Guaranty Bancorp (GBNK) Rating Lowered to Hold at BidaskClub

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BidaskClub cut shares of Guaranty Bancorp (NASDAQ:GBNK) from a buy rating to a hold rating in a report issued on Wednesday.

Several other brokerages also recently commented on GBNK. Zacks Investment Research upgraded shares of Guaranty Bancorp from a hold rating to a buy rating and set a $33.00 price objective for the company in a research report on Friday, April 20th. DA Davidson downgraded shares of Guaranty Bancorp from a buy rating to a neutral rating and set a $32.00 price objective for the company. in a research report on Wednesday, May 23rd. Finally, ValuEngine downgraded shares of Guaranty Bancorp from a buy rating to a hold rating in a research report on Wednesday, April 18th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Guaranty Bancorp presently has an average rating of Hold and an average target price of $31.00.

Guaranty Bancorp opened at $32.15 on Wednesday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.93 and a quick ratio of 0.93. Guaranty Bancorp has a 1-year low of $24.70 and a 1-year high of $35.20. The company has a market capitalization of $941.99 million, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.71 and a beta of 0.91.

Guaranty Bancorp (NASDAQ:GBNK) last released its quarterly earnings results on Wednesday, April 18th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Guaranty Bancorp had a net margin of 25.61% and a return on equity of 12.00%. The company had revenue of $39.06 million during the quarter, compared to the consensus estimate of $39.32 million. sell-side analysts anticipate that Guaranty Bancorp will post 1.88 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Friday, May 18th were given a dividend of $0.162 per share. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $0.65 annualized dividend and a yield of 2.02%. Guaranty Bancorp’s dividend payout ratio is currently 42.48%.

In other Guaranty Bancorp news, EVP Keith Dickelman sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, April 23rd. The shares were sold at an average price of $29.40, for a total transaction of $58,800.00. Following the completion of the transaction, the executive vice president now directly owns 25,512 shares in the company, valued at $750,052.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Patrick Dan O’brien sold 1,516 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $28.84, for a total transaction of $43,721.44. Following the transaction, the executive vice president now owns 21,748 shares of the company’s stock, valued at $627,212.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,336 shares of company stock valued at $126,301. Company insiders own 8.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in GBNK. Schwab Charles Investment Management Inc. raised its position in Guaranty Bancorp by 9.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 105,985 shares of the financial services provider’s stock valued at $2,931,000 after purchasing an additional 9,190 shares in the last quarter. Engineers Gate Manager LP grew its stake in shares of Guaranty Bancorp by 62.3% during the fourth quarter. Engineers Gate Manager LP now owns 20,300 shares of the financial services provider’s stock worth $561,000 after buying an additional 7,794 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Guaranty Bancorp by 6.3% during the fourth quarter. Victory Capital Management Inc. now owns 47,028 shares of the financial services provider’s stock worth $1,300,000 after buying an additional 2,782 shares during the last quarter. Comerica Bank grew its stake in shares of Guaranty Bancorp by 37.0% during the fourth quarter. Comerica Bank now owns 43,208 shares of the financial services provider’s stock worth $1,247,000 after buying an additional 11,660 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Guaranty Bancorp during the fourth quarter worth $228,000. Institutional investors and hedge funds own 71.57% of the company’s stock.

About Guaranty Bancorp

Guaranty Bancorp operates as the bank holding company for Guaranty Bank and Trust Company that provides various banking and other financial services to consumers, and small to medium-sized businesses. The company accepts deposit products, such as demand, interest-bearing demand, NOW, money market, IRA, and time deposits, and savings accounts, as well as certificates of deposit.

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