Great Western Bancorp (GWB) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Great Western Bancorp (NYSE:GWB) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Great Western Bancorp Inc. is a full-service regional bank holding company. It focuses on business and agribusiness banking, complemented by retail banking and wealth management services. The Bank’s loan portfolio consists primarily of business loans, comprised of commercial and industrial, and agribusiness loans. It also provides a range of deposit and loan products to its retail customers through several channels, including its branch network, online banking system, mobile banking applications and customer care centers. The Bank provides wealth management solutions consisting of financial planning, private banking, investment management, and trust services. Great Western Bancorp, Inc. is headquartered in Sioux Falls, South Dakota. “

A number of other brokerages have also issued reports on GWB. ValuEngine raised shares of Great Western Bancorp from a sell rating to a hold rating in a research note on Thursday, July 26th. Piper Jaffray Companies set a $37.00 price objective on Great Western Bancorp and gave the company a hold rating in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Great Western Bancorp currently has an average rating of Hold and a consensus target price of $46.00.

Shares of GWB opened at $36.44 on Tuesday. The firm has a market cap of $2.00 billion, a PE ratio of 12.17, a P/E/G ratio of 0.89 and a beta of 1.53. Great Western Bancorp has a 12-month low of $31.54 and a 12-month high of $46.03. The company has a quick ratio of 0.99, a current ratio of 0.98 and a debt-to-equity ratio of 0.15.

Great Western Bancorp (NYSE:GWB) last issued its earnings results on Thursday, October 25th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.06). The company had revenue of $121.25 million for the quarter, compared to analysts’ expectations of $125.89 million. Great Western Bancorp had a net margin of 28.43% and a return on equity of 9.51%. Analysts predict that Great Western Bancorp will post 3.2 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Friday, November 9th will be issued a $0.25 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.74%. Great Western Bancorp’s payout ratio is currently 34.48%.

In related news, insider Kenneth James Karels sold 5,000 shares of Great Western Bancorp stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $43.86, for a total value of $219,300.00. Following the completion of the sale, the insider now directly owns 30,373 shares in the company, valued at $1,332,159.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas Richard Bass sold 876 shares of Great Western Bancorp stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $43.25, for a total value of $37,887.00. Following the completion of the sale, the insider now owns 18,204 shares of the company’s stock, valued at $787,323. The disclosure for this sale can be found here. Insiders sold 11,822 shares of company stock valued at $519,123 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Suntrust Banks Inc. bought a new position in Great Western Bancorp in the first quarter worth about $202,000. First Quadrant L P CA bought a new position in Great Western Bancorp in the third quarter worth about $350,000. Victory Capital Management Inc. raised its holdings in Great Western Bancorp by 15.9% in the second quarter. Victory Capital Management Inc. now owns 8,568 shares of the bank’s stock worth $360,000 after purchasing an additional 1,175 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in Great Western Bancorp by 57.4% in the first quarter. Xact Kapitalforvaltning AB now owns 9,595 shares of the bank’s stock worth $386,000 after purchasing an additional 3,500 shares in the last quarter. Finally, UBS Group AG raised its holdings in Great Western Bancorp by 22.5% in the first quarter. UBS Group AG now owns 10,647 shares of the bank’s stock worth $428,000 after purchasing an additional 1,957 shares in the last quarter.

Great Western Bancorp Company Profile

Great Western Bancorp, Inc operates as the bank holding company for Great Western Bank that provides business and agribusiness banking, retail banking, and wealth management services. The company offers non-interest-bearing demand accounts, interest-bearing savings and money market accounts, individual retirement accounts, and time certificates of deposits, as well as NOW accounts.

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