Green Bancorp Inc. (GNBC) Downgraded by Zacks Investment Research to “Hold”
Green Bancorp Inc. (NASDAQ:GNBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to 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 equities analysts have also weighed in on GNBC. Keefe, Bruyette & Woods boosted their target price on shares of Green Bancorp from $10.00 to $11.00 and gave the company a “market perform” rating in a report on Friday, July 29th. TheStreet upgraded shares of Green Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Jefferies Group reiterated a “hold” rating and issued a $9.50 target price on shares of Green Bancorp in a report on Thursday, July 7th. SunTrust Banks Inc. lowered shares of Green Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Finally, Hovde Group upgraded shares of Green Bancorp from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $8.25 to $9.75 in a report on Wednesday, June 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Green Bancorp has a consensus rating of “Hold” and a consensus price target of $10.21.
Shares of Green Bancorp (NASDAQ:GNBC) traded down 1.10% during trading on Monday, reaching $10.81. 35,444 shares of the company traded hands. Green Bancorp has a 52 week low of $6.61 and a 52 week high of $14.30. The company has a market capitalization of $395.85 million, a price-to-earnings ratio of 30.37 and a beta of 1.86. The firm’s 50 day moving average price is $10.37 and its 200-day moving average price is $8.93.
Green Bancorp (NASDAQ:GNBC) last posted its earnings results on Thursday, July 28th. The financial services provider reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Green Bancorp had a net margin of 7.80% and a return on equity of 3.74%. Equities analysts anticipate that Green Bancorp will post $0.33 EPS for the current fiscal year.
In other Green Bancorp news, CFO John P. Durie bought 20,000 shares of Green Bancorp stock in a transaction on Wednesday, August 3rd. The shares were bought at an average cost of $9.58 per share, for a total transaction of $191,600.00. Following the acquisition, the chief financial officer now directly owns 37,076 shares in the company, valued at $355,188.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.74% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in GNBC. Renaissance Technologies LLC raised its stake in Green Bancorp by 162.7% in the first quarter. Renaissance Technologies LLC now owns 207,800 shares of the financial services provider’s stock worth $1,573,000 after buying an additional 128,700 shares during the period. State Street Corp raised its stake in Green Bancorp by 32.0% in the first quarter. State Street Corp now owns 137,845 shares of the financial services provider’s stock worth $1,045,000 after buying an additional 33,432 shares during the period. Glenmede Trust Co. NA raised its stake in Green Bancorp by 100.0% in the second quarter. Glenmede Trust Co. NA now owns 18,800 shares of the financial services provider’s stock worth $163,000 after buying an additional 9,400 shares during the period. Geode Capital Management LLC raised its stake in Green Bancorp by 10.1% in the first quarter. Geode Capital Management LLC now owns 77,774 shares of the financial services provider’s stock worth $588,000 after buying an additional 7,136 shares during the period. Finally, M3F Inc. acquired a new stake in Green Bancorp during the second quarter worth about $217,000. 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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