GBank Financial (NASDAQ:GBFH) Coverage Initiated at Hovde Group

Hovde Group started coverage on shares of GBank Financial (NASDAQ:GBFH) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $44.00 price target on the stock. Hovde Group’s price objective would indicate a potential upside of 36.56% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Jones Trading reaffirmed a “buy” rating and issued a $55.00 target price on shares of GBank Financial in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of GBank Financial in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.50.

GBank Financial Price Performance

NASDAQ GBFH traded up $0.20 on Tuesday, hitting $32.22. 1,020 shares of the company’s stock were exchanged, compared to its average volume of 60,527. The stock has a market cap of $463.32 million, a price-to-earnings ratio of 24.78 and a beta of -1.02. The firm has a 50-day moving average price of $34.31. GBank Financial has a fifty-two week low of $27.30 and a fifty-two week high of $45.00. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17.

GBank Financial (NASDAQ:GBFH) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $0.30 earnings per share for the quarter. GBank Financial had a return on equity of 13.94% and a net margin of 17.89%.The firm had revenue of $20.18 million for the quarter.

Insider Buying and Selling

In other GBank Financial news, Chairman Edward Michael Nigro acquired 800 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was bought at an average cost of $34.06 per share, for a total transaction of $27,248.00. Following the completion of the purchase, the chairman directly owned 16,700 shares in the company, valued at $568,802. This represents a 5.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Tara Allyce Campbell sold 3,867 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $35.61, for a total transaction of $137,703.87. Following the completion of the sale, the chief operating officer directly owned 3,733 shares of the company’s stock, valued at $132,932.13. The trade was a 50.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 37.70% of the company’s stock.

Hedge Funds Weigh In On GBank Financial

Several hedge funds and other institutional investors have recently bought and sold shares of GBFH. JCSD Capital LLC bought a new stake in GBank Financial during the third quarter valued at $1,603,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of GBank Financial in the 2nd quarter worth about $74,000. Corsair Capital Management L.P. bought a new stake in GBank Financial in the 2nd quarter valued at about $621,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of GBank Financial during the second quarter valued at approximately $3,087,000. Finally, Geode Capital Management LLC bought a new position in GBank Financial in the 2nd quarter worth approximately $7,323,000.

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.