Greene County Bancorp, Inc. (NASDAQ:GCBC) Stock Short Interest Drops 46.5%

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

Institutional Trading of Greene County Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in Greene County Bancorp during the 2nd quarter worth $386,000. Northwestern Mutual Wealth Management Co. boosted its stake in Greene County Bancorp by 211.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,244 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 844 shares in the last quarter. Equitable Holdings Inc. acquired a new position in Greene County Bancorp in the second quarter valued at $232,000. Bank of America Corp DE acquired a new position in Greene County Bancorp in the second quarter valued at $643,000. Finally, Hsbc Holdings PLC acquired a new position in Greene County Bancorp in the second quarter valued at $1,354,000. Institutional investors and hedge funds own 13.39% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Greene County Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Greene County Bancorp Stock Up 0.7%

Shares of NASDAQ:GCBC traded up $0.23 on Friday, hitting $34.48. 14,252 shares of the company’s stock were exchanged, compared to its average volume of 26,121. Greene County Bancorp has a 1-year low of $21.38 and a 1-year high of $36.33. The company has a market capitalization of $587.02 million, a PE ratio of 14.31 and a beta of 0.47. 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’s 50-day moving average is $34.73 and its 200 day moving average is $30.34.

Greene County Bancorp (NASDAQ:GCBC) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported $0.67 earnings per share for the quarter. The business had revenue of $46.12 million for 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 business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were paid a $0.11 dividend. This is an increase from Greene County Bancorp’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 14th. Greene County Bancorp’s payout ratio is currently 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.