In a recent transaction, Michelle M. Plummer, the Chief Financial Officer, Chief Operating Officer, and Senior Executive Vice President of Greene County Bancorp (NASDAQ:ICBK) Inc. (NASDAQ:GCBC), sold shares of the company's stock. The sale, which occurred on June 17 and 18, 2024, involved a total of 9,166 shares at prices ranging from $30.25 to $30.68, resulting in proceeds exceeding $280,000.
The transactions began on June 17, when Plummer sold 200 shares at a price of $30.40 per share. The following day, an additional 8,966 shares were sold at a weighted average price of $30.555. The sales were conducted in multiple transactions at prices within the stated range, as detailed in a footnote to the filing.
After the sales, Plummer continued to hold a significant number of shares in the company. The direct holdings amounted to 109,560 shares following the transactions. Additionally, Plummer has indirect ownership of 48,167 shares held by the Employee Stock Ownership Plan (ESOP).
Investors often keep a close eye on insider sales as they may provide insights into an executive's perspective on the company's current valuation and future prospects. However, it is important to note that insider transactions can be motivated by a variety of factors and may not necessarily signal changes in company fundamentals.
Greene County Bancorp, headquartered in Catskill, New York, operates as a savings and loan holding company. The company's shares are publicly traded on the NASDAQ under the ticker symbol GCBC. Michelle M. Plummer's recent transactions were filed with the Securities and Exchange Commission and are publicly available for review.
InvestingPro Insights
Following the recent insider transactions by Michelle M. Plummer at Greene County Bancorp Inc. (NASDAQ:GCBC), investors might be curious about the company's financial health and performance metrics. According to InvestingPro data, Greene County Bancorp has a market capitalization of $527.83 million and a Price-to-Earnings (P/E) ratio of 21.42, which aligns closely with the adjusted P/E ratio for the last twelve months as of Q3 2024, standing at 21.43.
Despite a challenging revenue environment, with a decline of 13.32% in the last twelve months as of Q3 2024, the company has demonstrated resilience in other financial aspects. InvestingPro Tips reveal that Greene County Bancorp has not only raised its dividend for 10 consecutive years but has also maintained dividend payments for 25 consecutive years. This track record could be seen as a sign of the company's commitment to returning value to shareholders. Additionally, the company has been profitable over the last twelve months and has experienced a strong 15.1% price total return over the last three months, indicative of robust short-term performance.
For investors interested in deeper insights and additional InvestingPro Tips, such as the company's performance over the last decade and five years, a visit to https://www.investing.com/pro/GCBC is recommended. There are 6 more InvestingPro Tips available, which could provide a more comprehensive understanding of Greene County Bancorp's long-term performance. To access these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a valuable opportunity for those seeking informed investment decisions.
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