Green Bancorp Inc (GNBC) Expected to Post Quarterly Sales of $47.05 Million

Brokerages predict that Green Bancorp Inc (NASDAQ:GNBC) will announce $47.05 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Green Bancorp’s earnings, with the lowest sales estimate coming in at $46.30 million and the highest estimate coming in at $47.80 million. Green Bancorp posted sales of $39.67 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.6%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that Green Bancorp will report full-year sales of $184.15 million for the current fiscal year, with estimates ranging from $182.00 million to $186.30 million. For the next financial year, analysts forecast that the company will post sales of $200.50 million per share, with estimates ranging from $198.40 million to $202.60 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Green Bancorp.

Green Bancorp (NASDAQ:GNBC) last issued its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Green Bancorp had a return on equity of 10.86% and a net margin of 19.41%. The company had revenue of $45.25 million for the quarter, compared to the consensus estimate of $45.15 million.

A number of equities research analysts have commented on GNBC shares. BidaskClub cut Green Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, May 4th. Hovde Group cut Green Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday. ValuEngine upgraded Green Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Keefe, Bruyette & Woods upgraded Green Bancorp from a “market perform” rating to an “outperform” rating in a research note on Friday. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $29.00 price target on shares of Green Bancorp in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $25.60.

In other news, CFO Terry Earley acquired 5,000 shares of Green Bancorp 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Company insiders own 13.98% of the company’s stock.

Large investors have recently made changes to their positions in the company. UBS Group AG raised its stake in shares of Green Bancorp by 218.8% in the first quarter. UBS Group AG now owns 4,823 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 3,310 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Green Bancorp in the second quarter worth about $132,000. Mason Street Advisors LLC purchased a new position in shares of Green Bancorp in the first quarter worth about $152,000. Engineers Gate Manager LP purchased a new position in shares of Green Bancorp in the first quarter worth about $216,000. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Green Bancorp in the first quarter worth about $218,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.

Green Bancorp traded down $0.20, reaching $24.10, during midday trading on Friday, MarketBeat Ratings reports. The company’s stock had a trading volume of 289,113 shares, compared to its average volume of 298,313. 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. The stock has a market cap of $905.75 million, a PE ratio of 20.12 and a beta of 2.10.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 23rd. Shareholders of record on Thursday, August 9th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, August 8th. Green Bancorp’s dividend payout ratio (DPR) is presently 33.06%.

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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