Piper Jaffray Companies Lowers Guaranty Bancorp (NASDAQ:GBNK) to Neutral

Piper Jaffray Companies lowered shares of Guaranty Bancorp (NASDAQ:GBNK) from an overweight rating to a neutral rating in a research report report published on Tuesday, July 11th, Marketbeat.com reports. The brokerage currently has $28.00 target price on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on GBNK. Keefe, Bruyette & Woods set a $26.00 price target on shares of Guaranty Bancorp and gave the company a buy rating in a research report on Saturday, June 24th. DA Davidson began coverage on shares of Guaranty Bancorp in a research report on Friday, June 30th. They set a buy rating and a $32.00 price target on the stock. ValuEngine raised shares of Guaranty Bancorp from a hold rating to a buy rating in a research report on Friday, June 2nd. Hovde Group lifted their price target on shares of Guaranty Bancorp from $26.50 to $27.50 and gave the company an outperform rating in a research report on Thursday, April 20th. Finally, Zacks Investment Research raised shares of Guaranty Bancorp from a hold rating to a buy rating and set a $29.00 target price on the stock in a research report on Monday, April 24th. One investment 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’s stock. The stock currently has a consensus rating of Hold and an average target price of $28.90.

Shares of Guaranty Bancorp (NASDAQ GBNK) opened at 26.40 on Tuesday. The company’s 50-day moving average is $26.77 and its 200 day moving average is $25.20. The stock has a market capitalization of $737.04 million, a P/E ratio of 21.45 and a beta of 0.98. Guaranty Bancorp has a 52 week low of $16.35 and a 52 week high of $28.10.

Guaranty Bancorp (NASDAQ:GBNK) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $35.84 million for the quarter, compared to analysts’ expectations of $34.99 million. Guaranty Bancorp had a net margin of 23.00% and a return on equity of 10.23%. On average, equities analysts forecast that Guaranty Bancorp will post $1.46 EPS for the current fiscal year.

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In other news, EVP Cathy P. Goss sold 3,793 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $26.82, for a total transaction of $101,728.26. Following the transaction, the executive vice president now directly owns 66,292 shares of the company’s stock, valued at $1,777,951.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Cathy P. Goss sold 4,225 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $26.55, for a total transaction of $112,173.75. Following the transaction, the executive vice president now directly owns 66,292 shares in the company, valued at $1,760,052.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,451 shares of company stock worth $1,102,999. Corporate insiders own 8.40% of the company’s stock.

Several hedge funds have recently modified their holdings of GBNK. State Street Corp raised its stake in shares of Guaranty Bancorp by 8.3% in the fourth quarter. State Street Corp now owns 263,191 shares of the financial services provider’s stock worth $6,371,000 after buying an additional 20,114 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Guaranty Bancorp during the fourth quarter worth about $273,000. Dimensional Fund Advisors LP raised its stake in shares of Guaranty Bancorp by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 571,115 shares of the financial services provider’s stock worth $13,821,000 after buying an additional 70,127 shares during the period. Renaissance Technologies LLC raised its stake in shares of Guaranty Bancorp by 51.2% in the fourth quarter. Renaissance Technologies LLC now owns 432,441 shares of the financial services provider’s stock worth $10,465,000 after buying an additional 146,421 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Guaranty Bancorp by 9.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,693 shares of the financial services provider’s stock worth $307,000 after buying an additional 1,092 shares during the period. Institutional investors and hedge funds own 69.32% of the company’s stock.

About Guaranty Bancorp

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.

Analyst Recommendations for Guaranty Bancorp (NASDAQ:GBNK)

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