Greene County Bancorp (NASDAQ:GCBC) Share Price Passes Above 50-Day Moving Average - Here's Why

Key Points

• Price action: Greene County Bancorp's stock briefly moved above its 50‑day moving average (50‑day MA $22.82), trading as high as $22.84 with the last trade at $22.18 on Wednesday.
• Insider buying: A director and the CFO increased their positions in March, part of insiders' purchases of 11,580 shares (~$255,609) over the past three months, and insiders now own about 59.2% of the company.
• Fundamentals and outlook: the company has a market cap of ~$377.7M, a trailing P/E of 10.36 and quarterly EPS of $0.60, pays a $0.10 quarterly dividend (annualized $0.40, ~1.8% yield), and Weiss Ratings reaffirmed a Hold rating.

Greene County Bancorp, Inc. (NASDAQ:GCBC - Get Free Report)'s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $22.82 and traded as high as $22.84. Greene County Bancorp shares last traded at $22.18, with a volume of 10,891 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Greene County Bancorp in a research report on Monday, December 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Greene County Bancorp has an average rating of "Hold".

Greene County Bancorp Trading Down 0.5%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market capitalization of $377.66 million, a P/E ratio of 10.36 and a beta of 0.41. The company's fifty day simple moving average is $22.82 and its 200-day simple moving average is $22.81.

Greene County Bancorp (NASDAQ:GCBC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 21st. The real estate investment trust reported $0.60 EPS for the quarter. Greene County Bancorp had a net margin of 26.03% and a return on equity of 15.01%. The business had revenue of $41.27 million during the quarter.

Greene County Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.8%. Greene County Bancorp's payout ratio is 18.69%.

Insider Buying and Selling

In related news, Director Christopher Cannucciari purchased 1,300 shares of Greene County Bancorp stock in a transaction dated Monday, March 2nd. The stock was purchased at an average cost of $22.05 per share, with a total value of $28,665.00. Following the transaction, the director owned 4,378 shares in the company, valued at approximately $96,534.90. The trade was a 42.24% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Nick Barzee acquired 1,280 shares of the firm's stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average price of $22.55 per share, with a total value of $28,864.00. Following the completion of the purchase, the chief financial officer directly owned 4,520 shares in the company, valued at $101,926. The trade was a 39.51% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 11,580 shares of company stock worth $255,609 in the last three months. Corporate insiders own 59.20% of the company's stock.

Hedge Funds Weigh In On Greene County Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in GCBC. Goldman Sachs Group Inc. lifted its position in shares of Greene County Bancorp by 2.4% during the first quarter. Goldman Sachs Group Inc. now owns 20,909 shares of the real estate investment trust's stock valued at $504,000 after buying an additional 500 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Greene County Bancorp in the 1st quarter valued at about $296,000. Geode Capital Management LLC grew its position in shares of Greene County Bancorp by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 169,308 shares of the real estate investment trust's stock worth $3,763,000 after buying an additional 4,985 shares during the last quarter. Rhumbline Advisers grew its position in shares of Greene County Bancorp by 17.7% in the 2nd quarter. Rhumbline Advisers now owns 11,168 shares of the real estate investment trust's stock worth $248,000 after buying an additional 1,679 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake 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 in the last quarter. Hedge funds and other institutional investors own 13.39% of the company's stock.

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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