What’s Propelling Guaranty Bancorp (GBNK) to Increase? The Stock Formed a Multiple Top Pattern

February 18, 2018 - By Kurt Siggers

Investors sentiment increased to 2.26 in Q3 2017. Its up 0.49, from 1.77 in 2017Q2. It improved, as 6 investors sold Guaranty Bancorp shares while 17 reduced holdings. 14 funds opened positions while 38 raised stakes. 20.29 million shares or 2.45% more from 19.81 million shares in 2017Q2 were reported.
Moreover, Phocas Financial has 0.59% invested in Guaranty Bancorp (NASDAQ:GBNK). Banc Funds Ltd invested in 0.23% or 181,802 shares. Ranger Inv L P reported 0.19% stake. Franklin Resource Inc stated it has 0.03% of its portfolio in Guaranty Bancorp (NASDAQ:GBNK). Moreover, Basswood Cap Limited Liability Corp has 0.19% invested in Guaranty Bancorp (NASDAQ:GBNK) for 147,758 shares. Stifel stated it has 18,791 shares or 0% of all its holdings. Ameritas Investment Ptnrs holds 2,062 shares. Td Asset Management Inc holds 0% or 27,200 shares in its portfolio. Nationwide Fund Advisors invested in 14,293 shares. Goldman Sachs Inc holds 843,144 shares or 0.01% of its portfolio. Geode Ltd accumulated 0% or 189,038 shares. Northern holds 266,099 shares. Envestnet Asset holds 0% of its portfolio in Guaranty Bancorp (NASDAQ:GBNK) for 95 shares. Comerica Bancorp, a Michigan-based fund reported 31,548 shares. Credit Suisse Ag invested 0% in Guaranty Bancorp (NASDAQ:GBNK).

Since October 24, 2017, it had 0 insider purchases, and 2 insider sales for $5.79 million activity.

The stock of Guaranty Bancorp (GBNK) shows a multiple tops pattern with $30.26 target or 6.00 % above today’s $28.55 share price. The 8 months chart pattern indicates low risk for the $821.90M company. It was reported on Feb, 18 by Finviz.com. If the $30.26 price target is reached, the company will be worth $49.31 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.71% or $0.2 during the last trading session, reaching $28.55. About 112,506 shares traded or 10.80% up from the average. Guaranty Bancorp (NASDAQ:GBNK) has risen 55.26% since February 18, 2017 and is uptrending. It has outperformed by 38.56% the S&P500.

Guaranty Bancorp (NASDAQ:GBNK) Ratings Coverage

Among 8 analysts covering Guaranty Bancorp (NASDAQ:GBNK), 4 have Buy rating, 0 Sell and 4 Hold. Therefore 50% are positive. Guaranty Bancorp has $34.0 highest and $18 lowest target. $29.50’s average target is 3.33% above currents $28.55 stock price. Guaranty Bancorp had 15 analyst reports since August 13, 2015 according to SRatingsIntel. The firm has “Hold” rating by Keefe Bruyette & Woods given on Wednesday, October 18. The stock of Guaranty Bancorp (NASDAQ:GBNK) earned “Market Perform” rating by FIG Partners on Thursday, August 13. The rating was maintained by Keefe Bruyette & Woods on Tuesday, October 3 with “Hold”. Sandler O’Neill upgraded the shares of GBNK in report on Thursday, October 27 to “Buy” rating. The rating was downgraded by Piper Jaffray on Tuesday, July 11 to “Hold”. As per Thursday, October 5, the company rating was maintained by Piper Jaffray. The stock of Guaranty Bancorp (NASDAQ:GBNK) has “Hold” rating given on Thursday, December 21 by Keefe Bruyette & Woods. The rating was upgraded by Wood to “Outperform” on Tuesday, April 12. The firm earned “Hold” rating on Thursday, July 20 by Keefe Bruyette & Woods. The stock has “Buy” rating by Sandler O’Neill on Thursday, January 25.

More recent Guaranty Bancorp (NASDAQ:GBNK) news were published by: Globenewswire.com which released: “Guaranty Bancorp Announces Dividend Increase of 30 Percent” on February 13, 2018. Also Bizjournals.com published the news titled: “Colorado bank sees strong profit growth as loans, deposits rise” on November 07, 2017. Streetinsider.com‘s news article titled: “Guaranty Bancorp (GBNK) Raises Quarterly Dividend 30% to $0.1625; 2.3% Yield” with publication date: December 11, 2017 was also an interesting one.

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