Franklin Resources Inc. cut its stake in Guaranty Bancorp (NASDAQ:GBNK) by 9.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,827,819 shares of the financial services provider’s stock after selling 182,500 shares during the period. Franklin Resources Inc. owned approximately 6.24% of Guaranty Bancorp worth $54,286,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Pacific Sun Financial Corp bought a new stake in Guaranty Bancorp in the 2nd quarter valued at $208,000. FMR LLC bought a new stake in Guaranty Bancorp in the 2nd quarter valued at $268,000. Russell Investments Group Ltd. bought a new stake in Guaranty Bancorp in the 3rd quarter valued at $560,000. Catalyst Capital Advisors LLC bought a new stake in Guaranty Bancorp in the 2nd quarter valued at $596,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Guaranty Bancorp in the 2nd quarter valued at $969,000. 72.80% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. BidaskClub downgraded shares of Guaranty Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday. ValuEngine downgraded shares of Guaranty Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Zacks Investment Research downgraded shares of Guaranty Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $32.50 price target on shares of Guaranty Bancorp in a report on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Guaranty Bancorp has an average rating of “Hold” and a consensus target price of $34.63.
Shares of GBNK stock opened at $23.49 on Friday. Guaranty Bancorp has a 52-week low of $23.09 and a 52-week high of $35.20. The firm has a market capitalization of $689.76 million, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.70.
Guaranty Bancorp (NASDAQ:GBNK) last announced its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Guaranty Bancorp had a net margin of 28.50% and a return on equity of 13.05%. The company had revenue of $41.06 million during the quarter, compared to analysts’ expectations of $41.31 million. As a group, equities research analysts forecast that Guaranty Bancorp will post 1.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 8th were paid a $0.1625 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Wednesday, November 7th. Guaranty Bancorp’s dividend payout ratio is 42.48%.
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Guaranty Bancorp Profile
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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