667,689 Shares in Greene County Bancorp, Inc. $GCBC Bought by BlackRock Inc.

Key Points

• BlackRock acquired 667,689 shares of Greene County Bancorp during the second quarter, valued at approximately $22.4 million and representing a 3.92% stake. Institutional investors and hedge funds collectively own 13.39% of the company.
• Greene County Bancorp reported quarterly EPS of $0.67 on $24.98 million in revenue, with a 28.14% net margin and 15.90% return on equity. The company also increased its quarterly dividend to $0.11 per share, implying a 1.3% yield.
• The stock opened at $34.74, near its 52-week high of $36.02, while Weiss Ratings upgraded it from “hold” to “buy.” However, director Michelle M. Plummer sold 10,000 shares, and insiders still own a substantial 59.20% of the company.

BlackRock Inc. acquired a new stake in Greene County Bancorp, Inc. (NASDAQ:GCBC - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 667,689 shares of the real estate investment trust's stock, valued at approximately $22,428,000. BlackRock Inc. owned about 3.92% of Greene County Bancorp at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of Greene County Bancorp by 2.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,909 shares of the real estate investment trust's stock worth $504,000 after acquiring an additional 500 shares during the period. Jane Street Group LLC acquired a new position in shares of Greene County Bancorp during the first quarter worth about $296,000. Geode Capital Management LLC increased its stake in shares of Greene County Bancorp by 3.0% during the second quarter. Geode Capital Management LLC now owns 169,308 shares of the real estate investment trust's stock worth $3,763,000 after acquiring an additional 4,985 shares during the period. Rhumbline Advisers raised its holdings in Greene County Bancorp by 17.7% during the second quarter. Rhumbline Advisers now owns 11,168 shares of the real estate investment trust's stock worth $248,000 after purchasing an additional 1,679 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in Greene County Bancorp during the second quarter worth about $241,000. 13.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Greene County Bancorp news, Director Michelle M. Plummer sold 10,000 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $28.77, for a total transaction of $287,700.00. Following the transaction, the director directly owned 99,560 shares in the company, valued at approximately $2,864,341.20. This represents a 9.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 59.20% of the company's stock.

Greene County Bancorp Price Performance

Greene County Bancorp stock opened at $34.74 on Thursday. Greene County Bancorp, Inc. has a one year low of $21.25 and a one year high of $36.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.65 and a current ratio of 0.65. The business has a fifty day moving average of $33.84 and a two-hundred day moving average of $27.69. The company has a market cap of $591.62 million, a P/E ratio of 14.41 and a beta of 0.39.

Greene County Bancorp (NASDAQ:GCBC - Get Free Report) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.67 EPS for the quarter. Greene County Bancorp had a net margin of 28.14% and a return on equity of 15.90%. The company had revenue of $24.98 million for the quarter.

Greene County Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were issued a dividend of $0.11 per share. This is an increase from Greene County Bancorp's previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. Greene County Bancorp's payout ratio is presently 18.26%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Greene County Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy".

About Greene County Bancorp

Greene County Bancorp, Inc is the bank holding company for Greene County Community Bank, a full-service commercial bank based in Waynesburg, Pennsylvania. The company traces its roots to the early 20th century and has cultivated a reputation for community-focused banking in Greene County and the surrounding region of southwestern Pennsylvania.

Through its subsidiary, the company offers a broad range of financial products and services, including personal and business deposit accounts, residential and commercial real estate loans, consumer installment loans, and agricultural financing.

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