Piper Sandler Cuts Great Western Bancorp (NYSE:GWB) Price Target to $14.00

Great Western Bancorp (NYSE:GWB) had its price objective decreased by Piper Sandler from $15.00 to $14.00 in a report released on Thursday, BenzingaRatingsTable reports. Piper Sandler currently has a neutral rating on the bank’s stock.

A number of other analysts have also commented on the company. Keefe, Bruyette & Woods lowered Great Western Bancorp from an outperform rating to a market perform rating and set a $26.00 price target on the stock. in a research note on Wednesday, April 1st. Zacks Investment Research upgraded Great Western Bancorp from a sell rating to a hold rating in a research report on Monday, June 8th. TheStreet downgraded Great Western Bancorp from a c rating to a d rating in a research report on Thursday, April 30th. Royal Bank of Canada lowered their price objective on Great Western Bancorp from $19.00 to $17.00 and set an outperform rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. downgraded Great Western Bancorp from a neutral rating to an underweight rating and set a $15.00 price objective for the company. in a research report on Monday, May 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Great Western Bancorp currently has an average rating of Hold and an average target price of $24.00.

NYSE:GWB traded up $0.29 during trading hours on Thursday, hitting $13.00. The company’s stock had a trading volume of 808,840 shares, compared to its average volume of 554,224. The stock has a fifty day simple moving average of $13.65 and a 200-day simple moving average of $20.24. The company has a market capitalization of $715.18 million, a P/E ratio of -1.13, a PEG ratio of 5.45 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.93 and a quick ratio of 0.96. Great Western Bancorp has a twelve month low of $10.86 and a twelve month high of $36.65.

Great Western Bancorp (NYSE:GWB) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $0.10 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $108.19 million for the quarter, compared to analyst estimates of $117.15 million. During the same period in the previous year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was down 27.4% compared to the same quarter last year. On average, equities analysts predict that Great Western Bancorp will post 1.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, August 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. Great Western Bancorp’s payout ratio is 20.41%.

In other Great Western Bancorp news, EVP Douglas Richard Bass acquired 15,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were acquired at an average price of $12.76 per share, with a total value of $191,400.00. Following the completion of the transaction, the executive vice president now owns 41,548 shares in the company, valued at $530,152.48. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Peter Robert Chapman acquired 3,500 shares of the business’s stock in a transaction on Friday, July 31st. The stock was acquired at an average cost of $12.76 per share, for a total transaction of $44,660.00. Following the transaction, the chief financial officer now owns 29,390 shares of the company’s stock, valued at approximately $375,016.40. The disclosure for this purchase can be found here. In the last three months, insiders acquired 24,500 shares of company stock worth $311,430. Insiders own 0.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Private Capital Group LLC increased its stake in Great Western Bancorp by 169.9% in the 1st quarter. Private Capital Group LLC now owns 1,325 shares of the bank’s stock worth $27,000 after acquiring an additional 834 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Great Western Bancorp by 147.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,003 shares of the bank’s stock worth $70,000 after purchasing an additional 1,192 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Great Western Bancorp by 44.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,391 shares of the bank’s stock worth $90,000 after purchasing an additional 1,360 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in shares of Great Western Bancorp in the 1st quarter worth about $113,000. Finally, Sciencast Management LP purchased a new stake in Great Western Bancorp during the 2nd quarter valued at about $160,000. 98.24% of the stock is currently owned by hedge funds and other 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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