Zacks: Analysts Anticipate Great Western Bancorp Inc (NYSE:GWB) Will Post Quarterly Sales of $120.72 Million

Brokerages expect Great Western Bancorp Inc (NYSE:GWB) to post $120.72 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Great Western Bancorp’s earnings. The highest sales estimate is $122.00 million and the lowest is $119.76 million. Great Western Bancorp reported sales of $121.70 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.8%. The business is scheduled to issue its next quarterly earnings report on Thursday, April 23rd.

According to Zacks, analysts expect that Great Western Bancorp will report full-year sales of $488.84 million for the current financial year, with estimates ranging from $486.06 million to $491.00 million. For the next fiscal year, analysts expect that the business will post sales of $499.03 million, with estimates ranging from $496.51 million to $500.59 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Great Western Bancorp.

Great Western Bancorp (NYSE:GWB) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.77 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.77. The business had revenue of $120.91 million for the quarter, compared to analyst estimates of $123.05 million. During the same quarter in the prior year, the company earned $0.79 earnings per share.

A number of brokerages have recently issued reports on GWB. ValuEngine raised shares of Great Western Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. TheStreet cut shares of Great Western Bancorp from a “b” rating to a “c+” rating in a report on Monday, December 2nd. Raymond James began coverage on shares of Great Western Bancorp in a report on Thursday, January 16th. They issued a “market perform” rating on the stock. Zacks Investment Research cut shares of Great Western Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Finally, Stephens cut shares of Great Western Bancorp from an “overweight” rating to an “equal weight” rating and set a $37.00 target price on the stock. in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $36.25.

Shares of Great Western Bancorp stock traded up $0.01 during trading hours on Thursday, reaching $30.82. 408,111 shares of the company’s stock were exchanged. The company has a 50 day moving average of $32.63 and a two-hundred day moving average of $33.02. Great Western Bancorp has a fifty-two week low of $28.06 and a fifty-two week high of $38.78.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.89%.

In other news, CFO Peter Robert Chapman sold 4,071 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $34.00, for a total value of $138,414.00. Following the sale, the chief financial officer now directly owns 25,890 shares of the company’s stock, valued at approximately $880,260. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in GWB. Millennium Management LLC bought a new position in Great Western Bancorp in the 3rd quarter valued at about $7,546,000. Bank of Montreal Can raised its holdings in Great Western Bancorp by 78.2% in the 4th quarter. Bank of Montreal Can now owns 418,411 shares of the bank’s stock valued at $14,536,000 after acquiring an additional 183,550 shares during the period. Wedge Capital Management L L P NC raised its holdings in 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 acquiring an additional 156,044 shares during the period. FMR LLC raised its holdings in Great Western Bancorp by 7.9% in the 4th quarter. FMR LLC now owns 1,993,484 shares of the bank’s stock valued at $69,253,000 after acquiring an additional 146,318 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Great Western Bancorp by 8.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,874,328 shares of the bank’s stock valued at $65,114,000 after acquiring an additional 142,102 shares during the period. 97.01% 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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