Guaranty Bancorp (Guaranty Bancorp) Sloan Ratio % : 4.52% (As of Sep. 2018)

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What is Guaranty Bancorp Sloan Ratio %?

Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.

Guaranty Bancorp's Sloan Ratio for the quarter that ended in Sep. 2018 was 4.52%.

As of Sep. 2018, Guaranty Bancorp has a Sloan Ratio of 4.52%, indicating the company is in the safe zone and there is no funny business with accruals.

Guaranty Bancorp Sloan Ratio % Historical Data

The historical data trend for Guaranty Bancorp's Sloan Ratio % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Guaranty Bancorp Sloan Ratio % Chart

Guaranty Bancorp Annual Data

Trend

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Sloan Ratio %

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9.52

9.20

10.52

1.71

4.70

Guaranty Bancorp Quarterly Data
	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18
Sloan Ratio %	Get a 7-Day Free Trial															7.66	4.70	4.30	5.10	4.52

Competitive Comparison of Guaranty Bancorp's Sloan Ratio %

For the Banks - Regional subindustry, Guaranty Bancorp's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Guaranty Bancorp's Sloan Ratio % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Guaranty Bancorp's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Guaranty Bancorp's Sloan Ratio % falls into.

Guaranty Bancorp Sloan Ratio % Calculation

Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.

Guaranty Bancorp's Sloan Ratio for the fiscal year that ended in Dec. 2017 is calculated as

Sloan Ratio	=	(Net Income (A: Dec. 2017 )	-	Cash Flow from Operations (A: Dec. 2017 )
	-	Cash Flow from Investing (A: Dec. 2017 ))	/	Total Assets (A: Dec. 2017 )
	=	(38.624	-	51.844
	-	-187.126)	/	3698.89
	=	4.70%

Guaranty Bancorp's Sloan Ratio for the quarter that ended in Sep. 2018 is calculated as

Sloan Ratio	=	(Net Income (TTM)	-	Cash Flow from Operations (TTM))
	-	Cash Flow from Investing (TTM))	/	Total Assets (Q: Sep. 2018 )
	=	(50.369	-	58.241
	-	-180.196)	/	3810.527
	=	4.52%

Guaranty Bancorp's Net Income for the trailing twelve months (TTM) ended in Sep. 2018 was 8.605 (Dec. 2017 ) + 13.557 (Mar. 2018 ) + 13.263 (Jun. 2018 ) + 14.944 (Sep. 2018 ) = $50.4 Mil.
Guaranty Bancorp's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2018 was 13.43 (Dec. 2017 ) + 15.849 (Mar. 2018 ) + 16.5 (Jun. 2018 ) + 12.462 (Sep. 2018 ) = $58.2 Mil.
Guaranty Bancorp's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2018 was -50.344 (Dec. 2017 ) + -33.122 (Mar. 2018 ) + -29.439 (Jun. 2018 ) + -67.291 (Sep. 2018 ) = $-180.2 Mil.

Guaranty Bancorp (NAS:GBNK) Sloan Ratio % Explanation

A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.

According to How to Beat the Market with the Sloan Ratio:

If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.

If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.

If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.

As of Sep. 2018, Guaranty Bancorp has a Sloan Ratio of 4.52%, indicating the company is in the safe zone and there is no funny business with accruals.

Guaranty Bancorp Sloan Ratio % Related Terms

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Guaranty Bancorp (Guaranty Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Guaranty Bancorp (NAS:GBNK) » Definitions » Sloan Ratio %

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Address

Website

http://www.gbnk.com

Guaranty Bancorp is a bank holding company providing banking and other financial services throughout Colorado market to consumers and to small and medium-sized businesses, including the owners and employees of those businesses.

Executives

Suzanne R Brennan	director	PACWEST BANCORP, 9701 WILSHIRE BOULEVARD, SUITE 700, BEVERLY HILLS CA 90212
W Kirk Wycoff	director	PATRIOT FINANCIAL PARTNERS, LP, 2929 ARCH STREET, 27TH FLOOR, PHILADELPHIA PA 19104
Eggemeyer John M Iii	director	PO BOX 1329, RANCHO SANTA FE CA 92067
Christopher G Treece	officer: EVP, CFO & Secretary	1331 17TH STREET, SUITE 200, DENVER CO 80202
Paul W Taylor	director, officer: President & CEO	1331 SEVENTEENTH STREET,, SUITE 200, DENVER CO 80202
Michael B Hobbs	officer: President, Guaranty Bank	1331 17TH STREET, SUITE 200, DENVER CO 80202
Albert C Yates	director	C/O COLORADO STATE UNIVERSITY, LAUREL HALL, ROOM 12, FORT COLLINS CO 80523
Ralph V Whitworth	10 percent owner	RELATIONAL INVESTORS LLC, 12400 HIGH BLUFF DRIVE, SUITE 600, SAN DIEGO CA 92130
Relational Investors Llc	10 percent owner	12400 HIGH BLUFF DRIVE, SUITE 600, SAN DIEGO CA 92130
William J Ruh	10 percent owner	PO BOX 1329, RANCHO SANTA FE CA 92067
James K Simons	officer: EVP & CCO	1331 SEVENTEENTH STREET, STE. 300, DENVER CO 80202
Kathleen Smythe	director	1331 17TH STREET, STE. 300, DENVER CO 80202
Patriot Financial Partners Gp, Lp	10 percent owner	FOUR RADNOR CORPORATE CENTER, SUITE 210, 100 MATSONFORD ROAD, RADNOR PA 19087
Patriot Financial Partners Gp, Llc	10 percent owner	2929 ARCH STREET, 27TH FLOOR, PHILADELPHIA PA 19104
Patriot Financial Partners Parallel, L.p.	10 percent owner	2929 ARCH STREET, 27TH FLOOR, PHILADELPHIA PA 19104