Zacks Investment Research downgraded shares of Great Western Bancorp (NYSE:GWB) from a buy rating to a hold rating in a research note released on Wednesday morning.
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 analysts also recently issued reports on GWB. ValuEngine raised Great Western Bancorp from a hold rating to a buy rating in a report on Wednesday. Keefe, Bruyette & Woods reissued a buy rating and issued a $47.00 price target on shares of Great Western Bancorp in a report on Thursday, December 21st. Stephens reissued a buy rating and issued a $49.00 price target on shares of Great Western Bancorp in a report on Friday, January 26th. Royal Bank of Canada reissued a buy rating and issued a $50.00 price target on shares of Great Western Bancorp in a report on Thursday, January 25th. Finally, Deutsche Bank raised their price target on Great Western Bancorp from $43.00 to $44.00 and gave the stock a buy rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus 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, topping the consensus estimate of $0.63 by $0.09. The business had revenue of $117.30 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.63 EPS. analysts forecast that Great Western Bancorp will post 2.93 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.84%. The ex-dividend date was Thursday, February 8th. Great Western Bancorp’s dividend payout ratio is currently 34.48%.
In related news, EVP Stephen John Ulenberg sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $41.81, for a total value of $125,430.00. Following the sale, the executive vice president now directly owns 12,736 shares in the company, valued at approximately $532,492.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth James Karels sold 1,510 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $45.00, for a total value of $67,950.00. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of GWB. Bank of New York Mellon Corp increased its position in 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 valued at $125,698,000 after acquiring an additional 460,107 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Great Western Bancorp by 23.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,618,372 shares of the bank’s stock valued at $66,805,000 after purchasing an additional 302,290 shares during the period. Macquarie Group Ltd. increased its position in shares of Great Western Bancorp by 8.1% during the 3rd quarter. Macquarie Group Ltd. now owns 3,574,672 shares of the bank’s stock valued at $147,562,000 after purchasing an additional 269,230 shares during the period. BlackRock Inc. increased its position in shares of Great Western Bancorp by 3.4% during the 4th quarter. BlackRock Inc. now owns 7,582,407 shares of the bank’s stock valued at $301,779,000 after purchasing an additional 246,788 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Great Western Bancorp by 35.1% during the 4th quarter. Deutsche Bank AG now owns 391,301 shares of the bank’s stock valued at $15,571,000 after purchasing an additional 101,577 shares during the period.
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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