Greene County Bancorp (NASDAQ:GCBC) Share Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Greene County Bancorp shares crossed above their 50-day moving average, reaching $35.85 before last trading at $35.20, compared with a 50-day average of $34.43.
• Weiss Ratings upgraded the stock from “hold (c+)” to “buy (b-),” giving GCBC a consensus “Buy” rating based on MarketBeat data.
• The company increased its quarterly dividend to $0.11 per share, or $0.44 annualized, producing a 1.2% yield; institutional investors own 13.39% of the stock.

Greene County Bancorp, Inc. (NASDAQ:GCBC - Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $34.43 and traded as high as $35.85. Greene County Bancorp shares last traded at $35.20, with a volume of 73,910 shares traded.

Analyst Ratings Changes

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

Greene County Bancorp Price Performance

The stock has a market cap of $599.28 million, a price-to-earnings ratio of 14.61 and a beta of 0.39. 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's 50-day moving average is $34.43 and its 200-day moving average is $28.83.

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 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 company had revenue of $46.12 million for the quarter.

Greene County Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Greene County Bancorp's previous quarterly dividend of $0.10. The ex-dividend date was Friday, August 14th. Greene County Bancorp's dividend payout ratio (DPR) is currently 18.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GCBC. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Greene County Bancorp by 211.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,244 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 844 shares in the last quarter. Equitable Holdings Inc. acquired a new stake in shares of Greene County Bancorp during the 2nd quarter worth about $232,000. Deutsche Bank AG acquired a new stake in shares of Greene County Bancorp during the 2nd quarter worth about $233,000. GSA Capital Partners LLP bought a new position in Greene County Bancorp during the 2nd quarter valued at about $297,000. Finally, Squarepoint Ops LLC bought a new position in Greene County Bancorp during the 2nd quarter valued at about $386,000. 13.39% of the stock is owned by 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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