JonesTrading Has Lowered Expectations for GBank Financial (NASDAQ:GBFH) Stock Price

GBank Financial (NASDAQ:GBFH) had its target price lowered by equities researchers at JonesTrading from $50.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. JonesTrading’s target price suggests a potential upside of 68.11% from the company’s current price.

GBFH has been the subject of several other research reports. Zacks Research upgraded shares of GBank Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of GBank Financial in a report on Friday, July 24th. Raymond James Financial started coverage on GBank Financial in a research note on Friday, May 29th. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Wall Street Zen raised GBank Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

GBank Financial Price Performance

GBank Financial stock opened at $20.82 on Thursday. The stock has a market capitalization of $301.27 million, a P/E ratio of 16.27 and a beta of -0.11. The company’s fifty day moving average price is $30.01 and its 200 day moving average price is $29.90. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. GBank Financial has a 1 year low of $19.63 and a 1 year high of $42.23.

GBank Financial (NASDAQ:GBFH) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.10). The company had revenue of $21.95 million for the quarter, compared to analyst estimates of $21.80 million. GBank Financial had a return on equity of 14.62% and a net margin of 15.44%. As a group, equities research analysts anticipate that GBank Financial will post 2.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GBank Financial news, Director Charles William Jr. Griege purchased 24,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $29.00 per share, for a total transaction of $696,000.00. Following the completion of the transaction, the director owned 368,289 shares of the company’s stock, valued at $10,680,381. The trade was a 6.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GBFH. State of Alaska Department of Revenue purchased a new stake in shares of GBank Financial in the fourth quarter valued at approximately $25,000. Russell Investments Group Ltd. purchased a new position in GBank Financial during the third quarter worth approximately $30,000. BNP Paribas Financial Markets acquired a new position in GBank Financial during the second quarter worth $28,000. Legal & General Group Plc acquired a new position in GBank Financial during the second quarter worth $29,000. Finally, Quantbot Technologies LP acquired a new position in GBank Financial during the second quarter worth $69,000.

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.