Great Western Bancorp (NYSE:GWB) PT Lowered to $17.00 at Royal Bank of Canada

Great Western Bancorp (NYSE:GWB) had its price target reduced by Royal Bank of Canada from $19.00 to $17.00 in a research note published on Thursday, BenzingaRatingsTable reports. They currently have an outperform rating on the bank’s stock.

Several other brokerages also recently issued reports on GWB. JPMorgan Chase & Co. downgraded shares of Great Western Bancorp from a neutral rating to an underweight rating and set a $15.00 price objective on the stock. in a research note on Monday, May 4th. Zacks Investment Research raised shares of Great Western Bancorp from a sell rating to a hold rating in a research report on Monday, June 8th. TheStreet lowered shares of Great Western Bancorp from a c rating to a d rating in a research report on Thursday, April 30th. ValuEngine raised shares of Great Western Bancorp from a sell rating to a hold rating in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods lowered shares of Great Western Bancorp from an outperform rating to a market perform rating and set a $26.00 price objective for the company. in a research report on Wednesday, April 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $24.00.

Shares of Great Western Bancorp stock traded up $0.29 on Thursday, reaching $13.00. 808,840 shares of the stock were exchanged, compared to its average volume of 554,224. Great Western Bancorp has a 1-year low of $10.86 and a 1-year high of $36.65. The company has a current ratio of 0.93, a quick ratio of 0.96 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average price of $13.65 and a two-hundred day moving average price of $20.24. The firm has a market capitalization of $715.18 million, a PE ratio of -1.13, a PEG ratio of 5.45 and a beta of 1.17.

Great Western Bancorp (NYSE:GWB) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.10). Great Western Bancorp had a negative net margin of 120.07% and a positive return on equity of 8.39%. The business had revenue of $108.19 million during the quarter, compared to analysts’ expectations of $117.15 million. During the same period last year, the company earned $0.47 EPS. The firm’s revenue for the quarter was down 27.4% on a year-over-year basis. Research analysts expect that Great Western Bancorp will post 1.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. Great Western Bancorp’s dividend payout ratio (DPR) is presently 20.41%.

In other news, EVP Douglas Richard Bass bought 15,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $12.76 per share, for a total transaction of $191,400.00. Following the completion of the acquisition, the executive vice president now directly owns 41,548 shares in the company, valued at approximately $530,152.48. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Brannen bought 5,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was purchased at an average price of $12.55 per share, with a total value of $62,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $62,750. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 24,500 shares of company stock worth $311,430. 0.40% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Great Western Bancorp by 3.3% during the first quarter. BlackRock Inc. now owns 8,194,690 shares of the bank’s stock worth $167,827,000 after purchasing an additional 261,787 shares during the period. Macquarie Group Ltd. raised its position in shares of Great Western Bancorp by 3.6% in the fourth quarter. Macquarie Group Ltd. now owns 4,963,930 shares of the bank’s stock valued at $172,447,000 after purchasing an additional 171,234 shares during the period. Wellington Management Group LLP increased its position in Great Western Bancorp by 2.1% during the first quarter. Wellington Management Group LLP now owns 2,392,537 shares of the bank’s stock worth $48,999,000 after acquiring an additional 49,286 shares during the period. State Street Corp increased its position in Great Western Bancorp by 9.9% during the first quarter. State Street Corp now owns 2,320,860 shares of the bank’s stock worth $47,531,000 after acquiring an additional 209,886 shares during the period. Finally, Norges Bank bought a new position in Great Western Bancorp during the fourth quarter worth $42,833,000. Institutional investors and hedge funds own 98.24% of the company’s stock.

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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Analyst Recommendations for Great Western Bancorp (NYSE:GWB)

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