GBank Financial (NASDAQ:GBFH) CEO Jeffrey Newgard Purchases 19,198 Shares

GBank Financial Holdings Inc. (NASDAQ:GBFH) CEO Jeffrey Newgard bought 19,198 shares of the stock in a transaction on Monday, August 3rd. The stock was purchased at an average cost of $21.75 per share, for a total transaction of $417,556.50. Following the acquisition, the chief executive officer directly owned 12,889 shares of the company’s stock, valued at $280,335.75. The trade was a -304.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

GBank Financial Trading Down 4.9%

Shares of GBank Financial stock opened at $20.39 on Thursday. GBank Financial Holdings Inc. has a 1 year low of $19.63 and a 1 year high of $42.23. The company has a market capitalization of $295.04 million, a P/E ratio of 15.93 and a beta of 0.05. The business has a 50 day moving average price of $29.53 and a 200 day moving average price of $29.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96.

GBank Financial (NASDAQ:GBFH) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.10). The company had revenue of $21.95 million for the quarter, compared to analyst estimates of $21.80 million. GBank Financial had a net margin of 15.44% and a return on equity of 14.62%. Sell-side analysts anticipate that GBank Financial Holdings Inc. will post 1.87 EPS for the current fiscal year.

Key Headlines Impacting GBank Financial

Here are the key news stories impacting GBank Financial this week:

• Positive Sentiment: CEO Jeffrey K. Newgard purchased 13,065 shares at an average of $21.54, investing approximately $281,420. The purchase increased his reported ownership to 21,661 shares. SEC filing
• Positive Sentiment: Newgard also reported buying 19,198 shares at an average price of $21.75, representing an investment of approximately $417,557. The filings indicate significant additional insider exposure to GBFH. SEC filing
• Positive Sentiment: Director Timothy P. Herbst acquired 10,000 shares at $21.50 per share, investing $215,000 and increasing his holding to 327,126 shares. SEC filing
• Positive Sentiment: CEO Edward Michael Nigro purchased 9,200 shares at an average of $21.51, spending approximately $197,892. His direct ownership rose to 628,830 shares. SEC filing
• Positive Sentiment: Insider Todd Anthony Nigro bought 5,000 shares at $21.07, adding approximately $105,350 to his position and increasing his ownership to 286,494 shares. SEC filing

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of GBank Financial by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 526,122 shares of the company’s stock worth $20,661,000 after purchasing an additional 2,951 shares during the last quarter. Chapin Davis Inc. lifted its position in shares of GBank Financial by 5.1% during the fourth quarter. Chapin Davis Inc. now owns 219,350 shares of the company’s stock worth $7,434,000 after purchasing an additional 10,600 shares during the last quarter. State Street Corp grew its stake in GBank Financial by 2.2% in the fourth quarter. State Street Corp now owns 190,548 shares of the company’s stock worth $6,458,000 after purchasing an additional 4,111 shares in the last quarter. Kennedy Capital Management LLC raised its stake in GBank Financial by 37.0% during the fourth quarter. Kennedy Capital Management LLC now owns 126,509 shares of the company’s stock valued at $4,287,000 after buying an additional 34,158 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its stake in GBank Financial by 19.6% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 118,000 shares of the company’s stock valued at $3,158,000 after buying an additional 19,311 shares in the last quarter.

Analyst Ratings Changes

GBFH has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of GBank Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Raymond James Financial started coverage on shares of GBank Financial in a research report on Friday, May 29th. They set an “outperform” rating and a $35.00 target price on the stock. Wall Street Zen raised shares of GBank Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Weiss Ratings reissued a “hold (c)” rating on shares of GBank Financial in a report on Friday, July 24th. Finally, JonesTrading lowered their price objective on GBank Financial from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.33.

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.