Green Bancorp (NASDAQ:GNBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
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. “
Several other analysts have also recently weighed in on GNBC. SunTrust Banks reaffirmed a “hold” rating and issued a $24.00 price target on shares of Green Bancorp in a report on Tuesday, January 9th. ValuEngine raised Green Bancorp from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $27.00 price target on shares of Green Bancorp in a report on Monday, January 29th. Finally, BidaskClub raised Green Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.75.
Shares of Green Bancorp (NASDAQ:GNBC) opened at $23.25 on Monday. Green Bancorp has a 1-year low of $15.18 and a 1-year high of $24.40. The firm has a market capitalization of $862.96, a PE ratio of 30.59 and a beta of 2.19. 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 (NASDAQ:GNBC) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Green Bancorp had a return on equity of 9.92% and a net margin of 17.90%. The firm had revenue of $40.75 million for the quarter, compared to analysts’ expectations of $43.40 million. equities research analysts forecast that Green Bancorp will post 1.73 earnings per share for the current year.
In related news, Director Associates L.L.C Istm sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $23.25, for a total transaction of $23,250,000.00. Following the transaction, the director now directly owns 45,860 shares of the company’s stock, valued at approximately $1,066,245. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ffl Executive Partners Iii Lp sold 1,011,448 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $23.03, for a total value of $23,293,647.44. Following the transaction, the insider now directly owns 45,860 shares in the company, valued at $1,056,155.80. The disclosure for this sale can be found here. Company insiders own 16.23% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Green Bancorp by 8.2% during the 2nd quarter. Vanguard Group Inc. now owns 911,761 shares of the financial services provider’s stock valued at $17,688,000 after buying an additional 68,783 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Green Bancorp by 43.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 716,623 shares of the financial services provider’s stock valued at $16,948,000 after buying an additional 215,665 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Green Bancorp by 116.5% during the 4th quarter. Millennium Management LLC now owns 460,447 shares of the financial services provider’s stock valued at $9,347,000 after buying an additional 247,731 shares in the last quarter. State Street Corp raised its holdings in shares of Green Bancorp by 8.5% during the 2nd quarter. State Street Corp now owns 353,721 shares of the financial services provider’s stock valued at $6,864,000 after buying an additional 27,747 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Green Bancorp by 1.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 280,159 shares of the financial services provider’s stock valued at $6,584,000 after buying an additional 4,118 shares in the last quarter. 63.25% of the stock is currently owned by institutional investors.
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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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