Guaranty Bancorp (GBNK) Raised 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 report issued on Monday. Zacks Investment Research currently has $29.00 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. “

Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods cut Guaranty Bancorp from an outperform rating to a market perform rating and increased their price objective for the stock from $26.00 to $27.00 in a research report on Thursday, July 20th. BidaskClub lowered Guaranty Bancorp from a buy rating to a hold rating in a report on Wednesday, July 19th. ValuEngine raised Guaranty Bancorp from a hold rating to a buy rating in a report on Friday, September 1st. Piper Jaffray Companies lowered Guaranty Bancorp from an overweight rating to a neutral rating and set a $28.00 target price on the stock. in a report on Tuesday, July 11th. Finally, DA Davidson started coverage on Guaranty Bancorp in a report on Friday, June 30th. They issued a buy rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $28.70.

Shares of Guaranty Bancorp (NASDAQ:GBNK) opened at 26.70 on Monday. Guaranty Bancorp has a 52 week low of $16.95 and a 52 week high of $28.10. The firm has a market cap of $745.41 million, a PE ratio of 21.69 and a beta of 0.98. The firm’s 50-day moving average is $25.94 and its 200 day moving average is $25.52.

Guaranty Bancorp (NASDAQ:GBNK) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The firm had revenue of $35.84 million during the quarter, compared to analysts’ expectations of $34.99 million. Guaranty Bancorp had a return on equity of 10.23% and a net margin of 23.00%. Equities research analysts forecast that Guaranty Bancorp will post $1.46 EPS for the current year.

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The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 18th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.87%. The ex-dividend date was Wednesday, August 16th. Guaranty Bancorp’s dividend payout ratio (DPR) is 40.98%.

In other news, Director Stephen D. Joyce bought 2,000 shares of the stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $25.79 per share, with a total value of $51,580.00. Following the completion of the acquisition, the director now owns 62,739 shares of the company’s stock, valued at $1,618,038.81. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul W. Taylor sold 15,676 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $26.58, for a total value of $416,668.08. Following the completion of the sale, the chief executive officer now directly owns 106,577 shares in the company, valued at approximately $2,832,816.66. The disclosure for this sale can be found here. Insiders sold 41,451 shares of company stock worth $1,102,999 in the last three months. 8.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Guaranty Bancorp by 9.8% in the second quarter. Vanguard Group Inc. now owns 960,376 shares of the financial services provider’s stock valued at $26,122,000 after purchasing an additional 85,642 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Guaranty Bancorp during the second quarter valued at $21,660,000. Dimensional Fund Advisors LP boosted its stake in shares of Guaranty Bancorp by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 681,195 shares of the financial services provider’s stock valued at $18,528,000 after acquiring an additional 43,006 shares during the last quarter. RMB Capital Management LLC boosted its stake in shares of Guaranty Bancorp by 16.9% during the first quarter. RMB Capital Management LLC now owns 555,253 shares of the financial services provider’s stock valued at $13,520,000 after acquiring an additional 80,100 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Guaranty Bancorp by 26.9% during the second quarter. Renaissance Technologies LLC now owns 532,320 shares of the financial services provider’s stock valued at $14,479,000 after acquiring an additional 112,700 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors.

About Guaranty Bancorp

Guaranty Bancorp is a bank holding company. The Company’s bank subsidiary is Guaranty Bank and Trust Company (the Bank). As of December 31, 2016, the Company operated 32 branches and two investment management firms, Private Capital Management LLC (PCM) and Cherry Hills Investment Advisors Inc (CHIA), in Colorado through the Bank.

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