Green Bancorp (GNBC) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of Green Bancorp (NASDAQ:GNBC) from a hold rating to a sell rating in a research report report published on Thursday morning.
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 recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of Green Bancorp from a market perform rating to an outperform rating in a report on Friday, July 27th. Sandler O’Neill restated a buy rating and set a $29.00 price target on shares of Green Bancorp in a report on Thursday, July 26th. ValuEngine cut shares of Green Bancorp from a buy rating to a hold rating in a report on Thursday, August 2nd. Hovde Group cut shares of Green Bancorp from an outperform rating to a market perform rating in a report on Monday, July 30th. Finally, BidaskClub cut shares of Green Bancorp from a buy rating to a hold rating in a report on Saturday, June 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $25.60.
Green Bancorp (NASDAQ:GNBC) last announced its earnings results on Tuesday, July 24th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Green Bancorp had a net margin of 19.41% and a return on equity of 10.86%. The company had revenue of $45.25 million during the quarter, compared to analysts’ expectations of $45.15 million. analysts anticipate that Green Bancorp will post 1.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Wednesday, August 8th. Green Bancorp’s dividend payout ratio is currently 33.06%.
Several hedge funds have recently bought and sold shares of GNBC. BlackRock Inc. boosted its holdings in shares of Green Bancorp by 123.2% during the first quarter. BlackRock Inc. now owns 3,026,623 shares of the financial services provider’s stock worth $67,344,000 after purchasing an additional 1,670,387 shares during the period. Barclays PLC raised its position in Green Bancorp by 15,037.6% during the first quarter. Barclays PLC now owns 633,964 shares of the financial services provider’s stock valued at $14,107,000 after acquiring an additional 629,776 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Green Bancorp by 26.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,174,661 shares of the financial services provider’s stock valued at $26,136,000 after acquiring an additional 246,856 shares in the last quarter. Principal Financial Group Inc. raised its position in Green Bancorp by 1,216.4% during the first quarter. Principal Financial Group Inc. now owns 205,371 shares of the financial services provider’s stock valued at $4,570,000 after acquiring an additional 189,770 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in Green Bancorp during the first quarter valued at approximately $2,194,000. Institutional investors and hedge funds own 66.85% of the company’s stock.
About Green Bancorp
Green Bancorp, Inc operates as the bank holding company for Green Bank, N.A. that provides commercial and private banking services primarily in Texas. It offers deposit accounts, such as demand, savings, money market, and time accounts. The company also provides loans, including commercial and industrial loans, including commercial lines of credit, working capital loans, commercial real estate-backed loans, mortgage-warehouse lines, term loans, equipment financing, borrowing base loans, real estate construction loans, homebuilder loans, government guaranteed loans, purchased receivables financing, letters of credit, and other loan products, as well as acquisition, expansion, and development loans to national and regional companies, real estate developers, mortgage lenders, manufacturing and industrial companies, and other businesses.
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