Green Bancorp, Inc. (GNBC) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Green Bancorp, Inc. (NASDAQ:GNBC) from a sell rating to a hold rating in a research note published on Tuesday 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 equities research analysts have also weighed in on GNBC. Piper Jaffray Companies reaffirmed a buy rating and issued a $26.00 target price on shares of Green Bancorp in a research report on Friday, October 27th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $24.00 target price on shares of Green Bancorp in a research report on Thursday, October 26th. SunTrust Banks, Inc. reaffirmed a hold rating and issued a $23.00 target price on shares of Green Bancorp in a research report on Friday, October 27th. Finally, BidaskClub raised Green Bancorp from a hold rating to a buy rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $24.75.
Green Bancorp (GNBC) traded up $0.65 during trading hours on Tuesday, reaching $22.50. The company’s stock had a trading volume of 132,355 shares, compared to its average volume of 184,351. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.78. The stock has a market cap of $834.66 million, a P/E ratio of 24.19 and a beta of 2.15.
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Several large investors have recently added to or reduced their stakes in GNBC. Bank of New York Mellon Corp grew its stake in shares of Green Bancorp by 32.3% in the first quarter. Bank of New York Mellon Corp now owns 92,323 shares of the financial services provider’s stock worth $1,644,000 after purchasing an additional 22,515 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Green Bancorp by 790.3% during the first quarter. JPMorgan Chase & Co. now owns 277,616 shares of the financial services provider’s stock valued at $4,942,000 after buying an additional 246,435 shares in the last quarter. American International Group Inc. boosted its stake in Green Bancorp by 7.1% during the first quarter. American International Group Inc. now owns 12,741 shares of the financial services provider’s stock valued at $227,000 after buying an additional 849 shares in the last quarter. Alliancebernstein L.P. bought a new position in Green Bancorp during the first quarter valued at about $206,000. Finally, Wellington Management Group LLP bought a new position in Green Bancorp during the first quarter valued at about $2,240,000. 60.58% of the stock is owned by institutional investors.
Green Bancorp Company Profile
Green Bancorp, Inc is a bank holding company. As of December 31, 2016, the Company’s subsidiary, Green Bank, N.A., a nationally chartered commercial bank, provided commercial and private banking services primarily to Texas based customers through 22 full service branches in the Houston and Dallas metropolitan statistical areas (MSAs) and other markets.
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