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

Key Points

• Greene County Bancorp (NASDAQ:GCBC) experienced a 20.6% decrease in short interest in August, dropping from 39,900 shares to 31,700 shares.
• The company increased its quarterly dividend to $0.10 per share, up from $0.09, representing an annualized yield of 1.6%.
• Institutional investors significantly raised their stakes, with Tower Research Capital LLC growing its position by 658.6% in the second quarter.

Greene County Bancorp, Inc. (NASDAQ:GCBC - Get Free Report) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 31,700 shares, a drop of 20.6% from the August 15th total of 39,900 shares. Approximately 0.5% of the company's stock are sold short. Based on an average trading volume of 23,100 shares, the days-to-cover ratio is currently 1.4 days. Based on an average trading volume of 23,100 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.5% of the company's stock are sold short.

Greene County Bancorp Price Performance

Shares of NASDAQ GCBC traded up $1.35 during trading on Thursday, hitting $24.73. The company had a trading volume of 12,421 shares, compared to its average volume of 30,722. The stock has a fifty day simple moving average of $24.09 and a two-hundred day simple moving average of $23.24. The firm has a market capitalization of $421.15 million, a price-to-earnings ratio of 13.51 and a beta of 0.50. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.02. Greene County Bancorp has a fifty-two week low of $20.00 and a fifty-two week high of $35.34.

Greene County Bancorp (NASDAQ:GCBC - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $0.55 EPS for the quarter. Greene County Bancorp had a return on equity of 13.80% and a net margin of 23.42%.The company had revenue of $20.47 million for the quarter.

Greene County Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.10 per share. This is an increase from Greene County Bancorp's previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 15th. Greene County Bancorp's dividend payout ratio is currently 21.86%.

Institutional Trading of Greene County Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in Greene County Bancorp by 658.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,215 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 1,923 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Greene County Bancorp by 31.1% in the second quarter. BNP Paribas Financial Markets now owns 1,897 shares of the real estate investment trust's stock worth $42,000 after buying an additional 450 shares during the last quarter. Bank of America Corp DE lifted its position in Greene County Bancorp by 173.8% during the 2nd quarter. Bank of America Corp DE now owns 17,449 shares of the real estate investment trust's stock worth $388,000 after acquiring an additional 11,075 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Greene County Bancorp in the second quarter valued at about $241,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of Greene County Bancorp by 202.8% during the 2nd quarter. Hsbc Holdings PLC now owns 37,029 shares of the real estate investment trust's stock worth $852,000 after acquiring an additional 24,800 shares during the period. Hedge funds and other institutional investors own 13.39% of the company's stock.

Greene County Bancorp Company Profile

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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