Greene County Bancorp (NASDAQ:GCBC) Stock Jumps 7.7% After Dividend Announcement

Greene County Bancorp, Inc. (NASDAQ:GCBC) traded up 7.7% during mid-day trading on Thursday after the company announced a dividend. The stock traded as high as $35.50 and last traded at $37.2210. 1,933 shares traded hands during mid-day trading, a decline of 93% from the average daily 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 paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, November 13th. Greene County Bancorp’s dividend payout ratio is presently 18.26%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Greene County Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, Greene County Bancorp has a consensus rating of “Buy”.

Greene County Bancorp Price Performance

The stock’s fifty day moving average price is $34.70 and its two-hundred day moving average price is $30.68. The firm has a market capitalization of $627.37 million, a price-to-earnings ratio of 15.29 and a beta of 0.47. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.02.

Greene County Bancorp (NASDAQ:GCBC) last released its quarterly earnings data on Thursday, October 22nd. The real estate investment trust reported $0.73 earnings per share (EPS) 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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Greene County Bancorp during the 2nd quarter worth about $22,428,000. Dimensional Fund Advisors LP boosted its position in shares of Greene County Bancorp by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 92,607 shares of the real estate investment trust’s stock worth $2,076,000 after acquiring an additional 1,006 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 acquiring an additional 1,300 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Greene County Bancorp by 1.2% in the 1st quarter. Hsbc Holdings PLC now owns 42,421 shares of the real estate investment trust’s stock valued at $968,000 after acquiring an additional 521 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Greene County Bancorp in the 2nd quarter valued at about $959,000. 13.39% of the stock is currently owned by institutional investors and hedge funds.

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.