Keefe Bruyette & Woods Upgrades Guaranty Bancorp to Outperform with Price Target $19.00

Brokerage firm Keefe Bruyette & Woods Upgrades its rating on Guaranty Bancorp(NASDAQ:GBNK). In a research note issued to the investors, the brokerage major Raises the price-target to $19.00 per share. The shares have been rated Outperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Keefe Bruyette & Woods was issued on Apr 12, 2016.

Guaranty Bancorp (GBNK) shares turned negative on Fridays trading session with the shares closing down -0.42 points or -2.53% at a volume of 1,87,270. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $16.84. The peak price level was also seen at $16.84 while the days lowest was $16.058. Finally the shares closed at $16.2. The 52-week high of the shares is $17.91 while the 52-week low is $12.78. According to the latest information available, the market cap of the company is $370 M.

Guaranty Bancorp(GBNK) last announced its earnings results on Oct 14, 2015 for Fiscal Year 2015 and Q3.Company reported revenue of $23.80M. Analysts had an estimated revenue of $24.60M. Earnings per share were $0.28. Analysts had estimated an EPS of $0.28.

Several Insider Transactions has been reported to the SEC. On Jul 28, 2015, Albert C Yates (director) purchased 3,300 shares at $16.47 per share price.Also, On Jun 10, 2015, Michael J Noesen (EVP, Business Banking) sold 5,000 shares at $16.36 per share price.On May 6, 2015, Michael J Dipetro (EVP, Retail Banking Manager) sold 689 shares at $16.09 per share price, according to the Form-4 filing with the securities and exchange commission.

Guaranty Bancorp is a bank holding company. The Company’s principal business is to serve as a holding company for its bank subsidiary Guaranty Bank and Trust Company (Guaranty Bank). As on December 31 2014 the Company had operated 26 branches and two investment management firms in Colorado through its bank subsidiary Guaranty Bank. Its branch network enables it to offer a range of deposits loans and personalized services to commercial and consumer customers. Its branches are located throughout Colorado’s Front Range including the Denver metropolitan area. Besides loans and depository services the Bank also offers wealth management solutions including trust and investment management services. The Bank together with its wholly owned subsidiaries Private Capital Management LLC (PCM) and Cherry Hills Investment Advisors Inc. (CHIA) provides wealth management services including private banking investment management and trust services.

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