
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. “
Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods set a $26.00 price objective on Guaranty Bancorp and gave the company a “buy” rating in a research report on Saturday, June 24th. BidaskClub downgraded Guaranty Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. 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. DA Davidson began coverage on Guaranty Bancorp in a report on Friday, June 30th. They set a “buy” rating and a $32.00 price target for the company. Finally, ValuEngine upgraded Guaranty Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $28.90.
Guaranty Bancorp (NASDAQ GBNK) traded up 1.25% during mid-day trading on Friday, hitting $26.25. 103,648 shares of the stock traded hands. The company has a 50-day moving average of $26.78 and a 200 day moving average of $25.33. The firm has a market capitalization of $732.85 million, a P/E ratio of 21.32 and a beta of 0.98. Guaranty Bancorp has a 1-year low of $16.35 and a 1-year high of $28.10.
Guaranty Bancorp (NASDAQ:GBNK) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $35.84 million during the quarter, compared to analyst estimates of $34.99 million. Guaranty Bancorp had a return on equity of 10.23% and a net margin of 23.00%. On average, equities research analysts anticipate that Guaranty Bancorp will post $1.46 EPS for the current year.
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In other Guaranty Bancorp news, CEO Paul W. Taylor sold 15,676 shares of Guaranty Bancorp stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $26.58, for a total value of $416,668.08. Following the sale, the chief executive officer now owns 106,577 shares of the company’s stock, valued at approximately $2,832,816.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael B. Hobbs sold 7,948 shares of Guaranty Bancorp stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $26.63, for a total value of $211,655.24. Following the completion of the sale, the insider now directly owns 40,516 shares in the company, valued at approximately $1,078,941.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,451 shares of company stock worth $1,102,999. Insiders own 8.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System increased its position in shares of Guaranty Bancorp by 18.5% in the second quarter. California State Teachers Retirement System now owns 41,578 shares of the financial services provider’s stock valued at $1,131,000 after buying an additional 6,500 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Guaranty Bancorp by 27.4% in the second quarter. The Manufacturers Life Insurance Company now owns 18,486 shares of the financial services provider’s stock valued at $503,000 after buying an additional 3,980 shares during the period. State Street Corp increased its position 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. Broadview Advisors LLC boosted its stake in shares of Guaranty Bancorp by 0.7% in the second quarter. Broadview Advisors LLC now owns 352,417 shares of the financial services provider’s stock valued at $9,586,000 after buying an additional 2,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Guaranty Bancorp during the second quarter valued at $21,660,000. 70.19% of the stock is currently owned by institutional investors.
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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