Zacks Investment Research Downgrades Green Bancorp (GNBC) to Hold

Green Bancorp (NASDAQ:GNBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, December 26th.

According to Zacks, “Green Bancorp, Inc. is a bank holding company for Green Bank, N.A. The Bank is a nationally chartered commercial bank providing commercial and private banking services. It offers deposit accounts comprising demand, savings, money market, and time accounts. The Company also provides loans, including residential real estate loans, home equity loans, home equity lines of credit, installment loans, unsecured and secured personal lines of credit, overdraft protection and letters of credit. It also provides a range of online banking solutions; and extended drive-through hours, and ATMs, as well as banking through telephone, mail, and personal appointment. Green Bancorp, Inc. is headquartered in Houston, Texas. “

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $24.00 price target on shares of Green Bancorp in a report on Thursday, October 26th. SunTrust Banks reiterated a “hold” rating and set a $23.00 price objective on shares of Green Bancorp in a research note on Friday, October 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $26.00 price objective on shares of Green Bancorp in a research note on Friday, October 27th. Finally, ValuEngine downgraded shares of Green Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.50.

Green Bancorp (NASDAQ GNBC) opened at $23.40 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. Green Bancorp has a 1-year low of $13.15 and a 1-year high of $24.40. The stock has a market cap of $861.19, a price-to-earnings ratio of 25.44 and a beta of 2.11.

A number of hedge funds and other institutional investors have recently bought and sold shares of GNBC. Macquarie Group Ltd. acquired a new position in Green Bancorp during the third quarter valued at $159,000. California Public Employees Retirement System purchased a new position in Green Bancorp in the second quarter valued at $246,000. Sei Investments Co. increased its holdings in Green Bancorp by 974.2% in the second quarter. Sei Investments Co. now owns 13,986 shares of the financial services provider’s stock valued at $271,000 after buying an additional 12,684 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Green Bancorp by 2.3% in the second quarter. Wells Fargo & Company MN now owns 15,037 shares of the financial services provider’s stock valued at $291,000 after buying an additional 341 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Green Bancorp by 61.2% in the second quarter. Alliancebernstein L.P. now owns 18,700 shares of the financial services provider’s stock valued at $363,000 after buying an additional 7,100 shares in the last quarter. Institutional investors own 63.25% of the company’s stock.

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Green Bancorp Company Profile

Green Bancorp, Inc is a bank holding company. As of December 31, 2016, the Company’s subsidiary, Green Bank, N.A., a nationally chartered commercial bank, provided commercial and private banking services primarily to Texas based customers through 22 full service branches in the Houston and Dallas metropolitan statistical areas (MSAs) and other markets.

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