Hsbc Holdings PLC Takes Position in Greene County Bancorp, Inc. $GCBC

Key Points

• Hsbc Holdings PLC initiated a position in Greene County Bancorp, purchasing 40,222 shares valued at approximately $1.35 million, or 0.24% of the company. Institutional investors collectively own 13.39% of the stock.
• Greene County Bancorp reported quarterly EPS of $0.67 on $24.98 million in revenue, with a 15.90% return on equity and a 28.14% net margin.
• The company increased its quarterly dividend from $0.10 to $0.11 per share, equivalent to an annualized $0.44 dividend and a 1.3% yield; analysts maintain an average “Hold” rating.

Hsbc Holdings PLC bought a new position in Greene County Bancorp, Inc. (NASDAQ:GCBC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 40,222 shares of the real estate investment trust's stock, valued at approximately $1,354,000. Hsbc Holdings PLC owned about 0.24% of Greene County Bancorp at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GCBC. BlackRock Inc. purchased a new stake in Greene County Bancorp during the second quarter valued at $22,428,000. Raymond James Financial Inc. bought a new position in Greene County Bancorp in the third quarter valued at about $790,000. Bank of New York Mellon Corp purchased a new position in Greene County Bancorp in the second quarter worth about $959,000. Covalent Partners LLC boosted its position in Greene County Bancorp by 37.9% in the fourth quarter. Covalent Partners LLC now owns 63,000 shares of the real estate investment trust's stock worth $1,400,000 after purchasing an additional 17,329 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Greene County Bancorp during the 1st quarter valued at about $296,000. 13.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Michelle M. Plummer sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $28.77, for a total transaction of $287,700.00. Following the completion of the transaction, the director directly owned 99,560 shares in the company, valued at approximately $2,864,341.20. The trade was a 9.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 59.20% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Greene County Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".

Greene County Bancorp Price Performance

Shares of Greene County Bancorp stock opened at $34.39 on Tuesday. The stock has a market cap of $585.66 million, a P/E ratio of 14.27 and a beta of 0.39. 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 stock's fifty day moving average is $33.63 and its 200 day moving average is $27.53. Greene County Bancorp, Inc. has a one year low of $21.25 and a one year high of $36.02.

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

Greene County Bancorp Increases Dividend

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

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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