Zacks Investment Research upgraded shares of Green Bancorp Inc. (NASDAQ:GNBC) from a hold rating to a buy rating in a report released on Wednesday. The firm currently has $12.00 target price on the financial services provider’s stock.
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 firms also recently issued reports on GNBC. Keefe, Bruyette & Woods boosted their price target on Green Bancorp from $10.00 to $11.00 and gave the company a market perform rating in a research note on Friday, July 29th. Jefferies Group reiterated a hold rating and set a $9.50 target price on shares of Green Bancorp in a research report on Thursday, July 7th. TheStreet upgraded Green Bancorp from a sell rating to a hold rating in a research report on Wednesday, July 27th. Hovde Group upgraded Green Bancorp from a market perform rating to an outperform rating and upped their target price for the company from $8.25 to $9.75 in a research report on Wednesday, June 8th. Finally, SunTrust Banks Inc. downgraded Green Bancorp from a buy rating to a neutral rating in a research report on Thursday, August 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $10.21.
Green Bancorp (NASDAQ:GNBC) opened at 10.84 on Wednesday. The firm has a market cap of $396.95 million, a P/E ratio of 30.45 and a beta of 1.88. The company has a 50-day moving average price of $10.27 and a 200-day moving average price of $8.88. Green Bancorp has a 12-month low of $6.61 and a 12-month high of $14.30.
Green Bancorp (NASDAQ:GNBC) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. Green Bancorp had a return on equity of 3.74% and a net margin of 7.80%. On average, analysts predict that Green Bancorp will post $0.33 earnings per share for the current year.
In other Green Bancorp news, CFO John P. Durie acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was acquired at an average cost of $9.58 per share, for a total transaction of $191,600.00. Following the transaction, the chief financial officer now directly owns 37,076 shares in the company, valued at $355,188.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.74% of the company’s stock.
Institutional investors have recently modified their holdings of the company. American International Group Inc. boosted its position in shares of Green Bancorp by 99.7% in the second quarter. American International Group Inc. now owns 11,906 shares of the financial services provider’s stock worth $104,000 after buying an additional 5,945 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in shares of 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 valued at $163,000 after buying an additional 9,400 shares during the last quarter. M3F Inc. bought a new stake in shares of Green Bancorp during the second quarter valued at $217,000. Teachers Advisors Inc. boosted its stake in shares of Green Bancorp by 42.1% in the second quarter. Teachers Advisors Inc. now owns 26,832 shares of the financial services provider’s stock valued at $234,000 after buying an additional 7,947 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Green Bancorp by 56.2% in the second quarter. Parametric Portfolio Associates LLC now owns 35,493 shares of the financial services provider’s stock valued at $309,000 after buying an additional 12,768 shares during the last quarter. 30.34% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Green Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.