Zacks Investment Research Upgrades Green Bancorp Inc. (GNBC) to “Buy”
Green Bancorp Inc. (NASDAQ:GNBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $12.00 price objective on the financial services provider’s stock. Zacks Investment Research’s price objective points to a potential upside of 12.78% from the stock’s current price.
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 research analysts have also weighed in on GNBC. Hovde Group raised shares of Green Bancorp from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $8.25 to $9.75 in a report on Wednesday, June 8th. SunTrust Banks Inc. lowered shares of Green Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Jefferies Group reissued a “hold” rating and set a $9.50 price objective on shares of Green Bancorp in a report on Thursday, July 7th. Keefe, Bruyette & Woods raised their price objective on shares of Green Bancorp from $10.00 to $11.00 and gave the stock a “market perform” rating in a report on Friday, July 29th. Finally, TheStreet raised shares of Green Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Green Bancorp presently has an average rating of “Hold” and an average price target of $10.21.
Green Bancorp (NASDAQ:GNBC) opened at 10.64 on Wednesday. The stock has a market capitalization of $389.63 million, a PE ratio of 29.89 and a beta of 1.88. Green Bancorp has a 12-month low of $6.61 and a 12-month high of $14.30. The company’s 50-day moving average is $10.30 and its 200 day moving average is $8.89.
Green Bancorp (NASDAQ:GNBC) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.10 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.10. Green Bancorp had a net margin of 7.80% and a return on equity of 3.74%. On average, analysts predict that Green Bancorp will post $0.33 EPS for the current year.
In other Green Bancorp news, CFO John P. Durie purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average cost of $9.58 per share, with a total value of $191,600.00. Following the acquisition, the chief financial officer now owns 37,076 shares of the company’s stock, valued at approximately $355,188.08. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 16.74% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Green Bancorp by 3.6% in the second quarter. Vanguard Group Inc. now owns 624,121 shares of the financial services provider’s stock valued at $5,442,000 after buying an additional 21,472 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Green Bancorp by 44.6% in the second quarter. BlackRock Fund Advisors now owns 532,073 shares of the financial services provider’s stock valued at $4,640,000 after buying an additional 164,220 shares in the last quarter. First Manhattan Co. increased its stake in shares of Green Bancorp by 0.9% in the second quarter. First Manhattan Co. now owns 479,743 shares of the financial services provider’s stock valued at $4,183,000 after buying an additional 4,100 shares in the last quarter. BlackRock Advisors LLC increased its stake in shares of Green Bancorp by 0.4% in the second quarter. BlackRock Advisors LLC now owns 437,503 shares of the financial services provider’s stock valued at $3,815,000 after buying an additional 1,671 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Green Bancorp by 80.7% in the second quarter. State Street Corp now owns 249,094 shares of the financial services provider’s stock valued at $2,173,000 after buying an additional 111,249 shares in the last quarter. Hedge funds and other institutional investors own 30.34% of the company’s stock.
About Green Bancorp
Green Bancorp, Inc is a bank holding company. The Company’s subsidiary, Green Bank, N.A., a nationally chartered commercial bank, provides commercial and private banking services primarily to Texas based customers through approximately 22 full service branches in the Houston and Dallas metropolitan statistical areas (MSAs) and other markets.
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