Zacks Investment Research Downgrades Green Bancorp Inc. (GNBC) to Hold
Green Bancorp Inc. (NASDAQ:GNBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “
GNBC has been the topic of several other research reports. SunTrust Banks Inc. cut shares of Green Bancorp from a “buy” rating to a “neutral” rating in a report on Thursday, August 25th. Hovde Group raised shares of Green Bancorp from a “market perform” rating to an “outperform” rating and raised their target price for the company from $8.25 to $9.75 in a report on Wednesday, June 8th. TheStreet raised shares of Green Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Jefferies Group reaffirmed a “hold” rating and issued a $9.50 target price on shares of Green Bancorp in a report on Thursday, July 7th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Green Bancorp currently has an average rating of “Hold” and a consensus target price of $10.21.
Green Bancorp (NASDAQ:GNBC) opened at 10.82 on Monday. Green Bancorp has a 1-year low of $6.61 and a 1-year high of $14.30. The firm has a market capitalization of $396.22 million, a PE ratio of 30.39 and a beta of 1.86. The company has a 50 day moving average of $10.39 and a 200 day moving average of $8.95.
Green Bancorp (NASDAQ:GNBC) last issued its earnings results on Thursday, July 28th. The financial services provider reported $0.10 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. Green Bancorp had a net margin of 7.80% and a return on equity of 3.74%. Analysts forecast that Green Bancorp will post $0.33 EPS for the current year.
In other Green Bancorp news, CFO John P. Durie bought 20,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $9.58 per share, for a total transaction of $191,600.00. Following the completion of the transaction, the chief financial officer now owns 37,076 shares in the company, valued at approximately $355,188.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 16.74% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. M3F Inc. acquired a new position in shares of Green Bancorp during the second quarter worth about $217,000. Victory Capital Management Inc. raised its position in Green Bancorp by 31.0% in the second quarter. Victory Capital Management Inc. now owns 62,050 shares of the financial services provider’s stock worth $541,000 after buying an additional 14,700 shares during the period. Glenmede Trust Co. NA raised its position 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. Context BH Capital Management LP raised its position in Green Bancorp by 5.7% in the second quarter. Context BH Capital Management LP now owns 227,142 shares of the financial services provider’s stock worth $1,981,000 after buying an additional 12,223 shares during the period. Finally, California State Teachers Retirement System raised its position in Green Bancorp by 41.1% in the second quarter. California State Teachers Retirement System now owns 43,369 shares of the financial services provider’s stock worth $378,000 after buying an additional 12,626 shares during the period. Institutional investors and hedge funds 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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