Wells Fargo & Company MN cut its stake in Great Western Bancorp Inc (NYSE:GWB) by 10.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 285,706 shares of the bank’s stock after selling 32,948 shares during the period. Wells Fargo & Company MN owned approximately 0.49% of Great Western Bancorp worth $11,505,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Advisor Group Inc. increased its stake in shares of Great Western Bancorp by 68.7% during the 4th quarter. Advisor Group Inc. now owns 3,221 shares of the bank’s stock worth $128,000 after purchasing an additional 1,312 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Great Western Bancorp during the 4th quarter worth approximately $243,000. Verition Fund Management LLC purchased a new position in shares of Great Western Bancorp during the 4th quarter worth approximately $357,000. Aperio Group LLC increased its stake in shares of Great Western Bancorp by 11.9% during the 4th quarter. Aperio Group LLC now owns 13,215 shares of the bank’s stock worth $526,000 after purchasing an additional 1,408 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Great Western Bancorp by 9.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,644 shares of the bank’s stock worth $662,000 after purchasing an additional 1,389 shares in the last quarter.
In other Great Western Bancorp news, insider Kenneth James Karels sold 3,978 shares of Great Western Bancorp stock in a transaction on Monday, June 4th. The shares were sold at an average price of $45.00, for a total value of $179,010.00. Following the transaction, the insider now owns 38,885 shares in the company, valued at approximately $1,749,825. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is owned by company insiders.
Great Western Bancorp (NYSE:GWB) last announced its quarterly earnings results on Thursday, April 26th. The bank reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.01). The company had revenue of $119.30 million during the quarter, compared to analyst estimates of $117.13 million. Great Western Bancorp had a net margin of 27.33% and a return on equity of 8.86%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 EPS. sell-side analysts anticipate that Great Western Bancorp Inc will post 2.92 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 23rd. Shareholders of record on Friday, May 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Thursday, May 10th. This is a positive change from Great Western Bancorp’s previous quarterly dividend of $0.20. Great Western Bancorp’s dividend payout ratio (DPR) is 40.65%.
GWB has been the subject of a number of recent research reports. ValuEngine cut shares of Great Western Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Sandler O’Neill set a $46.00 target price on shares of Great Western Bancorp and gave the stock a “buy” rating in a research report on Tuesday, March 27th. Finally, Zacks Investment Research lowered shares of Great Western Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $46.22.
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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