Greene County Bancorp (NASDAQ:GCBC) Sees Large Volume Increase - Here's What Happened

Key Points

• Greene County Bancorp shares experienced unusually high trading volume, with about 28,696 shares changing hands—11% above the average—while trading near $35.73.
• Weiss Ratings upgraded the stock from “buy (b-)” to “buy (b),” and the company reported quarterly EPS of $0.73 on revenue of $24.8 million.
• The company declared a quarterly dividend of $0.11 per share, equivalent to $0.44 annually and a 1.3% yield; institutional investors own 13.39% of the stock.

Greene County Bancorp, Inc. (NASDAQ:GCBC - Get Free Report) shares saw unusually-strong trading volume on Wednesday. Approximately 28,696 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 25,969 shares. The stock last traded at $35.7290 and had previously closed at $35.82.

Analyst Ratings Changes

Separately, Weiss Ratings raised 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. According to MarketBeat, the stock presently has an average rating of "Buy".

Greene County Bancorp Stock Down 2.3%

The firm has a market cap of $595.64 million, a P/E ratio of 13.38 and a beta of 0.47. The business's 50 day moving average is $34.77 and its 200-day moving average is $28.47.

Greene County Bancorp (NASDAQ:GCBC - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.73 EPS for the quarter. The company had revenue of $24.80 million for the quarter.

Greene County Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.44 dividend on an annualized basis and a yield of 1.3%. Greene County Bancorp's dividend payout ratio (DPR) is currently 16.79%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC bought a new stake in Greene County Bancorp in the second quarter valued at $386,000. Northwestern Mutual Wealth Management Co. boosted its position in Greene County Bancorp by 211.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,244 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 844 shares in the last quarter. Equitable Holdings Inc. bought a new stake in Greene County Bancorp during the second quarter worth about $232,000. Bank of America Corp DE acquired a new stake in shares of Greene County Bancorp during the second quarter worth approximately $643,000. Finally, Hsbc Holdings PLC bought a new position in shares of Greene County Bancorp in the second quarter valued at approximately $1,354,000. 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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