Green Bancorp (NASDAQ:GNBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $24.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 7.87% from the stock’s current price.
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 restated a “hold” rating and set a $23.00 price objective on shares of Green Bancorp in a report on Friday, October 27th. Keefe, Bruyette & Woods restated a “hold” rating and set a $24.00 price objective on shares of Green Bancorp in a report on Thursday, October 26th. 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. ValuEngine downgraded Green Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, BidaskClub downgraded Green Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $24.50.
Green Bancorp (GNBC) traded up $0.80 during mid-day trading on Wednesday, reaching $22.25. The company’s stock had a trading volume of 210,227 shares, compared to its average volume of 171,014. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. Green Bancorp has a 52 week low of $13.15 and a 52 week high of $24.40. The stock has a market cap of $831.36, a P/E ratio of 24.45 and a beta of 2.11.
Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank bought a new stake in shares of Green Bancorp in the 2nd quarter valued at approximately $720,000. Northern Trust Corp increased its holdings in shares of Green Bancorp by 12.4% in the 2nd quarter. Northern Trust Corp now owns 233,980 shares of the financial services provider’s stock valued at $4,539,000 after acquiring an additional 25,884 shares during the last quarter. Hancock Holding Co. bought a new stake in shares of Green Bancorp in the 2nd quarter valued at approximately $8,848,000. Phocas Financial Corp. increased its holdings in shares of Green Bancorp by 4.6% in the 2nd quarter. Phocas Financial Corp. now owns 604,901 shares of the financial services provider’s stock valued at $11,735,000 after acquiring an additional 26,829 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Green Bancorp by 107.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 70,200 shares of the financial services provider’s stock valued at $1,362,000 after acquiring an additional 36,383 shares during the last quarter. Institutional investors and hedge funds own 63.25% of the company’s stock.
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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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