Equity Analysis /
United States of America

US : Guaranty Federal Bancshares, Inc. - GFED | Raising EPS Estimates for Lower Op. Expenses and Credit Costs

    Ken Kohut
    Daniel Tamayo
    25 January 2021
    Published byCGS-CIMB

    We reiterate our Market Perform rating on GFED shares following 4Q financial results. PTPPI missed our projection in 4Q due to lower fee income and higher operating expenses; however, SBA loan sale gains should rebound in coming quarters while operating expenses should decline following some non-re