Principal Financial Group Inc. purchased a new stake in Guaranty Bancorp (NASDAQ:GBNK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 232,329 shares of the financial services provider’s stock, valued at approximately $6,319,000. Principal Financial Group Inc. owned 0.83% of Guaranty Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Comerica Bank increased its holdings in shares of Guaranty Bancorp by 0.7% during the 2nd quarter. Comerica Bank now owns 30,548 shares of the financial services provider’s stock worth $816,000 after buying an additional 205 shares during the last quarter. United Capital Financial Advisers LLC lifted its holdings in Guaranty Bancorp by 0.5% in the first quarter. United Capital Financial Advisers LLC now owns 46,370 shares of the financial services provider’s stock valued at $1,129,000 after acquiring an additional 229 shares during the last quarter. Investment Centers of America Inc. lifted its holdings in Guaranty Bancorp by 3.5% in the first quarter. Investment Centers of America Inc. now owns 25,047 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 850 shares during the last quarter. Foresters Investment Management Company Inc. lifted its holdings in Guaranty Bancorp by 0.8% in the first quarter. Foresters Investment Management Company Inc. now owns 120,500 shares of the financial services provider’s stock valued at $2,934,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Guaranty Bancorp by 27.9% in the second quarter. Legal & General Group Plc now owns 6,053 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 1,320 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Shares of Guaranty Bancorp (NASDAQ GBNK) opened at 27.80 on Monday. The stock has a 50 day moving average of $25.94 and a 200-day moving average of $25.52. The stock has a market capitalization of $776.12 million, a P/E ratio of 22.58 and a beta of 1.00. Guaranty Bancorp has a 1-year low of $17.00 and a 1-year high of $28.10.

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

GBNK has been the subject of several analyst reports. Zacks Investment Research lowered Guaranty Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. ValuEngine raised Guaranty Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods set a $26.00 target price on Guaranty Bancorp and gave the company a “buy” rating in a research report on Saturday, June 24th. BidaskClub downgraded Guaranty Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Finally, DA Davidson initiated coverage on Guaranty Bancorp in a research note on Friday, June 30th. They issued a “buy” rating and a $32.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $28.70.

In other news, insider Michael B. Hobbs sold 7,948 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $26.63, for a total transaction of $211,655.24. Following the completion of the sale, the insider now directly owns 40,516 shares in the company, valued at approximately $1,078,941.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Paul W. Taylor sold 15,676 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $26.58, for a total value of $416,668.08. Following the sale, the chief executive officer now owns 106,577 shares of the company’s stock, valued at $2,832,816.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,451 shares of company stock worth $1,102,999. 8.40% of the stock is owned by company insiders.

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Guaranty Bancorp Profile

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.

Institutional Ownership by Quarter for Guaranty Bancorp (NASDAQ:GBNK)

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