JonesTrading Reaffirms Buy Rating for GBank Financial (NASDAQ:GBFH)

GBank Financial (NASDAQ:GBFH)‘s stock had its “buy” rating reissued by stock analysts at JonesTrading in a note issued to investors on Thursday,Benzinga reports. They currently have a $35.00 target price on the stock. JonesTrading’s price target indicates a potential upside of 68.67% from the stock’s current price.

Other research analysts also recently issued reports about the company. Raymond James Financial started coverage on GBank Financial in a research note on Friday, May 29th. They issued an “outperform” rating and a $35.00 price target for the company. Zacks Research cut shares of GBank Financial from a “hold” rating to a “strong sell” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GBank Financial in a report on Friday, July 24th. Finally, Wall Street Zen upgraded GBank Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, GBank Financial has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

GBank Financial Stock Down 0.1%

Shares of GBFH stock traded down $0.03 during trading on Thursday, reaching $20.75. The company’s stock had a trading volume of 110,324 shares, compared to its average volume of 72,863. The business has a fifty day moving average price of $27.81 and a 200-day moving average price of $28.81. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The company has a market cap of $301.29 million, a price-to-earnings ratio of 16.21 and a beta of 0.05. GBank Financial has a one year low of $19.63 and a one year high of $42.23.

GBank Financial (NASDAQ:GBFH) last released its earnings results on Wednesday, July 29th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.10). GBank Financial had a net margin of 15.44% and a return on equity of 14.42%. The business had revenue of $21.95 million during the quarter, compared to the consensus estimate of $21.80 million. Analysts anticipate that GBank Financial will post 1.59 earnings per share for the current year.

Insider Transactions at GBank Financial

In other GBank Financial news, Director Timothy P. Herbst bought 10,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were purchased at an average price of $21.50 per share, for a total transaction of $215,000.00. Following the completion of the transaction, the director directly owned 327,126 shares in the company, valued at approximately $7,033,209. The trade was a 3.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey K. Newgard acquired 19,198 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were bought at an average price of $21.75 per share, with a total value of $417,556.50. Following the completion of the transaction, the chief executive officer owned 12,889 shares in the company, valued at $280,335.75. This represents a -304.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 109,463 shares of company stock worth $2,554,969. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of GBank Financial

Institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new position in shares of GBank Financial during the 4th quarter valued at $25,000. BNP Paribas Financial Markets purchased a new stake in GBank Financial in the second quarter worth $28,000. Legal & General Group Plc purchased a new position in GBank Financial in the 2nd quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new position in GBank Financial during the 3rd quarter valued at about $30,000. Finally, Quantbot Technologies LP bought a new stake in GBank Financial during the 2nd quarter worth approximately $69,000.

GBank Financial Company 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.