StockNews.com Downgrades Greene County Bancorp (NASDAQ:GCBC) to Sell

StockNews.com lowered shares of Greene County Bancorp (NASDAQ:GCBC – Get Rating) from a hold rating to a sell rating in a research note published on Tuesday morning.

Greene County Bancorp Stock Up 10.6 %

Shares of Greene County Bancorp stock opened at $25.11 on Tuesday. The company has a market capitalization of $427.62 million, a price-to-earnings ratio of 13.68 and a beta of 0.25. Greene County Bancorp has a 12-month low of $17.50 and a 12-month high of $39.90. The firm’s 50-day moving average price is $23.66 and its two-hundred day moving average price is $29.16.

Greene County Bancorp (NASDAQ:GCBC – Get Rating) last posted its quarterly earnings results on Thursday, April 20th. The real estate investment trust reported $0.48 earnings per share for the quarter. Greene County Bancorp had a net margin of 34.62% and a return on equity of 18.75%. The company had revenue of $18.29 million for the quarter.

Greene County Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Monday, May 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, May 12th. This represents a $0.28 annualized dividend and a dividend yield of 1.12%. Greene County Bancorp’s dividend payout ratio is currently 15.26%.

Insider Activity

In other Greene County Bancorp news, Director Tejraj S. Hada purchased 2,000 shares of Greene County Bancorp stock in a transaction that occurred on Monday, May 8th. The stock was acquired at an average price of $18.20 per share, with a total value of $36,400.00. Following the transaction, the director now owns 5,546 shares in the company, valued at approximately $100,937.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jay P. Cahalan purchased 1,440 shares of Greene County Bancorp stock in a transaction that occurred on Tuesday, February 28th. The stock was bought at an average price of $28.48 per share, for a total transaction of $41,004.00. Following the completion of the transaction, the director now owns 27,380 shares in the company, valued at $779,645.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tejraj S. Hada purchased 2,000 shares of Greene County Bancorp stock in a transaction that occurred on Monday, May 8th. The shares were bought at an average price of $18.20 per share, with a total value of $36,400.00. Following the transaction, the director now owns 5,546 shares of the company’s stock, valued at approximately $100,937.20. The disclosure for this purchase can be found here. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Greene County Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its holdings in shares of Greene County Bancorp by 103.7% in the first quarter. Amalgamated Bank now owns 1,108 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 564 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Greene County Bancorp in the fourth quarter worth about $27,000. Dorsey Wright & Associates purchased a new stake in shares of Greene County Bancorp in the fourth quarter worth about $28,000. Bank of America Corp DE lifted its holdings in shares of Greene County Bancorp by 135.3% in the first quarter. Bank of America Corp DE now owns 680 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 391 shares in the last quarter. Finally, AllSquare Wealth Management LLC lifted its holdings in shares of Greene County Bancorp by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 1,310 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 655 shares in the last quarter. 12.98% of the stock is owned by hedge funds and other institutional investors.

Greene County Bancorp Company Profile

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Greene County Bancorp, Inc operates as a bank holding company for Bank of Greene County. Its services include personal banking, checking accounts, savings accounts, loans, commercial lending, business accounts, municipal banking services and investment services. The company was founded in December 1998 and is headquartered in Catskill, NY.