Great Western Bancorp (NYSE:GWB) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Great Western Bancorp (NYSE:GWB) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

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. “

A number of other research firms also recently weighed in on GWB. TheStreet downgraded shares of Great Western Bancorp from a b rating to a c+ rating in a research report on Monday, December 2nd. ValuEngine upgraded Great Western Bancorp from a sell rating to a hold rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $37.00.

NYSE:GWB opened at $34.68 on Wednesday. Great Western Bancorp has a 52 week low of $28.06 and a 52 week high of $38.78. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day simple moving average is $34.86 and its 200 day simple moving average is $33.18. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 3.23 and a beta of 1.64.

Great Western Bancorp (NYSE:GWB) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.10. Great Western Bancorp had a net margin of 27.73% and a return on equity of 9.01%. The firm had revenue of $121.73 million during the quarter, compared to the consensus estimate of $123.57 million. During the same quarter in the previous year, the firm posted $0.72 EPS. Sell-side analysts anticipate that Great Western Bancorp will post 3.02 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Thursday, November 14th. Great Western Bancorp’s dividend payout ratio (DPR) is currently 40.82%.

In related news, CEO Kenneth James Karels sold 35,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $36.00, for a total value of $1,260,000.00. Following the transaction, the chief executive officer now owns 26,662 shares in the company, valued at $959,832. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Great Western Bancorp by 9,195.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,041,809 shares of the bank’s stock worth $37,213,000 after acquiring an additional 1,030,601 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Great Western Bancorp during the second quarter worth $36,193,000. Millennium Management LLC bought a new stake in Great Western Bancorp during the third quarter worth $7,546,000. Wedge Capital Management L L P NC boosted its holdings in shares of Great Western Bancorp by 22.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 846,000 shares of the bank’s stock valued at $27,918,000 after purchasing an additional 156,044 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in shares of Great Western Bancorp by 3.5% in the 2nd quarter. Macquarie Group Ltd. now owns 4,477,428 shares of the bank’s stock valued at $159,934,000 after purchasing an additional 149,744 shares in the last quarter. 96.31% of the stock is owned by institutional investors.

About Great Western Bancorp

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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