Green Bancorp (NASDAQ:GNBC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 subject of a number of other research reports. ValuEngine cut Green Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub cut Green Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. SunTrust Banks reissued a “hold” rating and set a $24.00 price target on shares of Green Bancorp in a report on Tuesday, January 9th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $27.00 price target on shares of Green Bancorp in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Green Bancorp has a consensus rating of “Hold” and a consensus price target of $24.75.
Green Bancorp (NASDAQ:GNBC) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $40.75 million during the quarter, compared to the consensus estimate of $43.40 million. Green Bancorp had a return on equity of 9.92% and a net margin of 17.90%. sell-side analysts forecast that Green Bancorp will post 1.73 earnings per share for the current fiscal year.
In other Green Bancorp news, major shareholder Ffl Executive Partners Iii Lp sold 1,011,448 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $23.03, for a total value of $23,293,647.44. Following the completion of the transaction, the insider now owns 45,860 shares of the company’s stock, valued at approximately $1,056,155.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Associates L.L.C Istm sold 1,000,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $23.25, for a total value of $23,250,000.00. Following the completion of the transaction, the director now directly owns 45,860 shares of the company’s stock, valued at approximately $1,066,245. The disclosure for this sale can be found here. 16.23% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank acquired a new position in Green Bancorp in the 2nd quarter worth about $720,000. FFL Partners LLC acquired a new position in Green Bancorp in the 4th quarter worth about $76,090,000. Patriot Financial Partners GP LP acquired a new position in Green Bancorp in the 3rd quarter worth about $1,134,000. Renaissance Technologies LLC increased its holdings in Green Bancorp by 23.6% in the 4th quarter. Renaissance Technologies LLC now owns 245,000 shares of the financial services provider’s stock worth $3,724,000 after purchasing an additional 46,800 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in Green Bancorp in the 4th quarter worth about $783,000. 63.25% of the stock is owned by institutional investors and hedge funds.
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About Green Bancorp
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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