Could Guaranty Bancorp (GBNK) Gain Strenght After Forming Bearish Wedge Down Pattern?

September 17, 2017 - By Henry Gaston

Investors sentiment increased to 3.56 in Q4 2016. Its up 2.21, from 1.35 in 2016Q3. It is positive, as 4 investors sold Guaranty Bancorp shares while 14 reduced holdings. 25 funds opened positions while 39 raised stakes. 37.85 million shares or 114.66% more from 17.63 million shares in 2016Q3 were reported.
Moreover, Emerald Mutual Fund Advisers Tru has 0.03% invested in Guaranty Bancorp (NASDAQ:GBNK). Rhumbline Advisers reported 19,412 shares. Manufacturers Life Insur The holds 12,470 shares. First Limited Partnership invested in 66,904 shares. Susquehanna Limited Liability Partnership holds 0% or 22,162 shares. Basswood Capital Mgmt Ltd Limited Liability Company holds 1.08% or 1.01M shares. Nationwide Fund Advisors has invested 0% in Guaranty Bancorp (NASDAQ:GBNK). The New York-based Citigroup Inc has invested 0% in Guaranty Bancorp (NASDAQ:GBNK). Royal Bancorporation Of Canada owns 8,160 shares for 0% of their portfolio. Blackrock Institutional Na holds 0% of its portfolio in Guaranty Bancorp (NASDAQ:GBNK) for 252,525 shares. Phocas Finance owns 259,732 shares or 0.41% of their US portfolio. Retail Bank Of New York Mellon has invested 0% in Guaranty Bancorp (NASDAQ:GBNK). Castine Capital Mgmt Ltd reported 1.42% of its portfolio in Guaranty Bancorp (NASDAQ:GBNK). California Public Employees Retirement Systems invested in 0% or 54,700 shares. California State Teachers Retirement holds 35,978 shares or 0% of its portfolio.

Since May 26, 2017, it had 1 buying transaction, and 0 insider sales for $2,052 activity.

The stock of Guaranty Bancorp (GBNK) formed a down wedge with $23.95 target or 7.00 % below today’s $25.75 share price. The 5 months wedge indicates high risk for the $731.47 million company. If the $23.95 price target is reached, the company will be worth $51.20M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 1.34% or $0.35 on September 15, reaching $25.75. About 735,294 shares traded or 555.59% up from the average. Guaranty Bancorp (NASDAQ:GBNK) has risen 55.26% since September 17, 2016 and is uptrending. It has outperformed by 38.56% the S&P500.

Investors wait Guaranty Bancorp (NASDAQ:GBNK) to report on October, 25. its quarterly earnings Wall Street analysts expect $0.37 earnings per share, up $0.05 or 15.63 % from last year’s $0.32 same quarter earnings. This translates into $10.51M profit for GBNK giving the stock a 17.40 P/E. This is assuming the current $0.37 EPS is accurate. Guaranty Bancorp’s Wall Street analysts see 2.78 % EPS growth, taking into account the $0.36 EPS reproted in the previous quarter,

Guaranty Bancorp (NASDAQ:GBNK) Ratings Coverage

Among 7 analysts covering Guaranty Bancorp (NASDAQ:GBNK), 3 have Buy rating, 0 Sell and 4 Hold. Therefore 43% are positive. Guaranty Bancorp had 9 analyst reports since August 13, 2015 according to SRatingsIntel. Keefe Bruyette & Woods maintained Guaranty Bancorp (NASDAQ:GBNK) rating on Thursday, June 22. Keefe Bruyette & Woods has “Buy” rating and $2600 target. The firm has “Buy” rating given on Thursday, October 27 by Sandler O’Neill. Wood upgraded the stock to “Outperform” rating in Tuesday, April 12 report. On Thursday, August 13 the stock rating was upgraded by FIG Partners to “Market Perform”. As per Tuesday, July 11, the company rating was downgraded by Piper Jaffray. The firm earned “Neutral” rating on Tuesday, July 11 by PiperJaffray. The stock of Guaranty Bancorp (NASDAQ:GBNK) earned “Hold” rating by Keefe Bruyette & Woods on Thursday, July 20.

Another recent and important Guaranty Bancorp (NASDAQ:GBNK) news was published by Marketwired.com which published an article titled: “Guaranty Bancorp announces second consecutive quarter of record net income and …” on July 19, 2017.

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