Green Bancorp (NASDAQ:GNBC) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Green Bancorp (NASDAQ:GNBC) from a hold rating to a sell rating in a report published on Thursday, September 13th.

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 analysts also recently weighed in on the stock. ValuEngine downgraded shares of Green Bancorp from a buy rating to a hold rating in a research report on Thursday, August 2nd. Hovde Group downgraded shares of Green Bancorp from an outperform rating to a market perform rating in a research report on Monday, July 30th. Keefe, Bruyette & Woods raised shares of Green Bancorp from a market perform rating to an outperform rating in a research report on Friday, July 27th. Sandler O’Neill restated a buy rating and set a $29.00 price objective on shares of Green Bancorp in a research note on Thursday, July 26th. Finally, BidaskClub cut shares of Green Bancorp from a buy rating to a hold rating in a research note on Saturday, June 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $25.60.

Shares of NASDAQ:GNBC traded up $0.24 during trading hours on Thursday, hitting $24.13. The company’s stock had a trading volume of 224,600 shares, compared to its average volume of 271,279. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.00 and a current ratio of 1.00. Green Bancorp has a 52 week low of $19.55 and a 52 week high of $25.15. The firm has a market cap of $824.51 million, a P/E ratio of 19.94 and a beta of 2.11.

Green Bancorp (NASDAQ:GNBC) last issued its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Green Bancorp had a net margin of 19.41% and a return on equity of 10.86%. The firm had revenue of $45.25 million for the quarter, compared to the consensus estimate of $45.15 million. On average, research analysts predict that Green Bancorp will post 1.66 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in Green Bancorp by 10.9% during the first quarter. Wells Fargo & Company MN now owns 35,319 shares of the financial services provider’s stock worth $785,000 after buying an additional 3,471 shares during the last quarter. Rhumbline Advisers grew its position in shares of Green Bancorp by 181.1% in the first quarter. Rhumbline Advisers now owns 55,069 shares of the financial services provider’s stock valued at $1,225,000 after purchasing an additional 35,480 shares during the last quarter. Comerica Bank acquired a new position in shares of Green Bancorp in the first quarter valued at approximately $597,000. New York State Teachers Retirement System grew its position in shares of Green Bancorp by 541.2% in the first quarter. New York State Teachers Retirement System now owns 11,542 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 9,742 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Green Bancorp in the first quarter valued at approximately $2,194,000. Hedge funds and other institutional investors own 66.85% 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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