Guaranty Bancorp (GBNK) Sets New 52-Week Low at $23.09

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Guaranty Bancorp (NASDAQ:GBNK) hit a new 52-week low on Thursday . The company traded as low as $23.09 and last traded at $23.45, with a volume of 7538 shares trading hands. The stock had previously closed at $23.98.

A number of brokerages recently weighed in on GBNK. BidaskClub cut shares of Guaranty Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday. Piper Jaffray Companies reiterated a “hold” rating and issued a $32.50 price target on shares of Guaranty Bancorp in a research report on Friday, August 10th. Zacks Investment Research cut shares of Guaranty Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, ValuEngine cut shares of Guaranty Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.63.

The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $689.76 million, a P/E ratio of 15.35, a PEG ratio of 1.21 and a beta of 0.92.

Guaranty Bancorp (NASDAQ:GBNK) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Guaranty Bancorp had a net margin of 28.50% and a return on equity of 13.05%. The firm had revenue of $41.06 million for the quarter, compared to analysts’ expectations of $41.31 million. As a group, sell-side analysts expect that Guaranty Bancorp will post 1.95 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 8th were issued a dividend of $0.1625 per share. The ex-dividend date was Wednesday, November 7th. This represents a $0.65 annualized dividend and a yield of 2.77%. Guaranty Bancorp’s payout ratio is presently 42.48%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its holdings in Guaranty Bancorp by 54.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,099,120 shares of the financial services provider’s stock worth $32,754,000 after buying an additional 389,200 shares during the period. Dimensional Fund Advisors LP raised its holdings in Guaranty Bancorp by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 893,881 shares of the financial services provider’s stock worth $26,638,000 after buying an additional 31,025 shares during the period. BlackRock Inc. raised its holdings in Guaranty Bancorp by 20.9% during the 2nd quarter. BlackRock Inc. now owns 1,890,839 shares of the financial services provider’s stock worth $56,347,000 after buying an additional 327,287 shares during the period. SG Americas Securities LLC acquired a new stake in Guaranty Bancorp during the 2nd quarter worth about $5,965,000. Finally, IndexIQ Advisors LLC acquired a new stake in Guaranty Bancorp during the 2nd quarter worth about $2,175,000. Hedge funds and other institutional investors own 72.80% of the company’s stock.

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About Guaranty Bancorp (NASDAQ:GBNK)

Guaranty Bancorp operates as the bank holding company for Guaranty Bank and Trust Company that provides various banking and other financial services to consumers, and small to medium-sized businesses. The company accepts deposit products, such as demand, interest-bearing demand, NOW, money market, IRA, and time deposits, and savings accounts, as well as certificates of deposit.

Read More: Return on Equity (ROE)

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