38,780 Shares in Green Bancorp, Inc. (GNBC) Purchased by Convergence Investment Partners LLC
Convergence Investment Partners LLC acquired a new stake in shares of Green Bancorp, Inc. (NASDAQ:GNBC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 38,780 shares of the financial services provider’s stock, valued at approximately $917,000. Convergence Investment Partners LLC owned 0.10% of Green Bancorp at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of GNBC. Macquarie Group Ltd. bought a new position in Green Bancorp in the 3rd quarter worth $159,000. Alliancebernstein L.P. bought a new position in Green Bancorp in the 1st quarter worth $206,000. California Public Employees Retirement System bought a new position in Green Bancorp in the 2nd quarter worth $246,000. Sei Investments Co. boosted its holdings in Green Bancorp by 974.2% in the 2nd quarter. Sei Investments Co. now owns 13,986 shares of the financial services provider’s stock worth $271,000 after buying an additional 12,684 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Green Bancorp by 2.3% in the 2nd quarter. Wells Fargo & Company MN now owns 15,037 shares of the financial services provider’s stock worth $291,000 after buying an additional 341 shares during the period. 63.25% of the stock is owned by institutional investors.
Several brokerages have commented on GNBC. ValuEngine cut shares of Green Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Green Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday, November 20th. SunTrust Banks reiterated a “hold” rating and issued a $23.00 price target on shares of Green Bancorp in a research note on Friday, October 27th. Piper Jaffray Companies reiterated a “buy” rating and issued a $26.00 price target on shares of Green Bancorp in a research note on Friday, October 27th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $24.00 price target on shares of Green Bancorp in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $24.25.
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About Green Bancorp
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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