GBank Financial Holdings Inc. (GBFH) shares ended the last trading session 7.5% higher at $35.47. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 8.8% loss over the past four weeks.
Yesterday, shares of GBank Financial Holdings rallied for the sixth straight trading session. On April 16, the company announced that the SEC had declared effective its Registration Statement on Form S-1. The registration pertains to the resale of over 1 million shares held by existing stockholders, originally issued in a private placement completed on October 11, 2024. This positive development drove the GBFH stock higher.
This company is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of +10.7%. Revenues are expected to be $18 million, up 36.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For GBank Financial Holdings Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GBFH going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
GBank Financial Holdings Inc. is part of the Zacks Banks - Southwest industry. First Foundation (FFWM), another stock in the same industry, closed the last trading session 1% lower at $4.93. FFWM has returned 3.1% in the past month.
For First Foundation
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GBank Financial Holdings Inc. (GBFH): Free Stock Analysis Report First Foundation Inc. (FFWM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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