Zacks Investment Research upgraded shares of Great Western Bancorp (NYSE:GWB) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $48.00 target price on the bank’s stock.
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. “
GWB has been the subject of a number of other research reports. Deutsche Bank boosted their price target on Great Western Bancorp from $43.00 to $44.00 and gave the company a buy rating in a report on Wednesday, November 8th. Stephens reiterated a buy rating and issued a $49.00 price target on shares of Great Western Bancorp in a report on Friday, January 26th. ValuEngine lowered Great Western Bancorp from a buy rating to a hold rating in a report on Thursday, November 9th. Keefe, Bruyette & Woods reissued a buy rating and issued a $51.00 price objective on shares of Great Western Bancorp in a research note on Thursday, January 25th. Finally, Royal Bank of Canada reissued a buy rating and issued a $50.00 price objective on shares of Great Western Bancorp in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $46.70.
Great Western Bancorp (NYSE:GWB) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.09. The firm had revenue of $117.30 million during the quarter, compared to analyst estimates of $118.85 million. Great Western Bancorp had a return on equity of 8.66% and a net margin of 27.04%. During the same quarter in the previous year, the business earned $0.63 earnings per share. research analysts expect that Great Western Bancorp will post 2.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Thursday, February 8th. Great Western Bancorp’s dividend payout ratio (DPR) is 34.48%.
In other news, insider Kenneth James Karels sold 1,510 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $45.00, for a total transaction of $67,950.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Peter Robert Chapman sold 2,265 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $40.57, for a total value of $91,891.05. Following the transaction, the chief financial officer now directly owns 16,964 shares in the company, valued at $688,229.48. The disclosure for this sale can be found here. Insiders sold 6,775 shares of company stock valued at $285,271 in the last three months. 0.33% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Great Western Bancorp by 3.4% during the fourth quarter. BlackRock Inc. now owns 7,582,407 shares of the bank’s stock worth $301,779,000 after purchasing an additional 246,788 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Great Western Bancorp by 8.1% during the third quarter. Macquarie Group Ltd. now owns 3,574,672 shares of the bank’s stock worth $147,562,000 after purchasing an additional 269,230 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Great Western Bancorp by 17.8% during the third quarter. Bank of New York Mellon Corp now owns 3,044,994 shares of the bank’s stock worth $125,698,000 after purchasing an additional 460,107 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Great Western Bancorp by 2.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,082,287 shares of the bank’s stock worth $82,875,000 after purchasing an additional 47,952 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Great Western Bancorp by 23.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,618,372 shares of the bank’s stock worth $66,805,000 after purchasing an additional 302,290 shares in the last quarter.
Great Western Bancorp Company Profile
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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