Guaranty Bancorp (GBNK) Position Trimmed by Millennium Management LLC

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Millennium Management LLC reduced its position in Guaranty Bancorp (NASDAQ:GBNK) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 867,857 shares of the financial services provider’s stock after selling 40,486 shares during the period. Millennium Management LLC owned about 2.96% of Guaranty Bancorp worth $24,604,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GBNK. Schwab Charles Investment Management Inc. raised its holdings in Guaranty Bancorp by 9.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 105,985 shares of the financial services provider’s stock worth $2,931,000 after acquiring an additional 9,190 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Guaranty Bancorp during the 4th quarter valued at $228,000. Wells Fargo & Company MN raised its stake in Guaranty Bancorp by 17.1% during the 4th quarter. Wells Fargo & Company MN now owns 56,359 shares of the financial services provider’s stock valued at $1,558,000 after buying an additional 8,226 shares during the last quarter. BlackRock Inc. raised its stake in Guaranty Bancorp by 8.6% during the 4th quarter. BlackRock Inc. now owns 1,498,236 shares of the financial services provider’s stock valued at $41,428,000 after buying an additional 118,505 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in Guaranty Bancorp by 41.7% during the 4th quarter. Citadel Advisors LLC now owns 51,428 shares of the financial services provider’s stock valued at $1,422,000 after buying an additional 15,130 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Shares of GBNK opened at $29.80 on Friday. The firm has a market cap of $877.54 million, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.59 and a beta of 0.91. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.54. Guaranty Bancorp has a 1-year low of $24.70 and a 1-year high of $35.20.

Guaranty Bancorp (NASDAQ:GBNK) last announced its earnings results on Wednesday, April 18th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $39.06 million during the quarter, compared to analyst estimates of $39.32 million. Guaranty Bancorp had a net margin of 25.61% and a return on equity of 12.00%. sell-side analysts expect that Guaranty Bancorp will post 1.88 earnings per share for the current year.

A number of equities research analysts have weighed in on GBNK shares. BidaskClub upgraded shares of Guaranty Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Zacks Investment Research lowered shares of Guaranty Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. ValuEngine lowered shares of Guaranty Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, DA Davidson lowered shares of Guaranty Bancorp from a “buy” rating to a “neutral” rating and set a $32.00 target price for the company. in a research note on Wednesday, May 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $31.75.

In other news, EVP Keith Dickelman sold 2,000 shares of the company’s stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $29.40, for a total value of $58,800.00. Following the completion of the sale, the executive vice president now directly owns 25,512 shares in the company, valued at approximately $750,052.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick Dan O’brien sold 1,516 shares of the company’s stock in a transaction on Monday, April 30th. The stock was sold at an average price of $28.84, for a total value of $43,721.44. Following the completion of the sale, the executive vice president now owns 21,748 shares of the company’s stock, valued at $627,212.32. The disclosure for this sale can be found here. Insiders sold a total of 4,336 shares of company stock valued at $126,301 over the last 90 days. 8.40% of the stock is currently owned by company insiders.

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

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