Greene County Bancorp (NASDAQ:GCBC) Shares Up 7.7% After Dividend Announcement

Key Points

• Greene County Bancorp shares rose 7.7% after the company announced a quarterly dividend of $0.11 per share, equivalent to $0.44 annually and a 1.2% yield.
• Weiss Ratings upgraded the stock from “buy (b-)” to “buy (b),” while the company reported quarterly earnings of $0.73 per share, a 28.14% net margin, and a 15.60% return on equity.
• Institutional investors own 13.39% of the company, with BlackRock having established a new stake valued at approximately $22.4 million.

Shares of Greene County Bancorp, Inc. (NASDAQ:GCBC - Get Free Report) were up 7.7% during trading on Thursday after the company announced a dividend. The company traded as high as $35.50 and last traded at $37.2210. Approximately 1,933 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 25,993 shares. The stock had previously closed at $34.57.The newly announced dividend which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, November 13th. Greene County Bancorp's dividend payout ratio (DPR) is 18.26%.

Analyst Ratings Changes

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 research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, Greene County Bancorp presently has an average rating of "Buy".

Greene County Bancorp Trading Up 6.6%

The company has a debt-to-equity ratio of 0.02, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market cap of $627.37 million, a PE ratio of 15.29 and a beta of 0.47. The company's 50 day moving average price is $34.70 and its 200 day moving average price is $30.68.

Greene County Bancorp (NASDAQ:GCBC - Get Free Report) last announced its 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 net margin of 28.14% and a return on equity of 15.60%.

Institutional Trading of Greene County Bancorp

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Greene County Bancorp in the second quarter valued at $22,428,000. Dimensional Fund Advisors LP boosted its holdings in Greene County Bancorp by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 92,607 shares of the real estate investment trust's stock valued at $2,076,000 after purchasing an additional 1,006 shares during the period. Renaissance Technologies LLC grew its stake in Greene County Bancorp by 2.6% during the 1st quarter. Renaissance Technologies LLC now owns 51,000 shares of the real estate investment trust's stock worth $1,143,000 after purchasing an additional 1,300 shares in the last quarter. Hsbc Holdings PLC grew its stake in Greene County Bancorp by 1.2% during the 1st quarter. Hsbc Holdings PLC now owns 42,421 shares of the real estate investment trust's stock worth $968,000 after purchasing an additional 521 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Greene County Bancorp during the 2nd quarter worth $959,000. Hedge funds and other institutional investors own 13.39% of the company's stock.

About Greene County Bancorp

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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