Hovde Group Lowers GBank Financial (NASDAQ:GBFH) Price Target to $42.00

GBank Financial (NASDAQ:GBFH) had its target price reduced by analysts at Hovde Group from $44.00 to $42.00 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the stock. Hovde Group’s price objective points to a potential upside of 25.19% from the stock’s current price.

Several other equities research analysts have also weighed in on GBFH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GBank Financial in a report on Thursday, January 22nd. Jones Trading reaffirmed a “buy” rating and set a $55.00 price objective on shares of GBank Financial in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.00.

GBank Financial Price Performance

GBank Financial stock opened at $33.55 on Thursday. The business has a 50 day simple moving average of $34.08 and a 200 day simple moving average of $37.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.01 and a quick ratio of 0.95. The company has a market capitalization of $482.45 million, a PE ratio of 25.81 and a beta of -1.02. GBank Financial has a one year low of $27.30 and a one year high of $45.00.

GBank Financial (NASDAQ:GBFH) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $20.43 million for the quarter. GBank Financial had a return on equity of 13.94% and a net margin of 17.89%.

Insider Activity

In related news, Chairman Edward Michael Nigro acquired 800 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were purchased at an average price of $34.06 per share, with a total value of $27,248.00. Following the acquisition, the chairman directly owned 16,700 shares in the company, valued at $568,802. The trade was a 5.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles William Jr. Griege bought 25,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was bought at an average cost of $33.30 per share, with a total value of $832,500.00. Following the completion of the purchase, the director owned 344,289 shares of the company’s stock, valued at approximately $11,464,823.70. The trade was a 7.83% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 37.70% of the stock is currently owned by corporate insiders.

Institutional Trading of GBank Financial

Several hedge funds have recently modified their holdings of GBFH. State of Alaska Department of Revenue acquired a new stake in shares of GBank Financial in the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets acquired a new stake in shares of GBank Financial in the 2nd quarter valued at $28,000. Legal & General Group Plc acquired a new stake in shares of GBank Financial in the 2nd quarter valued at $29,000. Russell Investments Group Ltd. bought a new stake in shares of GBank Financial during the third quarter worth $30,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of GBank Financial during the second quarter valued at $33,000.

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.