Green Bancorp, Inc. (GNBC) Downgraded to “Hold” at Zacks Investment Research

Green Bancorp, Inc. (NASDAQ:GNBC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday, July 4th.

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. “

Green Bancorp (NASDAQ:GNBC) traded down 0.25% during mid-day trading on Tuesday, reaching $20.15. 35,169 shares of the company traded hands. Green Bancorp has a 52-week low of $9.12 and a 52-week high of $20.55. The company has a market capitalization of $745.83 million, a P/E ratio of 179.91 and a beta of 2.08. The stock has a 50 day moving average price of $19.60 and a 200-day moving average price of $17.61.

Green Bancorp (NASDAQ:GNBC) last posted its earnings results on Thursday, April 27th. The financial services provider reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.07. Green Bancorp had a return on equity of 1.03% and a net margin of 2.56%. The business had revenue of $38.14 million during the quarter, compared to analysts’ expectations of $36.70 million. Analysts expect that Green Bancorp will post $1.06 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Green Bancorp during the fourth quarter worth $164,000. TFS Capital LLC acquired a new position in shares of Green Bancorp during the first quarter worth approximately $191,000. Citadel Advisors LLC acquired a new position in shares of Green Bancorp during the first quarter worth approximately $193,000. Alliancebernstein L.P. acquired a new position in shares of Green Bancorp during the first quarter worth approximately $206,000. Finally, American International Group Inc. increased its stake in shares of Green Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 12,741 shares of the financial services provider’s stock valued at $227,000 after buying an additional 849 shares during the last quarter. Institutional investors and hedge funds own 57.06% of the company’s stock.

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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