Geode Capital Management LLC Invests $7.32 Million in GBank Financial Holdings Inc. $GBFH

Geode Capital Management LLC bought a new position in shares of GBank Financial Holdings Inc. (NASDAQ:GBFH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 206,776 shares of the company’s stock, valued at approximately $7,323,000. Geode Capital Management LLC owned 1.47% of GBank Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GBFH. Arcus Capital Partners LLC acquired a new position in GBank Financial in the 2nd quarter worth approximately $203,000. Emerald Advisers LLC purchased a new stake in shares of GBank Financial in the 2nd quarter valued at $320,000. Destiny Wealth Partners LLC acquired a new stake in shares of GBank Financial in the second quarter worth $364,000. RVW Wealth LLC purchased a new position in shares of GBank Financial during the second quarter worth $399,000. Finally, FNY Investment Advisers LLC acquired a new position in GBank Financial during the second quarter valued at $442,000.

Insiders Place Their Bets

In related news, Chairman Edward Michael Nigro bought 800 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average price of $34.06 per share, with a total value of $27,248.00. Following the completion of the purchase, the chairman directly owned 16,700 shares of the company’s stock, valued at approximately $568,802. This trade represents a 5.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Tara Allyce Campbell sold 3,867 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $35.61, for a total transaction of $137,703.87. Following the transaction, the chief operating officer owned 3,733 shares of the company’s stock, valued at approximately $132,932.13. This trade represents a 50.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 37.70% of the stock is currently owned by company insiders.

GBank Financial Trading Up 0.6%

Shares of GBFH stock opened at $35.74 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.01 and a debt-to-equity ratio of 0.17. GBank Financial Holdings Inc. has a 12-month low of $27.30 and a 12-month high of $46.00. The business’s 50 day simple moving average is $36.90. The stock has a market capitalization of $513.94 million, a P/E ratio of 27.49 and a beta of -1.06.

GBank Financial (NASDAQ:GBFH) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.30 EPS for the quarter. GBank Financial had a return on equity of 13.94% and a net margin of 17.89%.The business had revenue of $20.18 million during the quarter.

Wall Street Analysts Forecast Growth

GBFH has been the topic of several analyst reports. Jones Trading reaffirmed a “buy” rating and set a $55.00 price target on shares of GBank Financial in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GBank Financial in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, GBank Financial has an average rating of “Moderate Buy” and a consensus target price of $55.00.

GBank Financial Profile

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.