Greene County Bancorp (NASDAQ:GCBC) Sets New 12-Month High - Here's Why

Key Points

• Greene County Bancorp shares reached a new 52-week high, trading as high as $36.27, while the stock’s consensus analyst rating remained “Buy” after Weiss Ratings upgraded it from “Hold” to “Buy.”
• The company reported quarterly EPS of $0.67 on $24.98 million in revenue, alongside a 15.60% return on equity and 28.14% net margin.
• Greene County Bancorp increased its quarterly dividend to $0.11 per share, equating to an annualized dividend of $0.44 and a 1.2% yield; institutional investors own 13.39% of the stock.

Shares of Greene County Bancorp, Inc. (NASDAQ:GCBC - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $36.27 and last traded at $35.7750, with a volume of 3276 shares trading hands. The stock had previously closed at $35.71.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Greene County Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy".

Greene County Bancorp Stock Performance

The company has a market cap of $608.57 million, a price-to-earnings ratio of 14.84 and a beta of 0.39. The stock's fifty day simple moving average is $34.11 and its two-hundred day simple moving average is $28.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.65 and a current ratio of 0.65.

Greene County Bancorp (NASDAQ:GCBC - Get Free Report) last released 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 $24.98 million during 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 declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.2%. This is a boost from Greene County Bancorp's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, August 14th. Greene County Bancorp's dividend payout ratio (DPR) is presently 18.26%.

Hedge Funds Weigh In On Greene County Bancorp

A number of large investors have recently modified their holdings of the company. Squarepoint Ops LLC purchased a new position in shares of Greene County Bancorp in the 2nd quarter worth about $386,000. California State Teachers Retirement System grew its holdings in shares of Greene County Bancorp by 766.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,292 shares of the real estate investment trust's stock worth $111,000 after purchasing an additional 2,912 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Greene County Bancorp by 211.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,244 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 844 shares during the period. Equitable Holdings Inc. acquired a new stake in Greene County Bancorp during the 2nd quarter worth approximately $232,000. Finally, Bank of America Corp DE acquired a new stake in Greene County Bancorp during the 2nd quarter worth approximately $643,000. 13.39% of the stock is currently owned by hedge funds and other institutional investors.

Greene County Bancorp Company Profile

Greene County Bancorp, Inc is the bank holding company for The Bank of Greene County, a community banking institution headquartered in Catskill, New York. Founded in 1889, the bank provides financial services to individuals, families, businesses and municipal organizations.

The Bank of Greene County offers deposit products such as checking and savings accounts, money market accounts and certificates of deposit. Its lending services include residential mortgages, home equity loans, commercial real estate and business loans, and consumer financing.

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