Great Western Bancorp (NYSE:GWB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, January 9th. The brokerage currently has a $46.00 price objective on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 7.03% from the stock’s current price.
According to Zacks, “Great Western Bancorp Inc. is a full-service regional bank holding company. It focuses on business and agribusiness banking, complemented by retail banking and wealth management services. The Bank’s loan portfolio consists primarily of business loans, comprised of commercial and industrial, and agribusiness loans. It also provides a range of deposit and loan products to its retail customers through several channels, including its branch network, online banking system, mobile banking applications and customer care centers. The Bank provides wealth management solutions consisting of financial planning, private banking, investment management, and trust services. Great Western Bancorp, Inc. is headquartered in Sioux Falls, South Dakota. “
Several other brokerages also recently issued reports on GWB. ValuEngine upgraded Great Western Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $47.00 price objective on shares of Great Western Bancorp in a research note on Thursday, December 21st. B. Riley downgraded Great Western Bancorp from a “buy” rating to a “neutral” rating and set a $44.00 price objective for the company. in a research note on Wednesday, November 1st. Piper Jaffray Companies reiterated a “hold” rating and set a $40.00 price target on shares of Great Western Bancorp in a research note on Friday, October 27th. Finally, FBR & Co downgraded Great Western Bancorp from a “buy” rating to a “neutral” rating and set a $44.00 price target for the company. in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Great Western Bancorp presently has an average rating of “Hold” and an average target price of $45.40.
Great Western Bancorp (NYSE:GWB) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Great Western Bancorp had a return on equity of 8.45% and a net margin of 29.09%. The business had revenue of $116.50 million during the quarter, compared to the consensus estimate of $117.75 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. research analysts predict that Great Western Bancorp will post 2.81 EPS for the current fiscal year.
In related news, CFO Peter Robert Chapman sold 2,265 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $40.57, for a total transaction of $91,891.05. Following the transaction, the chief financial officer now directly owns 16,964 shares in the company, valued at approximately $688,229.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Stephen John Ulenberg sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.80, for a total value of $125,400.00. Following the transaction, the executive vice president now owns 14,136 shares in the company, valued at $590,884.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,225 shares of company stock worth $1,787,517. Insiders own 0.33% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in shares of Great Western Bancorp by 17.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,044,994 shares of the bank’s stock worth $125,698,000 after buying an additional 460,107 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of Great Western Bancorp by 13.4% in the 2nd quarter. Macquarie Group Ltd. now owns 3,305,442 shares of the bank’s stock worth $134,895,000 after buying an additional 389,922 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Great Western Bancorp by 32.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,316,082 shares of the bank’s stock worth $53,710,000 after buying an additional 320,067 shares during the last quarter. State Street Corp grew its position in shares of Great Western Bancorp by 10.6% in the 2nd quarter. State Street Corp now owns 2,699,137 shares of the bank’s stock worth $110,148,000 after buying an additional 259,443 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its position in shares of Great Western Bancorp by 13.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,796,874 shares of the bank’s stock worth $73,157,000 after buying an additional 210,971 shares during the last quarter.
About Great Western Bancorp
Great Western Bancorp, Inc is a full-service regional bank holding company. The Company is the holding company of the Great Western Bank (the Bank). As of September 30, 2016, the Company served customers through 173 branches in various markets in Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.
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