Green Bancorp (NASDAQ:GNBC) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Green Bancorp (NASDAQ:GNBC) from a hold rating to a buy rating in a research note published on Wednesday, January 10th. Zacks Investment Research currently has $24.00 price objective 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. “

Several other equities research analysts also recently issued reports on the company. SunTrust Banks reaffirmed a hold rating and issued a $24.00 price target on shares of Green Bancorp in a research report on Tuesday, January 9th. BidaskClub cut shares of Green Bancorp from a hold rating to a sell rating in a research note on Wednesday, December 27th. ValuEngine cut shares of Green Bancorp from a buy rating to a hold rating in a research note on Friday, December 1st. Piper Jaffray Companies reiterated a buy rating and issued a $26.00 target price on shares of Green Bancorp in a research note on Friday, October 27th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $24.00 price target on shares of Green Bancorp in a report on Thursday, October 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $24.75.

Green Bancorp (NASDAQ:GNBC) opened at $22.37 on Wednesday. The company has a market cap of $852.80, a price-to-earnings ratio of 24.32 and a beta of 2.20. Green Bancorp has a 1 year low of $15.00 and a 1 year high of $24.40. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57.

In other Green Bancorp news, Director Associates L.L.C Istm sold 1,000,000 shares of Green Bancorp stock in a transaction on Monday, February 5th. The shares were sold at an average price of $23.25, for a total transaction of $23,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.23% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of GNBC. Hancock Holding Co. bought a new stake in Green Bancorp in the 2nd quarter valued at $8,848,000. Peregrine Capital Management LLC bought a new stake in Green Bancorp during the 3rd quarter worth about $8,849,000. Dimensional Fund Advisors LP lifted its position in Green Bancorp by 43.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 716,623 shares of the financial services provider’s stock worth $16,948,000 after buying an additional 215,665 shares in the last quarter. 361 Capital LLC bought a new stake in Green Bancorp during the 3rd quarter worth about $2,188,000. Finally, Prudential Financial Inc. bought a new stake in Green Bancorp during the 2nd quarter worth about $1,434,000. 62.95% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Green Bancorp (NASDAQ:GNBC) Raised to Buy at Zacks Investment Research” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this report on another publication, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2018/02/06/zacks-investment-research-upgrades-green-bancorp-gnbc-to-buy.html.

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.

Get a free copy of the Zacks research report on Green Bancorp (GNBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Green Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Green Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply