StockNews.com Upgrades Greene County Bancorp (NASDAQ:GCBC) to “Hold”

Greene County Bancorp (NASDAQ:GCBC) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Greene County Bancorp Price Performance

Shares of GCBC traded down $0.62 during trading hours on Thursday, reaching $21.24. The company had a trading volume of 31,174 shares, compared to its average volume of 26,968. The company has a market capitalization of $361.65 million, a price-to-earnings ratio of 13.70 and a beta of 0.36. Greene County Bancorp has a 12-month low of $20.00 and a 12-month high of $37.25. The firm has a 50 day simple moving average of $24.83 and a 200-day simple moving average of $27.77. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.03.

Greene County Bancorp (NASDAQ:GCBC) last posted its quarterly earnings results on Wednesday, January 22nd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter. Greene County Bancorp had a net margin of 21.02% and a return on equity of 12.55%. During the same quarter in the prior year, the business posted $0.34 earnings per share.

Insider Activity at Greene County Bancorp

In other news, Director Jay P. Cahalan bought 1,944 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $26.45 per share, for a total transaction of $51,418.80. Following the completion of the transaction, the director now owns 29,324 shares in the company, valued at $775,619.80. The trade was a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tejraj S. Hada purchased 7,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was acquired at an average price of $23.39 per share, with a total value of $163,730.00. Following the completion of the acquisition, the director now directly owns 15,706 shares in the company, valued at $367,363.34. The trade was a 80.40 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 9,784 shares of company stock valued at $237,409. 5.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Greene County Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in GCBC. LPL Financial LLC lifted its position in Greene County Bancorp by 417.6% during the fourth quarter. LPL Financial LLC now owns 33,718 shares of the real estate investment trust’s stock worth $935,000 after buying an additional 27,204 shares during the period. Millennium Management LLC purchased a new position in shares of Greene County Bancorp during the 4th quarter worth about $403,000. JPMorgan Chase & Co. boosted its position in shares of Greene County Bancorp by 127.2% in the fourth quarter. JPMorgan Chase & Co. now owns 24,859 shares of the real estate investment trust’s stock worth $689,000 after acquiring an additional 13,918 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new stake in shares of Greene County Bancorp in the fourth quarter worth approximately $365,000. Finally, Marshall Wace LLP purchased a new stake in Greene County Bancorp in the fourth quarter valued at approximately $286,000. Hedge funds and other institutional investors own 13.39% of the company’s stock.

Greene County Bancorp Company Profile

Greene County Bancorp, Inc operates as a holding company for The Bank of Greene County that provides various financial services in the United States. The company's deposit products include savings, NOW accounts, money market accounts, certificates of deposit, non-interest bearing checking accounts, and individual retirement accounts.