Green Bancorp, Inc. (NASDAQ:GNBC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 analysts have also weighed in on GNBC. Piper Jaffray Companies began coverage on Green Bancorp in a report on Wednesday, January 18th. They issued an “overweight” rating and a $18.00 price objective for the company. Sandler O’Neill upgraded Green Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, December 15th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $11.54.
Shares of Green Bancorp (NASDAQ:GNBC) traded down 0.61% during mid-day trading on Wednesday, reaching $16.25. The company’s stock had a trading volume of 82,163 shares. Green Bancorp has a 52-week low of $6.66 and a 52-week high of $17.55. The company’s market capitalization is $601.04 million. The firm’s 50 day moving average is $15.38 and its 200-day moving average is $12.12.
Green Bancorp (NASDAQ:GNBC) last announced its quarterly earnings results on Thursday, January 26th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.14. Green Bancorp had a negative return on equity of 0.16% and a negative net margin of 0.57%. Analysts forecast that Green Bancorp will post $0.92 EPS for the current year.
In other news, Director Steven D. Lerner sold 22,915 shares of the business’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $13.16, for a total transaction of $301,561.40. Following the sale, the director now directly owns 36,325 shares of the company’s stock, valued at $478,037. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John P. Durie sold 18,332 shares of the business’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $13.13, for a total value of $240,699.16. Following the sale, the insider now directly owns 75,408 shares in the company, valued at $990,107.04. The disclosure for this sale can be found here. Insiders have sold 56,247 shares of company stock worth $738,911 over the last ninety days. 16.74% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in GNBC. First Trust Advisors LP bought a new stake in shares of Green Bancorp during the third quarter worth about $124,000. Russell Investments Group Ltd. bought a new stake in shares of Green Bancorp during the fourth quarter worth about $164,000. California State Teachers Retirement System raised its stake in shares of 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. Park National Corp OH raised its stake in shares of Green Bancorp by 22.2% in the third quarter. Park National Corp OH now owns 47,950 shares of the financial services provider’s stock worth $524,000 after buying an additional 8,696 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Green Bancorp by 20.5% in the second quarter. Bank of New York Mellon Corp now owns 68,022 shares of the financial services provider’s stock worth $593,000 after buying an additional 11,573 shares during the period. 32.10% of the stock is currently owned by institutional investors.
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.
Get a free copy of the Zacks research report on Green Bancorp (GNBC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com