Do Hedge Funds Love Guaranty Bancorp (GBNK)?

Since Guaranty Bancorp (NASDAQ:GBNK) has experienced a declining sentiment from hedge fund managers, it’s safe to say that there exists a select few funds that slashed their entire stakes heading into Q4. Intriguingly, Ken Gray and Steve Walsh’s Bryn Mawr Capital said goodbye to the biggest investment of all the hedgies monitored by Insider Monkey, totaling about $0.7 million in stock.

Let’s now take a look at hedge fund activity in other stocks similar to Guaranty Bancorp (NASDAQ:GBNK). We will take a look at Financial Institutions, Inc. (NASDAQ:FISI), Dynex Capital Inc (NYSE:DX), Boulevard Acquisition Corp II (NASDAQ:BLVDU), and Nobilis Health Corp (NYSEMKT:HLTH). All of these stocks’ market caps are similar to GBNK’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $49 million, lower than the $65 million in GBNK’s case. Boulevard Acquisition Corp II (NASDAQ:BLVDU) is the most popular stock in this table. On the other hand Dynex Capital Inc (NYSE:DX) is the least popular one with only 5 bullish hedge fund positions. Guaranty Bancorp (NASDAQ:GBNK) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BLVDU might be a better candidate to consider a long position.