Greene County Bancorp, Inc. (NASDAQ:GCBC) Sees Large Decline in Short Interest

Key Points

• Short interest fell 14.0% in April to 44,138 shares (about 0.6% of the stock), with a days-to-cover ratio of 4.3 based on average daily volume.
• Insiders increased holdings—CFO Nick Barzee bought 1,280 shares and Director Tejraj S. Hada bought 4,000 shares; insiders purchased 15,701 shares over the past three months and now own 59.20% of the company.
• Dividend announced: Greene County Bancorp declared a $0.10 quarterly dividend (annualized $0.40, yield 1.7%), with an ex-dividend date of May 15 and payment on May 29.

Greene County Bancorp, Inc. (NASDAQ:GCBC - Get Free Report) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 44,138 shares, a decline of 14.0% from the March 31st total of 51,332 shares. Currently, 0.6% of the company's stock are short sold. Based on an average daily volume of 10,282 shares, the days-to-cover ratio is currently 4.3 days.

Insider Activity

In other Greene County Bancorp news, CFO Nick Barzee bought 1,280 shares of Greene County Bancorp stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $22.55 per share, for a total transaction of $28,864.00. Following the purchase, the chief financial officer owned 4,520 shares of the company's stock, valued at $101,926. The trade was a 39.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tejraj S. Hada bought 4,000 shares of Greene County Bancorp stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average price of $21.95 per share, with a total value of $87,800.00. Following the completion of the purchase, the director directly owned 35,427 shares in the company, valued at $777,622.65. This trade represents a 12.73% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 15,701 shares of company stock worth $355,638. Corporate insiders own 59.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GCBC. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Greene County Bancorp by 250.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,400 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 1,000 shares during the period. BNP Paribas Financial Markets boosted its stake in Greene County Bancorp by 31.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,897 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 450 shares during the period. Tower Research Capital LLC TRC boosted its stake in Greene County Bancorp by 658.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 1,923 shares during the period. CWM LLC boosted its stake in Greene County Bancorp by 35.9% in the 3rd quarter. CWM LLC now owns 2,296 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 607 shares during the period. Finally, Two Sigma Investments LP bought a new stake in Greene County Bancorp in the 3rd quarter valued at $221,000. 13.39% of the stock is currently owned by institutional investors.

Greene County Bancorp Stock Performance

Shares of NASDAQ GCBC traded up $0.04 during midday trading on Friday, hitting $24.09. 8,809 shares of the company's stock were exchanged, compared to its average volume of 11,288. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.02. Greene County Bancorp has a 12 month low of $21.16 and a 12 month high of $26.04. The company's 50 day moving average price is $22.83 and its 200 day moving average price is $22.83. The firm has a market capitalization of $410.10 million, a PE ratio of 10.52 and a beta of 0.39.

Greene County Bancorp (NASDAQ:GCBC - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $0.62 EPS for the quarter. Greene County Bancorp had a return on equity of 15.71% and a net margin of 27.28%.The company had revenue of $23.89 million during the quarter.

Greene County Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 15th. Greene County Bancorp's payout ratio is currently 17.47%.

Greene County Bancorp Company Profile

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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