Greene County Bancorp (NASDAQ:GCBC) Hits New 1-Year High - Still a Buy?

Key Points

• Greene County Bancorp shares hit a 52-week high, trading as high as $37.25 and last at $36.96, up from the prior close of $36.59.
• Weiss Ratings upgraded the stock from “buy (b-)” to “buy (b),” and MarketBeat reports an average analyst rating of Buy.
• The company reported quarterly EPS of $0.73 on revenue of $24.8 million and announced a quarterly dividend of $0.11 per share, equivalent to a 1.2% annualized yield.

Greene County Bancorp, Inc. (NASDAQ:GCBC - Get Free Report) shares reached a new 52-week high during trading on Thursday. The stock traded as high as $37.25 and last traded at $36.96, with a volume of 14,924 shares. The stock had previously closed at $36.59.

Analyst Upgrades and Downgrades

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

Greene County Bancorp Trading Up 0.6%

The business has a 50 day simple moving average of $34.92 and a 200-day simple moving average of $28.87. The stock has a market capitalization of $626.25 million, a price-to-earnings ratio of 14.00 and a beta of 0.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.65 and a quick ratio of 0.65.

Greene County Bancorp (NASDAQ:GCBC - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.73 EPS for the quarter. Greene County Bancorp had a return on equity of 16.67% and a net margin of 30.24%. The company had revenue of $24.80 million for the quarter.

Greene County Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.44 annualized dividend and a yield of 1.2%. Greene County Bancorp's dividend payout ratio is currently 16.79%.

Hedge Funds Weigh In On Greene County Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in GCBC. Northwestern Mutual Wealth Management Co. purchased a new position in Greene County Bancorp during the second quarter valued at approximately $42,000. Equitable Holdings Inc. purchased a new position in Greene County Bancorp in the second quarter worth approximately $232,000. Deutsche Bank AG purchased a new stake in shares of Greene County Bancorp in the 2nd quarter valued at $233,000. GSA Capital Partners LLP acquired a new position in Greene County Bancorp during the 2nd quarter worth $297,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Greene County Bancorp during the 2nd quarter worth approximately $386,000. 13.39% of the stock is currently owned by institutional investors and hedge funds.

Greene County Bancorp Company Profile

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, businesses and nonprofit organizations.

The Bank of Greene County offers deposit products, residential and commercial real estate loans, consumer lending, business loans and other financial services. Its product offerings include checking and savings accounts, certificates of deposit, online and mobile banking, treasury management and investment-related services.

Founded in 1889, the bank has a long history of serving communities in New York's Hudson Valley.

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