Guaranty Bancorp (GBNK) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Guaranty Bancorp (NASDAQ:GBNK) from a hold rating to a buy rating in a research note published on Friday. The firm currently has $33.00 target price on the financial services provider’s stock.

According to Zacks, “GUARANTY BANCORP is a bank holding company with one wholly owned bank subsidiary, Guaranty Bank and Trust Company. Guaranty Bank and Trust Company provides banking and other financial services, including real estate, construction, commercial and industrial, energy, consumer and agriculture loans, to consumers and small and medium-sized businesses, including the owners and employees of those businesses, through 36 community banking branches in the Colorado Front Range. Guaranty Bank also provides trust services, including personal trust administration, estate settlement, investment management accounts and self-directed IRAs. “

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GBNK has been the topic of several other research reports. BidaskClub upgraded Guaranty Bancorp from a strong sell rating to a sell rating in a research note on Monday, February 5th. ValuEngine cut Guaranty Bancorp from a buy rating to a hold rating in a research note on Tuesday, December 26th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $31.00 price objective on shares of Guaranty Bancorp in a research note on Friday, December 22nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Guaranty Bancorp has a consensus rating of Hold and an average target price of $31.00.

Shares of NASDAQ GBNK opened at $29.35 on Friday. Guaranty Bancorp has a 52-week low of $24.05 and a 52-week high of $30.42. The company has a market cap of $862.87, a price-to-earnings ratio of 19.18, a PEG ratio of 1.57 and a beta of 0.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.94 and a current ratio of 0.94.

Guaranty Bancorp (NASDAQ:GBNK) last announced its quarterly earnings data on Wednesday, April 18th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Guaranty Bancorp had a return on equity of 12.22% and a net margin of 25.61%. The firm had revenue of $39.06 million for the quarter, compared to analysts’ expectations of $39.32 million. equities research analysts predict that Guaranty Bancorp will post 1.88 EPS for the current fiscal year.

In other news, CFO Christopher G. Treece sold 4,689 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $27.91, for a total transaction of $130,869.99. Following the completion of the transaction, the chief financial officer now directly owns 41,744 shares of the company’s stock, valued at $1,165,075.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick Dan O’brien sold 1,516 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $29.35, for a total value of $44,494.60. Following the transaction, the executive vice president now directly owns 23,744 shares of the company’s stock, valued at $696,886.40. The disclosure for this sale can be found here. Insiders have sold 32,158 shares of company stock valued at $910,344 over the last ninety days. Corporate insiders own 8.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of GBNK. Millennium Management LLC grew its holdings in Guaranty Bancorp by 46.2% in the 4th quarter. Millennium Management LLC now owns 908,343 shares of the financial services provider’s stock worth $25,116,000 after buying an additional 287,084 shares in the last quarter. BlackRock Inc. grew its holdings in Guaranty Bancorp by 8.6% in the 4th quarter. BlackRock Inc. now owns 1,498,236 shares of the financial services provider’s stock worth $41,428,000 after buying an additional 118,505 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Guaranty Bancorp by 12.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 763,698 shares of the financial services provider’s stock worth $21,231,000 after buying an additional 82,503 shares in the last quarter. Atlantic Trust Group LLC bought a new position in Guaranty Bancorp in the 3rd quarter worth approximately $2,163,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in Guaranty Bancorp by 148.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 96,795 shares of the financial services provider’s stock worth $2,691,000 after buying an additional 57,875 shares in the last quarter. 69.98% of the stock is owned by institutional investors and hedge funds.

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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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