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

Greene County Bancorp, Inc. (NASDAQ:GCBC) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $36.27 and last traded at $35.7750, with a volume of 3276 shares traded. The stock had previously closed at $35.71.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Greene County Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

Greene County Bancorp Stock Performance

The firm has a market capitalization of $608.57 million, a PE ratio of 14.84 and a beta of 0.39. 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 stock has a 50-day moving average price of $34.11 and a 200-day moving average price of $28.28.

Greene County Bancorp (NASDAQ:GCBC) last issued its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.67 EPS 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 $24.98 million during the quarter.

Greene County Bancorp Increases Dividend

The firm also recently announced 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 dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from Greene County Bancorp’s previous quarterly dividend of $0.10. Greene County Bancorp’s dividend payout ratio is currently 18.26%.

Institutional Trading of Greene County Bancorp

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Greene County Bancorp in the second quarter worth $22,428,000. Bank of New York Mellon Corp bought a new position in Greene County Bancorp during the 2nd quarter valued at $959,000. Hsbc Holdings PLC bought a new position in Greene County Bancorp during the 2nd quarter valued at $1,354,000. Northwestern Mutual Wealth Management Co. grew its holdings in 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 acquiring an additional 844 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Greene County Bancorp by 5.2% during the 1st quarter. Bank of America Corp DE now owns 21,302 shares of the real estate investment trust’s stock worth $477,000 after acquiring an additional 1,046 shares in the last quarter. Institutional investors and hedge funds own 13.39% of the company’s stock.

About Greene County Bancorp

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.