In a recent transaction on July 18, Robert P. Sharp (OTC:SHCAY), the Executive Vice President of Guaranty Bank & Trust, a subsidiary of Guaranty Bancshares Inc . (NASDAQ:NYSE:GNTY), sold shares of the company for tax and estate planning purposes. Sharp disposed of 2,284 shares of common stock at a price of $34.5 per share, totaling $78,798.
The transaction was made public through a Form 4 filing with the Securities and Exchange Commission (SEC). After the sale, Sharp continues to hold a significant number of shares in the company. The executive's direct holdings amount to 27,676 shares. Additionally, the report disclosed indirect ownership through the Robert Patrick Sharp Lifetime Trust, with 48,899 shares, and through the Issuer KSOP, with 29,985 shares.
Investors often monitor insider transactions as they can provide insights into an executive's confidence in the company's prospects. In this case, the stated purpose of the transaction relates to personal financial planning rather than a commentary on the company's future performance.
Guaranty Bancshares Inc., headquartered in Mount Pleasant, Texas, operates as the holding company for Guaranty Bank & Trust, providing banking and financial services across the region. The company's stock is traded on the NASDAQ under the ticker symbol GNTY.
The recent filing ensures transparency for investors and maintains compliance with SEC regulations. It is a routine disclosure that executives and directors of publicly traded companies are required to make when there are changes in their ownership of company stock.
In other recent news, Guaranty Bancshares reported favorable second-quarter financial results, surpassing consensus forecasts. This was largely attributed to net interest margin expansion, a decrease in loan balances, and a negative loan loss provision expense. As a result, Stephens increased its price target for Guaranty Bancshares to $36.00, up from the previous $34.00, and maintained an Overweight rating. However, Piper Sandler reduced its price target from $34 to $30 based on changes in earnings estimates for 2024 and 2025.
In addition, Guaranty Bancshares has implemented a new executive compensation plan, known as the Executive Officer Long Term Incentive Compensation Plan. This plan, approved by the company's board, aims to provide annual bonus opportunities to selected executive officers based on the company's performance against pre-established metrics.
Guaranty Bancshares also reported Q1 results, noting a slight decrease in total assets and liabilities but an increase in net interest margin and non-interest income, resulting in a net income of $6.7 million for the quarter. The bank also indicated an interest in potential mergers and acquisitions, aiming to improve its net interest margin to a long-term target of 3.50%. These are some of the recent developments within Guaranty Bancshares.
InvestingPro Insights
Amidst executive movements at Guaranty Bancshares Inc. (NASDAQ:GNTY), investors may find it useful to consider the company's financial health and performance metrics provided by InvestingPro. With a market capitalization of around $410.51 million and a P/E ratio of 14.73, Guaranty Bancshares appears to be valued at a reasonable earnings multiple. The company's consistent dividend growth, with dividends raised for 7 consecutive years, signals a commitment to returning value to shareholders. This is further supported by a solid dividend yield of 2.85%.
Investors should note that analysts have revised their earnings expectations upwards for the upcoming period, which could indicate potential optimism about the company's financial trajectory. Additionally, the company has demonstrated a strong return over the last month, with a 15.18% price total return, showcasing recent positive market sentiment.
For investors seeking deeper analysis and more InvestingPro Tips on Guaranty Bancshares Inc., they can explore additional insights, including the company's fair value estimates, by visiting https://www.investing.com/pro/GNTY. There are currently 6 additional InvestingPro Tips available, which could provide further guidance on the stock's prospects. Utilize the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, and gain access to exclusive investment analysis tools and data.
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