StockNews.com Downgrades Greene County Bancorp (NASDAQ:GCBC) to Sell

by · The Cerbat Gem

StockNews.com cut shares of Greene County Bancorp (NASDAQ:GCBC – Free Report) from a hold rating to a sell rating in a research report released on Friday morning.

Greene County Bancorp Stock Performance

NASDAQ GCBC opened at $21.41 on Friday. The firm has a market capitalization of $364.55 million, a P/E ratio of 13.81 and a beta of 0.36. The stock has a 50-day simple moving average of $24.21 and a two-hundred day simple moving average of $27.40. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.63 and a current ratio of 0.63. Greene County Bancorp has a fifty-two week low of $20.00 and a fifty-two week high of $37.25.

Greene County Bancorp (NASDAQ:GCBC – Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $0.44 EPS for the quarter. Greene County Bancorp had a net margin of 21.02% and a return on equity of 12.55%. During the same quarter last year, the firm earned $0.34 EPS.

Greene County Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, May 16th. Greene County Bancorp’s dividend payout ratio is presently 23.23%.

Insiders Place Their Bets

In related news, Director Tejraj S. Hada bought 7,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average cost of $23.39 per share, for a total transaction of $163,730.00. Following the acquisition, the director now directly owns 15,706 shares in the company, valued at approximately $367,363.34. This trade represents a 80.40 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay P. Cahalan purchased 1,944 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $26.45 per share, with a total value of $51,418.80. Following the acquisition, the director now owns 29,324 shares of the company’s stock, valued at approximately $775,619.80. The trade was a 7.10 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 9,784 shares of company stock worth $237,409. Corporate insiders own 5.10% of the company’s stock.

Institutional Trading of Greene County Bancorp

Several hedge funds have recently made changes to their positions in GCBC. Barclays PLC lifted its position in Greene County Bancorp by 8.4% in the fourth quarter. Barclays PLC now owns 12,703 shares of the real estate investment trust’s stock valued at $352,000 after buying an additional 980 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Greene County Bancorp by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 75,670 shares of the real estate investment trust’s stock worth $2,098,000 after acquiring an additional 1,025 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Greene County Bancorp by 248.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,530 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 1,091 shares in the last quarter. Wells Fargo & Company MN increased its stake in Greene County Bancorp by 9.5% during the fourth quarter. Wells Fargo & Company MN now owns 12,883 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 1,114 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Greene County Bancorp by 759.3% during the 4th quarter. Deutsche Bank AG now owns 1,521 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 1,344 shares in the last quarter. Hedge funds and other institutional investors own 13.39% of the company’s stock.

About Greene County Bancorp

(Get Free Report)

Greene County Bancorp, Inc operates as a holding company for The Bank of Greene County that provides various financial services in the United States. The company's deposit products include savings, NOW accounts, money market accounts, certificates of deposit, non-interest bearing checking accounts, and individual retirement accounts.

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