Insider Selling: Guaranty Bancorp (GBNK) Director Sells $20,750,000.00 in Stock
Guaranty Bancorp (NASDAQ:GBNK) Director John M. Eggemeyer III sold 1,000,000 shares of Guaranty Bancorp stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $20.75, for a total value of $20,750,000.00. Following the sale, the director now owns 4,224 shares in the company, valued at $87,648. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Guaranty Bancorp (NASDAQ:GBNK) opened at 21.45 on Wednesday. The company has a 50-day moving average price of $18.99 and a 200 day moving average price of $17.58. The stock has a market cap of $595.97 million, a price-to-earnings ratio of 20.45 and a beta of 1.03. Guaranty Bancorp has a one year low of $13.92 and a one year high of $21.60.
The business also recently announced a quarterly dividend, which was paid on Monday, November 28th. Stockholders of record on Friday, November 18th were paid a $0.115 dividend. The ex-dividend date of this dividend was Wednesday, November 16th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.14%. Guaranty Bancorp’s dividend payout ratio is currently 43.40%.
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Large investors have recently added to or reduced their stakes in the company. LSV Asset Management bought a new stake in Guaranty Bancorp during the second quarter worth approximately $121,000. BlackRock Advisors LLC boosted its stake in Guaranty Bancorp by 2.4% in the second quarter. BlackRock Advisors LLC now owns 7,533 shares of the financial services provider’s stock worth $126,000 after buying an additional 173 shares in the last quarter. Spark Investment Management LLC bought a new stake in Guaranty Bancorp during the second quarter worth approximately $207,000. The Manufacturers Life Insurance Company bought a new stake in Guaranty Bancorp during the third quarter worth approximately $231,000. Finally, Mesirow Financial Investment Management Equity Management bought a new stake in Guaranty Bancorp during the second quarter worth approximately $261,000. 64.97% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on GBNK shares. Sandler O’Neill upgraded Guaranty Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, October 27th. Zacks Investment Research raised Guaranty Bancorp from a “sell” rating to a “hold” rating in a report on Monday, August 15th.
Guaranty Bancorp Company Profile
Guaranty Bancorp is the bank holding for Guaranty Bank and Trust Company (the Bank). The Company’s segment is banking. The Company operates approximately 30 branches and over two investment management firms, including Private Capital Management LLC (PCM) and Cherry Hills Investment Advisors Inc (CHIA), in Colorado through the Bank.
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