Great Western Bancorp (GWB) Upgraded to “Buy” at Zacks Investment Research

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 Friday morning. Zacks Investment Research currently has $47.00 price objective 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. “

GWB has been the topic of several other reports. ValuEngine raised shares of Great Western Bancorp from a sell rating to a hold rating in a report on Thursday, July 26th. B. Riley lifted their price objective on shares of Great Western Bancorp from $44.00 to $46.00 and gave the company a neutral rating in a report on Tuesday, June 19th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Great Western Bancorp currently has a consensus rating of Buy and a consensus price target of $46.33.

Shares of NYSE:GWB opened at $42.52 on Friday. The company has a market cap of $2.49 billion, a PE ratio of 17.28, a P/E/G ratio of 1.16 and a beta of 1.53. Great Western Bancorp has a one year low of $37.65 and a one year high of $46.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.99 and a current ratio of 0.99.

Great Western Bancorp (NYSE:GWB) last issued its quarterly earnings data on Thursday, July 26th. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.04. The company had revenue of $123.61 million for the quarter, compared to analyst estimates of $121.23 million. Great Western Bancorp had a net margin of 28.45% and a return on equity of 9.36%. Great Western Bancorp’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. Sell-side analysts anticipate that Great Western Bancorp will post 3.01 earnings per share for the current year.

In related news, insider Douglas Richard Bass sold 876 shares of Great Western Bancorp stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $43.25, for a total transaction of $37,887.00. Following the transaction, the insider now directly owns 18,204 shares of the company’s stock, valued at $787,323. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kenneth James Karels sold 4,700 shares of Great Western Bancorp stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $44.00, for a total transaction of $206,800.00. Following the transaction, the insider now directly owns 29,973 shares in the company, valued at $1,318,812. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,822 shares of company stock worth $519,123. 0.33% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWB. Schwab Charles Investment Management Inc. grew its holdings in Great Western Bancorp by 7.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 366,560 shares of the bank’s stock worth $14,762,000 after purchasing an additional 25,322 shares during the last quarter. Northern Trust Corp grew its holdings in Great Western Bancorp by 0.6% in the first quarter. Northern Trust Corp now owns 1,350,044 shares of the bank’s stock worth $54,366,000 after purchasing an additional 8,613 shares during the last quarter. BlackRock Inc. grew its holdings in Great Western Bancorp by 0.6% in the first quarter. BlackRock Inc. now owns 7,630,454 shares of the bank’s stock worth $307,278,000 after purchasing an additional 48,047 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Great Western Bancorp by 1.6% in the first quarter. Great West Life Assurance Co. Can now owns 77,888 shares of the bank’s stock worth $3,133,000 after purchasing an additional 1,241 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in Great Western Bancorp by 3.2% in the first quarter. California Public Employees Retirement System now owns 158,751 shares of the bank’s stock worth $6,393,000 after purchasing an additional 4,880 shares during the last quarter.

About Great Western Bancorp

Great Western Bancorp, Inc operates as the bank holding company for Great Western Bank that provides business and agribusiness banking, retail banking, and wealth management services. The company offers non-interest-bearing demand accounts, interest-bearing savings and money market accounts, individual retirement accounts, and time certificates of deposits, as well as NOW accounts.

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