GBank Financial (NASDAQ:GBFH) Releases Earnings Results, Misses Expectations By $0.12 EPS

GBank Financial (NASDAQ:GBFH) posted its quarterly earnings data on Wednesday. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.12), FiscalAI reports. GBank Financial had a return on equity of 14.46% and a net margin of 15.62%.

GBank Financial Trading Down 1.4%

Shares of GBFH stock traded down $0.42 during trading hours on Wednesday, hitting $29.92. 45,135 shares of the company were exchanged, compared to its average volume of 64,685. The firm has a market cap of $432.94 million, a P/E ratio of 24.33 and a beta of -0.11. GBank Financial has a fifty-two week low of $23.87 and a fifty-two week high of $42.23. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The company has a 50 day simple moving average of $30.30 and a two-hundred day simple moving average of $30.05.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GBFH. Zacks Research upgraded shares of GBank Financial from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Raymond James Financial assumed coverage on shares of GBank Financial in a research report on Friday, May 29th. They set an “outperform” rating and a $35.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of GBank Financial in a research report on Friday. JonesTrading reissued a “buy” rating and issued a $50.00 price objective on shares of GBank Financial in a research report on Thursday, April 30th. Finally, Wall Street Zen raised GBank Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.33.

Insider Buying and Selling at GBank Financial

In related news, Director Charles William Jr. Griege bought 24,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of $29.00 per share, with a total value of $696,000.00. Following the completion of the purchase, the director directly owned 368,289 shares in the company, valued at $10,680,381. The trade was a 6.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GBank Financial

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in shares of GBank Financial during the 2nd quarter worth about $151,000. Legal & General Group Plc bought a new stake in GBank Financial in the 2nd quarter valued at about $29,000. Rhumbline Advisers acquired a new position in GBank Financial during the 2nd quarter worth approximately $334,000. New York State Common Retirement Fund acquired a new position in GBank Financial during the 2nd quarter worth approximately $103,000. Finally, Quantbot Technologies LP acquired a new stake in GBank Financial in the second quarter valued at approximately $69,000.

About GBank Financial

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.