Greene County Bancorp (NASDAQ:GCBC) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Greene County Bancorp, Inc. (NASDAQ:GCBC) saw an uptick in trading volume on Wednesday. Approximately 28,696 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 25,969 shares. The stock last traded at $35.7290 and had previously closed at $35.82.

Analyst Upgrades and Downgrades

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

Greene County Bancorp Stock Down 2.3%

The stock has a fifty day moving average of $34.77 and a 200-day moving average of $28.47. The firm has a market capitalization of $595.64 million, a P/E ratio of 13.38 and a beta of 0.47.

Greene County Bancorp (NASDAQ:GCBC) last posted its quarterly earnings data on Thursday, October 22nd. The real estate investment trust reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $24.80 million during the quarter.

Greene County Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 13th. Greene County Bancorp’s dividend payout ratio (DPR) is presently 16.79%.

Hedge Funds Weigh In On Greene County Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in Greene County Bancorp in the 2nd quarter valued at $22,428,000. Hsbc Holdings PLC acquired a new stake in shares of Greene County Bancorp during the 2nd quarter worth $1,354,000. Bank of New York Mellon Corp acquired a new stake in shares of Greene County Bancorp during the 2nd quarter worth $959,000. Bank of America Corp DE acquired a new stake in shares of Greene County Bancorp during the 2nd quarter worth $643,000. Finally, Squarepoint Ops LLC bought a new position in shares of Greene County Bancorp in the second quarter worth $386,000. Institutional investors own 13.39% of the company’s stock.

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.