Green Brick Partners, Inc. $GRBK Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 161,458 shares of Green Brick Partners during the second quarter, valued at approximately $12.9 million and representing 0.38% of the company.
• Institutional ownership remains high at 78.24%, with BlackRock, Dimensional Fund Advisors and other investment firms also establishing or increasing positions.
• Green Brick shares opened at $68.80, while the company reported quarterly EPS of $1.70, exceeding analyst expectations of $1.39 despite a 10.1% year-over-year revenue decline.

Bank of America Corp DE purchased a new stake in shares of Green Brick Partners, Inc. (NASDAQ:GRBK - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 161,458 shares of the financial services provider's stock, valued at approximately $12,923,000. Bank of America Corp DE owned 0.38% of Green Brick Partners as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Green Brick Partners in the second quarter worth $389,594,000. Dimensional Fund Advisors LP increased its stake in Green Brick Partners by 6.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,761,580 shares of the financial services provider's stock worth $113,529,000 after acquiring an additional 104,774 shares during the last quarter. Punch & Associates Investment Management Inc. raised its holdings in shares of Green Brick Partners by 1.7% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 358,341 shares of the financial services provider's stock valued at $23,095,000 after acquiring an additional 6,095 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Green Brick Partners in the 2nd quarter valued at about $27,857,000. Finally, GW&K Investment Management LLC raised its holdings in shares of Green Brick Partners by 7.6% in the 4th quarter. GW&K Investment Management LLC now owns 344,497 shares of the financial services provider's stock valued at $21,586,000 after acquiring an additional 24,362 shares in the last quarter. 78.24% of the stock is owned by hedge funds and other institutional investors.

Green Brick Partners Stock Up 1.5%

Shares of NASDAQ GRBK opened at $68.80 on Friday. Green Brick Partners, Inc. has a 12 month low of $60.44 and a 12 month high of $83.18. The company has a current ratio of 7.57, a quick ratio of 0.63 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 8.94 and a beta of 1.80. The business has a 50-day moving average of $70.56 and a 200-day moving average of $69.56.

Green Brick Partners (NASDAQ:GRBK - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.31. Green Brick Partners had a net margin of 17.70% and a return on equity of 25.35%. Green Brick Partners's revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.85 EPS. Sell-side analysts expect that Green Brick Partners, Inc. will post 8.34 earnings per share for the current fiscal year.

Green Brick Partners Profile

Green Brick Partners, Inc is a residential homebuilder and land development company headquartered in Plano, Texas. The company acquires and develops residential land and builds single-family homes, townhomes and other residential properties for a range of buyers, including first-time, move-up and luxury customers.

Green Brick operates primarily in high-growth markets in North Texas, including the Dallas-Fort Worth metropolitan area, and in the Atlanta, Georgia, region. Its homebuilding operations are conducted through several brands, including Trophy Signature Homes, CB JENI Homes, Normandy Homes and Southgate Homes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.