Zacks Investment Research upgraded shares of Great Western Bancorp (NYSE:GWB) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Zacks.com reports. Zacks Investment Research currently has $37.00 price target on the bank’s stock.
According to Zacks, “Great Western Bancorp Inc. is a full-service regional bank holding company. It focuses on business and agribusiness banking, complemented by retail banking and wealth management services. The Bank’s loan portfolio consists primarily of business loans, comprised of commercial and industrial, and agribusiness loans. It also provides a range of deposit and loan products to its retail customers through several channels, including its branch network, online banking system, mobile banking applications and customer care centers. The Bank provides wealth management solutions consisting of financial planning, private banking, investment management, and trust services. Great Western Bancorp, Inc. is headquartered in Sioux Falls, South Dakota. “
Several other equities analysts have also recently issued reports on GWB. Royal Bank of Canada set a $38.00 price objective on Great Western Bancorp and gave the company a buy rating in a research note on Friday, July 26th. Piper Jaffray Companies set a $36.00 price objective on Great Western Bancorp and gave the company a hold rating in a research note on Friday, July 19th. ValuEngine upgraded Great Western Bancorp from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Finally, TheStreet cut Great Western Bancorp from a b- rating to a c+ rating in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $37.00.
Shares of Great Western Bancorp stock opened at $33.24 on Tuesday. The business has a 50-day moving average of $31.69 and a 200 day moving average of $32.90. Great Western Bancorp has a 12 month low of $28.06 and a 12 month high of $41.08. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 2.13 and a beta of 1.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.97 and a quick ratio of 0.97.
Great Western Bancorp (NYSE:GWB) last announced its earnings results on Thursday, July 25th. The bank reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.32). The firm had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $120.91 million. Great Western Bancorp had a net margin of 26.81% and a return on equity of 8.63%. During the same quarter last year, the business earned $0.78 earnings per share. Equities research analysts anticipate that Great Western Bancorp will post 2.83 earnings per share for the current year.
In other Great Western Bancorp news, Director Thomas Edward Henning bought 2,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $28.92 per share, with a total value of $57,840.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Great Western Bancorp by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 88,325 shares of the bank’s stock worth $3,155,000 after acquiring an additional 490 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Great Western Bancorp by 22.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 46,695 shares of the bank’s stock worth $1,668,000 after acquiring an additional 8,641 shares in the last quarter. Jennison Associates LLC raised its position in shares of Great Western Bancorp by 0.9% during the 2nd quarter. Jennison Associates LLC now owns 52,189 shares of the bank’s stock worth $1,864,000 after acquiring an additional 490 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Great Western Bancorp by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 809,213 shares of the bank’s stock worth $28,905,000 after acquiring an additional 13,233 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Great Western Bancorp by 7.0% during the 2nd quarter. Comerica Bank now owns 248,011 shares of the bank’s stock worth $8,177,000 after acquiring an additional 16,132 shares in the last quarter. 99.44% of the stock is currently owned by institutional investors and hedge funds.
Great Western Bancorp Company Profile
Great Western Bancorp, Inc operates as the bank holding company for Great Western Bank that provides business and agri-business banking, retail banking, and wealth management services in the United States. The company offers noninterest-bearing demand accounts, interest-bearing demand accounts, interest-bearing non-transaction accounts, time deposits, and corporate credit cards.
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