Price Action to Note: Could Great Western Bancorp Inc Change Direction After Making 52-Week High?

Price Action to Note: Could Great Western Bancorp Inc Change Direction After Making 52 Week High?

The stock of Great Western Bancorp Inc (NYSE:GWB) hit a new 52-week high and has $57.30 target or 55.00% above today’s $36.97 share price. The 9 months bullish chart indicates low risk for the $2.25 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $57.30 price target is reached, the company will be worth $1.24 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 305,439 shares traded hands or 3.36% up from the average. Great Western Bancorp Inc (NYSE:GWB) has risen 33.52% since April 11, 2016 and is uptrending. It has outperformed by 27.37% the S&P500.

Great Western Bancorp Inc (NYSE:GWB) Ratings Coverage

Out of 6 analysts covering Great Western (NYSE:GWB), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. Great Western has been the topic of 7 analyst reports since September 14, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by PiperJaffray given on Thursday, October 6. The firm has “Outperform” rating by RBC Capital Markets given on Friday, November 13. The rating was maintained by RBC Capital Markets on Friday, October 30 with “Outperform”. Deutsche Bank maintained the stock with “Buy” rating in Friday, October 30 report. The stock has “Neutral” rating given by Piper Jaffray on Thursday, October 6. The stock has “Speculative Buy” rating given by Beaufort Securities on Monday, September 14.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 1.15 in Q2 2016. Its down 0.52, from 1.67 in 2016Q1. The ratio dived, as 22 funds sold all Great Western Bancorp Inc shares owned while 70 reduced positions. 40 funds bought stakes while 66 increased positions. They now own 60.44 million shares or 1.41% less from 61.30 million shares in 2016Q1.
Eagle Asset Mngmt Inc holds 418,745 shares or 0.09% of its portfolio. Moreover, Prudential Incorporated has 0.03% invested in Great Western Bancorp Inc (NYSE:GWB) for 604,500 shares. Rhumbline Advisers holds 0.01% or 78,767 shares in its portfolio. Moreover, Blackrock Grp Inc Limited has 0% invested in Great Western Bancorp Inc (NYSE:GWB) for 129,962 shares. Wedge Capital Management L Limited Partnership Nc holds 0.21% or 653,737 shares in its portfolio. Diam Co Ltd holds 0.01% of its portfolio in Great Western Bancorp Inc (NYSE:GWB) for 11,101 shares. Mairs And Power has 930,750 shares for 0.4% of their US portfolio. Cramer Rosenthal Mcglynn Ltd holds 0.19% of its portfolio in Great Western Bancorp Inc (NYSE:GWB) for 366,443 shares. Old Mutual Global Invsts (Uk) accumulated 0% or 265 shares. Tower Rech Cap Ltd (Trc) last reported 0% of its portfolio in the stock. Regions Fin Corporation last reported 0.02% of its portfolio in the stock. Virginia Retirement Et Al reported 23,300 shares or 0.01% of all its holdings. Us Fincl Bank De has 0% invested in the company for 34,837 shares. State Street Corporation last reported 0.01% of its portfolio in the stock. Moreover, Livforsakringsbolaget Skandia Omsesidigt has 0.14% invested in Great Western Bancorp Inc (NYSE:GWB) for 99,642 shares.

More notable recent Great Western Bancorp Inc (NYSE:GWB) news were published by: Businesswire.com which released: “Great Western Bancorp, Inc. to Present at Bank of America Merrill Lynch Future …” on November 09, 2016, also Businesswire.com with their article: “Great Western Bancorp, Inc. Appoints James A. Israel as Director” published on October 25, 2016, Nasdaq.com published: “Ex-Dividend Reminder: Great Western Bancorp, CIT Group and Macerich” on November 04, 2016. More interesting news about Great Western Bancorp Inc (NYSE:GWB) were released by: Businesswire.com and their article: “Great Western Bancorp, Inc. and HF Financial Corp. Announce Definitive Merger …” published on November 30, 2015 as well as Businesswire.com‘s news article titled: “Great Western Bancorp, Inc. Closes Merger with HF Financial Corp.” with publication date: May 16, 2016.

GWB Company Profile

Great Western Bancorp, Inc., incorporated on July 2, 2014, is a bank holding company. The Company’s primary business is the ownership of its subsidiary, Great Western Bank (the Bank). The Bank is a regional bank focused on relationship business and agribusiness banking. It also focuses on retail banking and wealth management services. The Bank serves its clients through approximately 178 branches in over nine states, including North Dakota, Minnesota, South Dakota, Iowa, Nebraska, Colorado, Arizona, Kansas and Missouri.

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