Green Bancorp (GNBC) Upgraded by Keefe, Bruyette & Woods to “Outperform”

Keefe, Bruyette & Woods upgraded shares of Green Bancorp (NASDAQ:GNBC) from a market perform rating to an outperform rating in a report released on Friday, July 27th, MarketBeat reports.

Other analysts have also issued research reports about the company. Sandler O’Neill reissued a buy rating and issued a $29.00 target price on shares of Green Bancorp in a report on Thursday, July 26th. BidaskClub lowered Green Bancorp from a buy rating to a hold rating in a research note on Saturday, June 23rd. ValuEngine lowered Green Bancorp from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research lowered Green Bancorp from a hold rating to a sell rating in a research note on Wednesday, June 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Green Bancorp currently has a consensus rating of Hold and a consensus price target of $25.60.

Green Bancorp traded down $0.25, hitting $24.20, during trading hours on Friday, Marketbeat Ratings reports. The company’s stock had a trading volume of 159,795 shares, compared to its average volume of 296,235. The stock has a market capitalization of $912.19 million, a price-to-earnings ratio of 17.85 and a beta of 2.14. 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 $19.50 and a 52-week high of $25.15.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Wednesday, August 8th. Green Bancorp’s payout ratio is currently 33.06%.

In other news, major shareholder Fleischer & Lowe Gp I. Friedman sold 1,000,000 shares of the business’s stock in a transaction on 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 accessible through this link. Also, CFO Terry Earley acquired 5,000 shares of the company’s stock in a transaction dated Thursday, May 24th. The stock was purchased at an average cost of $22.40 per share, for a total transaction of $112,000.00. The disclosure for this purchase can be found here. 16.23% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in GNBC. BlackRock Inc. raised its position in shares of Green Bancorp by 123.2% during the first quarter. BlackRock Inc. now owns 3,026,623 shares of the financial services provider’s stock worth $67,344,000 after purchasing an additional 1,670,387 shares during the period. Barclays PLC raised its position in shares of Green Bancorp by 15,037.6% during the first quarter. Barclays PLC now owns 633,964 shares of the financial services provider’s stock worth $14,107,000 after purchasing an additional 629,776 shares during the period. Millennium Management LLC raised its position in shares of Green Bancorp by 116.5% during the fourth quarter. Millennium Management LLC now owns 460,447 shares of the financial services provider’s stock worth $9,347,000 after purchasing an additional 247,731 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Green Bancorp by 26.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,174,661 shares of the financial services provider’s stock worth $26,136,000 after purchasing an additional 246,856 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Green Bancorp by 1,216.4% during the first quarter. Principal Financial Group Inc. now owns 205,371 shares of the financial services provider’s stock worth $4,570,000 after purchasing an additional 189,770 shares during the period. 66.97% of the stock is currently owned by institutional investors.

Green Bancorp Company Profile

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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