Zacks Investment Research upgraded shares of Green Bancorp (NASDAQ:GNBC) from a hold rating to a buy rating in a research note released on Wednesday. They currently have $24.00 price target on the financial services provider’s stock.
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 several other reports. Keefe, Bruyette & Woods reiterated a hold rating and issued a $23.00 price target on shares of Green Bancorp in a report on Wednesday, October 4th. BidaskClub downgraded Green Bancorp from a hold rating to a sell rating in a report on Wednesday, December 27th. ValuEngine downgraded Green Bancorp from a buy rating to a hold rating in a report on Friday, December 1st. SunTrust Banks reiterated a hold rating and issued a $24.00 price target on shares of Green Bancorp in a report on Tuesday, January 9th. Finally, Piper Jaffray Companies restated a buy rating and set a $26.00 price objective on shares of Green Bancorp in a report on Friday, October 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Green Bancorp presently has a consensus rating of Hold and a consensus price target of $24.50.
Shares of Green Bancorp (NASDAQ GNBC) traded up $0.30 on Wednesday, reaching $23.40. The company’s stock had a trading volume of 157,231 shares, compared to its average volume of 178,906. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market cap of $872.38, a P/E ratio of 25.16 and a beta of 2.11. Green Bancorp has a 52 week low of $13.15 and a 52 week high of $24.40.
Hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank acquired a new stake in shares of Green Bancorp during the 2nd quarter worth $720,000. Hancock Holding Co. acquired a new stake in shares of Green Bancorp during the 2nd quarter worth $8,848,000. Northern Trust Corp increased its holdings in shares of Green Bancorp by 12.4% during the 2nd quarter. Northern Trust Corp now owns 233,980 shares of the financial services provider’s stock worth $4,539,000 after buying an additional 25,884 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Green Bancorp by 107.6% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 70,200 shares of the financial services provider’s stock worth $1,362,000 after buying an additional 36,383 shares during the last quarter. Finally, Phocas Financial Corp. increased its holdings in shares of Green Bancorp by 4.6% during the 2nd quarter. Phocas Financial Corp. now owns 604,901 shares of the financial services provider’s stock worth $11,735,000 after buying an additional 26,829 shares during the last quarter. Institutional investors and hedge funds own 63.25% of the company’s stock.
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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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