GBank Financial (NASDAQ:GBFH) CEO Edward Michael Nigro Buys 9,200 Shares

GBank Financial Holdings Inc. (NASDAQ:GBFH) CEO Edward Michael Nigro acquired 9,200 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was purchased at an average cost of $21.51 per share, with a total value of $197,892.00. Following the completion of the acquisition, the chief executive officer owned 628,830 shares of the company’s stock, valued at $13,526,133.30. The trade was a 1.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

GBank Financial Trading Down 4.9%

NASDAQ:GBFH opened at $20.39 on Thursday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $29.53 and its two-hundred day moving average is $29.66. GBank Financial Holdings Inc. has a 52 week low of $19.63 and a 52 week high of $42.23. The company has a market cap of $295.04 million, a PE ratio of 15.93 and a beta of 0.05.

GBank Financial (NASDAQ:GBFH) last issued its earnings results on Wednesday, July 29th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.10). GBank Financial had a return on equity of 14.62% and a net margin of 15.44%.The firm had revenue of $21.95 million during the quarter, compared to analyst estimates of $21.80 million. On average, analysts predict that GBank Financial Holdings Inc. will post 1.87 EPS for the current year.

Analyst Upgrades and Downgrades

GBFH has been the subject of several recent research reports. JonesTrading lowered their target price on shares of GBank Financial from $50.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Zacks Research lowered shares of GBank Financial from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Wall Street Zen raised shares of GBank Financial from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GBank Financial in a research report on Friday, July 24th. Finally, Raymond James Financial started coverage on shares of GBank Financial in a research note on Friday, May 29th. They set an “outperform” rating and a $35.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new stake in GBank Financial in the second quarter valued at $151,000. Legal & General Group Plc bought a new position in shares of GBank Financial during the second quarter worth about $29,000. Rhumbline Advisers bought a new position in shares of GBank Financial during the second quarter worth about $334,000. New York State Common Retirement Fund acquired a new stake in shares of GBank Financial in the 2nd quarter worth about $103,000. Finally, Quantbot Technologies LP acquired a new stake in shares of GBank Financial in the 2nd quarter worth about $69,000.

Trending Headlines about GBank Financial

Here are the key news stories impacting GBank Financial this week:

• Positive Sentiment: CEO Jeffrey K. Newgard purchased 13,065 shares at an average of $21.54, investing approximately $281,420. The purchase increased his reported ownership to 21,661 shares. SEC filing
• Positive Sentiment: Newgard also reported buying 19,198 shares at an average price of $21.75, representing an investment of approximately $417,557. The filings indicate significant additional insider exposure to GBFH. SEC filing
• Positive Sentiment: Director Timothy P. Herbst acquired 10,000 shares at $21.50 per share, investing $215,000 and increasing his holding to 327,126 shares. SEC filing
• Positive Sentiment: CEO Edward Michael Nigro purchased 9,200 shares at an average of $21.51, spending approximately $197,892. His direct ownership rose to 628,830 shares. SEC filing
• Positive Sentiment: Insider Todd Anthony Nigro bought 5,000 shares at $21.07, adding approximately $105,350 to his position and increasing his ownership to 286,494 shares. SEC filing

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.