Greene County Bancorp, Inc. (NASDAQ:GCBC) Sees Significant Decrease in Short Interest

Greene County Bancorp, Inc. (NASDAQ:GCBC) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 102,327 shares, a decline of 46.5% from the September 15th total of 191,241 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 54,222 shares, the short-interest ratio is currently 1.9 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Greene County Bancorp

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new position in shares of Greene County Bancorp in the 2nd quarter valued at $959,000. BlackRock Inc. acquired a new position in shares of Greene County Bancorp during the 2nd quarter valued at $22,428,000. Hsbc Holdings PLC purchased a new stake in Greene County Bancorp during the 2nd quarter worth $1,354,000. Bank of America Corp DE purchased a new stake in Greene County Bancorp during the 2nd quarter worth $643,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position 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 purchasing an additional 844 shares during the period. Institutional investors and hedge funds own 13.39% of the company’s stock.

Greene County Bancorp Trading Down 0.4%

NASDAQ:GCBC traded down $0.14 during trading hours on Wednesday, reaching $34.05. 1,146 shares of the company were exchanged, compared to its average volume of 26,294. 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 $579.62 million, a price-to-earnings ratio of 14.13 and a beta of 0.47. The stock has a 50 day simple moving average of $34.75 and a 200 day simple moving average of $30.18. Greene County Bancorp has a 52-week low of $21.25 and a 52-week high of $36.33.

Greene County Bancorp (NASDAQ:GCBC) last posted its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter. The firm had revenue of $46.12 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 firm 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 1.3%. This is a positive change 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 is presently 18.26%.

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, small businesses and commercial customers.

The Bank of Greene County offers deposit products, residential and commercial real estate lending, consumer loans, business loans, cash management and other traditional banking services. Its services are delivered through branch locations and digital banking channels, with a focus on relationship-based banking and local communities.

The institution traces its history to 1889 and primarily serves customers in the Hudson Valley and surrounding areas of upstate New York, including Greene, Columbia and Albany counties.