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

Key Points

• Short interest fell 46.5% to 102,327 shares as of September 30, representing about 0.6% of Greene County Bancorp’s outstanding shares and a short-interest ratio of 1.9 days.
• Weiss Ratings upgraded the stock from “buy (b-)” to “buy (b),” while the company retains a consensus “Buy” rating from analysts.
• The company increased its quarterly dividend from $0.10 to $0.11 per share, equivalent to an annualized dividend of $0.44 and a 1.3% yield; institutional investors own 13.39% of the stock.

Greene County Bancorp, Inc. (NASDAQ:GCBC - Get Free Report) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 102,327 shares, a decline of 46.5% from the September 15th total of 191,241 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 54,222 shares, the short-interest ratio is presently 1.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Greene County Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating. According to MarketBeat, the stock currently has a consensus rating of "Buy".

Institutional Investors Weigh In On Greene County Bancorp

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Greene County Bancorp during the second quarter worth approximately $22,428,000. Dimensional Fund Advisors LP raised its holdings in Greene County Bancorp by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 92,607 shares of the real estate investment trust's stock valued at $2,076,000 after acquiring an additional 1,006 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Greene County Bancorp by 2.6% in the 1st quarter. Renaissance Technologies LLC now owns 51,000 shares of the real estate investment trust's stock valued at $1,143,000 after acquiring an additional 1,300 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Greene County Bancorp by 1.2% in the 1st quarter. Hsbc Holdings PLC now owns 42,421 shares of the real estate investment trust's stock valued at $968,000 after acquiring an additional 521 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Greene County Bancorp during the 2nd quarter worth $959,000. 13.39% of the stock is owned by institutional investors and hedge funds.

Greene County Bancorp Price Performance

Shares of NASDAQ GCBC traded down $0.14 during trading on Wednesday, reaching $34.05. The company had a trading volume of 1,146 shares, compared to its average volume of 26,294. Greene County Bancorp has a twelve month low of $21.25 and a twelve month high of $36.33. The stock has a market capitalization of $579.62 million, a PE ratio of 14.13 and a beta of 0.47. The stock has a 50-day moving average price of $34.75 and a two-hundred day moving average price of $30.18. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.02.

Greene County Bancorp (NASDAQ:GCBC - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.67 EPS for the quarter. The business had revenue of $46.12 million for the quarter. Greene County Bancorp had a return on equity of 15.60% and a net margin of 28.14%.

Greene County Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were issued a $0.11 dividend. This is a positive change from Greene County Bancorp's previous quarterly dividend of $0.10. The ex-dividend date was Friday, August 14th. This represents a $0.44 dividend on an annualized basis and a yield of 1.3%. Greene County Bancorp's payout ratio is currently 18.26%.

About Greene County Bancorp

Greene County Bancorp, Inc is a bank holding company headquartered in Catskill, New York. Through its principal subsidiary, The Bank of Greene County, the company provides community banking services to individuals, families, small businesses and commercial customers.

The Bank of Greene County offers deposit products, residential and commercial real estate lending, consumer loans, business loans, cash management and other traditional banking services. Its services are delivered through branch locations and digital banking channels, with a focus on relationship-based banking and local communities.

The institution traces its history to 1889 and primarily serves customers in the Hudson Valley and surrounding areas of upstate New York, including Greene, Columbia and Albany counties.

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