Hovde Group Cuts GBank Financial (NASDAQ:GBFH) Price Target to $42.00

GBank Financial (NASDAQ:GBFH) had its price objective reduced by Hovde Group from $44.00 to $42.00 in a research note published on Thursday, MarketBeat reports. They currently have an outperform rating on the stock.

Several other research analysts have also issued reports on the stock. Jones Trading reissued a “buy” rating and set a $55.00 target price on shares of GBank Financial in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of GBank Financial in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, GBank Financial currently has an average rating of “Moderate Buy” and an average price target of $46.00.

GBank Financial Stock Up 1.8%

Shares of GBFH opened at $32.53 on Thursday. The company has a 50-day moving average price of $34.05 and a two-hundred day moving average price of $37.21. The stock has a market cap of $467.78 million, a price-to-earnings ratio of 22.43 and a beta of -1.02. GBank Financial has a 12 month low of $27.30 and a 12 month high of $45.00. The company has a quick ratio of 0.95, a current ratio of 1.01 and a debt-to-equity ratio of 0.17.

GBank Financial (NASDAQ:GBFH) last announced its earnings results on Wednesday, January 28th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. GBank Financial had a net margin of 19.09% and a return on equity of 15.22%. The company had revenue of $20.43 million for the quarter.

Insider Buying and Selling

In related news, Chairman Edward Michael Nigro purchased 800 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were acquired at an average price of $34.06 per share, for a total transaction of $27,248.00. Following the purchase, the chairman directly owned 16,700 shares in the company, valued at $568,802. This trade represents a 5.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Tara Allyce Campbell sold 3,867 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $35.61, for a total transaction of $137,703.87. Following the completion of the sale, the chief operating officer directly owned 3,733 shares in the company, valued at approximately $132,932.13. This represents a 50.88% decrease in their position. The SEC filing for this sale provides additional information. 37.70% of the stock is owned by insiders.

Hedge Funds Weigh In On GBank Financial

Several institutional investors and hedge funds have recently modified their holdings of GBFH. State of Alaska Department of Revenue acquired a new stake in GBank Financial in the 4th quarter worth about $25,000. BNP Paribas Financial Markets acquired a new position in shares of GBank Financial in the 2nd quarter valued at $28,000. Legal & General Group Plc purchased a new stake in GBank Financial during the 2nd quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new position in GBank Financial in the third quarter worth $30,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of GBank Financial in the second quarter valued at $33,000.

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.