Wall Street Zen Upgrades GBank Financial (NASDAQ:GBFH) to Hold

GBank Financial (NASDAQ:GBFH) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

GBFH has been the topic of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of GBank Financial in a report on Thursday, January 22nd. Hovde Group lowered their target price on GBank Financial from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, January 29th. Finally, JonesTrading dropped their price target on GBank Financial from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, GBank Financial currently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

GBank Financial Price Performance

Shares of GBFH stock opened at $29.05 on Friday. The company has a market capitalization of $417.62 million, a P/E ratio of 20.03 and a beta of -0.87. The company’s 50-day simple moving average is $32.53 and its two-hundred day simple moving average is $35.89. GBank Financial has a one year low of $27.30 and a one year high of $45.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.01 and a quick ratio of 0.95.

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

Insider Activity

In other news, CFO Jeffery Ernest Whicker sold 7,125 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $29.98, for a total value of $213,607.50. Following the completion of the sale, the chief financial officer owned 13,450 shares of the company’s stock, valued at approximately $403,231. This represents a 34.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Tara Allyce Campbell sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $31.41, for a total transaction of $219,870.00. Following the transaction, the chief operating officer owned 8,399 shares in the company, valued at approximately $263,812.59. This represents a 45.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 39,000 shares of company stock valued at $1,181,469. Company insiders own 37.70% of the company’s stock.

Institutional Trading of GBank Financial

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC bought a new position in shares of GBank Financial during the 2nd quarter worth approximately $7,323,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in GBank Financial in the second quarter valued at approximately $74,000. JPMorgan Chase & Co. acquired a new stake in GBank Financial in the second quarter valued at approximately $151,000. Legal & General Group Plc purchased a new position in GBank Financial in the second quarter worth $29,000. Finally, Rhumbline Advisers purchased a new position in GBank Financial in the second quarter worth $334,000.

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.