Green Bancorp (GNBC) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Green Bancorp (NASDAQ:GNBC) from a hold rating to a sell rating in a report published on Wednesday.

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. “

A number of other equities analysts also recently commented on the company. BidaskClub downgraded Green Bancorp from a buy rating to a hold rating in a report on Saturday, June 23rd. ValuEngine downgraded Green Bancorp from a buy rating to a hold rating in a report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $24.75.

Shares of NASDAQ:GNBC opened at $21.60 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.59. Green Bancorp has a 12-month low of $19.10 and a 12-month high of $24.40. The stock has a market capitalization of $808.84 million, a price-to-earnings ratio of 17.85 and a beta of 2.10.

Green Bancorp (NASDAQ:GNBC) last issued its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.12). Green Bancorp had a return on equity of 10.21% and a net margin of 18.32%. The business had revenue of $43.40 million during the quarter, compared to analyst estimates of $42.30 million. sell-side analysts expect that Green Bancorp will post 1.7 earnings per share for the current year.

In other news, major shareholder Fleischer & Lowe Gp I. Friedman sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $22.55, for a total value of $22,550,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Terry Earley acquired 5,000 shares of the business’s stock in a transaction dated Thursday, May 24th. The stock was purchased at an average price of $22.40 per share, for a total transaction of $112,000.00. The disclosure for this purchase can be found here. Company insiders own 16.23% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Great Lakes Advisors LLC purchased a new stake in shares of Green Bancorp during the 1st quarter valued at about $3,326,000. Ellington Management Group LLC purchased a new stake in shares of Green Bancorp during the 4th quarter valued at about $221,000. AXA purchased a new stake in shares of Green Bancorp during the 4th quarter valued at about $205,000. First Trust Advisors LP raised its holdings in shares of Green Bancorp by 247.7% during the 4th quarter. First Trust Advisors LP now owns 165,875 shares of the financial services provider’s stock valued at $3,367,000 after buying an additional 118,163 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Green Bancorp by 14.0% during the 1st quarter. Swiss National Bank now owns 42,300 shares of the financial services provider’s stock valued at $941,000 after buying an additional 5,200 shares during the period. Institutional investors and hedge funds own 67.01% of the company’s stock.

About Green Bancorp

Green Bancorp, Inc operates as the bank holding company for Green Bank, N.A. that provides commercial and private banking services primarily in Texas. It offers deposit accounts, such as demand, savings, money market, and time accounts. The company also provides loans, including commercial and industrial loans, including commercial lines of credit, working capital loans, commercial real estate-backed loans, mortgage-warehouse lines, term loans, equipment financing, borrowing base loans, real estate construction loans, homebuilder loans, government guaranteed loans, purchased receivables financing, letters of credit, and other loan products, as well as acquisition, expansion, and development loans to national and regional companies, real estate developers, mortgage lenders, manufacturing and industrial companies, and other businesses.

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