Green Bancorp, Inc. (GNBC) Stock Rating Upgraded by Zacks Investment Research
Green Bancorp, Inc. (NASDAQ:GNBC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $26.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 15.04% from the company’s previous close.
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. “
Separately, BidaskClub downgraded shares of Green Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $22.00.
Shares of Green Bancorp (NASDAQ:GNBC) traded down 0.22% during midday trading on Wednesday, reaching $22.60. 161,820 shares of the company were exchanged. The company has a market capitalization of $836.97 million, a PE ratio of 61.92 and a beta of 2.13. Green Bancorp has a 52-week low of $9.12 and a 52-week high of $24.10. The stock’s 50-day moving average price is $20.09 and its 200-day moving average price is $18.01.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Green Bancorp by 2.8% in the first quarter. Vanguard Group Inc. now owns 842,978 shares of the financial services provider’s stock worth $15,005,000 after buying an additional 22,700 shares during the last quarter. Patriot Financial Partners GP LP boosted its stake in Green Bancorp by 57.8% in the first quarter. Patriot Financial Partners GP LP now owns 545,919 shares of the financial services provider’s stock worth $9,717,000 after buying an additional 200,000 shares during the period. First Manhattan Co. boosted its stake in Green Bancorp by 7.2% in the first quarter. First Manhattan Co. now owns 486,093 shares of the financial services provider’s stock worth $5,312,000 after buying an additional 32,500 shares during the period. Context BH Capital Management LP boosted its stake in Green Bancorp by 1.4% in the first quarter. Context BH Capital Management LP now owns 404,028 shares of the financial services provider’s stock worth $7,192,000 after buying an additional 5,614 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Green Bancorp by 114.2% in the first quarter. Dimensional Fund Advisors LP now owns 346,791 shares of the financial services provider’s stock worth $6,173,000 after buying an additional 184,921 shares during the period. 57.03% of the stock is currently owned by institutional investors and hedge funds.
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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