Greene County Bancorp (NASDAQ:GCBC) Hits New 52-Week High – Still a Buy?

Greene County Bancorp, Inc. (NASDAQ:GCBC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $36.27 and last traded at $35.7750, with a volume of 3276 shares trading hands. 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 report on Monday, August 31st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Greene County Bancorp Stock Up 1.5%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $613.24 million, a PE ratio of 14.95 and a beta of 0.39. The company has a fifty day moving average price of $34.16 and a 200-day moving average price of $28.47.

Greene County Bancorp (NASDAQ:GCBC) last announced its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter. The company had revenue of $46.12 million for the quarter. Greene County Bancorp had a net margin of 28.14% and a return on equity of 15.60%.

Greene County Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a dividend of $0.11 per share. The ex-dividend date was Friday, August 14th. This represents a $0.44 annualized dividend and a dividend yield of 1.2%. 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 Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GCBC. Squarepoint Ops LLC bought a new stake in Greene County Bancorp during the second quarter worth approximately $386,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Greene County Bancorp by 211.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,244 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 844 shares during the last quarter. Equitable Holdings Inc. purchased a new position in shares of Greene County Bancorp in the 2nd quarter worth approximately $232,000. Bank of America Corp DE purchased a new position in shares of Greene County Bancorp in the 2nd quarter worth approximately $643,000. Finally, Hsbc Holdings PLC bought a new position in shares of Greene County Bancorp during the 2nd quarter valued at approximately $1,354,000. Hedge funds and other institutional investors 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.