Green Bancorp Inc. (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. “
A number of other equities research analysts also recently issued reports on the stock. Hovde Group upgraded shares of Green Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $8.25 to $9.75 in a report on Wednesday, June 8th. Jefferies Group restated a “hold” rating and issued a $9.50 target price on shares of Green Bancorp in a report on Thursday, July 7th. TheStreet upgraded shares of Green Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. 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. Finally, SunTrust Banks Inc. downgraded shares of Green Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. 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 an average price target of $10.21.
Shares of Green Bancorp (NASDAQ:GNBC) traded down 1.10% during midday trading on Monday, hitting $10.81. 35,444 shares of the company’s stock were exchanged. The stock has a market cap of $395.85 million, a PE ratio of 30.37 and a beta of 1.86. Green Bancorp has a 1-year low of $6.61 and a 1-year high of $14.30. The stock’s 50 day moving average is $10.37 and its 200-day moving average is $8.93.
Green Bancorp (NASDAQ:GNBC) last issued its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. Green Bancorp had a net margin of 7.80% and a return on equity of 3.74%. Analysts predict that Green Bancorp will post $0.33 earnings per share for the current fiscal year.
In other Green Bancorp news, CFO John P. Durie purchased 20,000 shares of Green Bancorp stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $9.58 per share, with a total value of $191,600.00. Following the completion of the transaction, the chief financial officer now directly owns 37,076 shares in the company, valued at approximately $355,188.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.74% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GNBC. 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 period. Glenmede Trust Co. NA boosted its position 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 worth $163,000 after buying an additional 9,400 shares during the period. M3F Inc. acquired a new position in shares of Green Bancorp during the second quarter worth $217,000. Teachers Advisors Inc. boosted its position 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 worth $234,000 after buying an additional 7,947 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position 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 worth $309,000 after buying an additional 12,768 shares during the period. 30.34% of the stock is currently owned by hedge funds and other institutional investors.
Green Bancorp Company Profile
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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