Greene County Bancorp (NASDAQ:GCBC) Reaches New 52-Week High - Time to Buy?

Key Points

• Greene County Bancorp shares hit a new 52-week high, reaching $37.25 before closing at $36.01, up 4.2% from the prior close. The stock trades above both its 50-day and 200-day moving averages.
• Weiss Ratings upgraded the stock from “buy (b-)” to “buy (b),” while the broader analyst consensus remains Buy. The company reported quarterly earnings of $0.73 per share on $24.8 million in revenue.
• The company declared a quarterly dividend of $0.11 per share, equivalent to $0.44 annually and a 1.2% yield. Institutional investors and hedge funds own 13.39% of the stock, with several firms recently initiating or increasing positions.

Shares of Greene County Bancorp, Inc. (NASDAQ:GCBC - Get Free Report) hit a new 52-week high during mid-day trading on Friday. The stock traded as high as $37.25 and last traded at $36.01, with a volume of 46,475 shares changing hands. The stock had previously closed at $34.57.

Analyst Ratings Changes

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

Greene County Bancorp Stock Up 4.2%

The firm has a 50-day moving average price of $34.72 and a two-hundred day moving average price of $30.77. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $612.89 million, a P/E ratio of 14.94 and a beta of 0.47.

Greene County Bancorp (NASDAQ:GCBC - Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.73 earnings per share for the quarter. Greene County Bancorp had a return on equity of 15.60% and a net margin of 28.14%. The firm had revenue of $24.80 million for the quarter.

Greene County Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, November 13th. Greene County Bancorp's dividend payout ratio is 18.26%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in Greene County Bancorp by 211.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,244 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 844 shares in the last quarter. Equitable Holdings Inc. bought a new position in Greene County Bancorp in the second quarter valued at approximately $232,000. Deutsche Bank AG bought a new position in Greene County Bancorp in the second quarter valued at approximately $233,000. GSA Capital Partners LLP bought a new position in Greene County Bancorp in the second quarter valued at approximately $297,000. Finally, Squarepoint Ops LLC bought a new position in Greene County Bancorp in the second quarter valued at approximately $386,000. 13.39% of the stock is 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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