In a recent transaction, Michelle M. Plummer, the Senior Executive Vice President, Chief Financial Officer, and Chief Operating Officer of Greene County Bancorp (NASDAQ:ICBK) Inc. (NASDAQ:GCBC), sold a total of 3,154 shares of the company's common stock. The transaction, which took place on June 13, 2024, amounted to over $95,629 and was executed at a weighted average price of $30.32 per share.
The shares were sold in multiple transactions with prices ranging from $30.21 to $30.51. Following the sale, Plummer's direct holdings in the company's common stock amounted to 118,726 shares. Additionally, it was noted that an indirect holding of 48,167 shares is associated with the company's Employee Stock Ownership Plan (ESOP), indicating a vested interest in the company's performance.
Investors often monitor insider transactions as they can provide insights into the company's financial health and future prospects. The sale by a high-ranking executive such as Plummer may draw particular interest from the market.
Greene County Bancorp Inc., headquartered in Catskill, NY, operates as a savings and loan holding company. The company's activities include traditional banking and financial services, with a focus on serving the needs of individuals and small businesses.
For those interested in the specifics of the transaction, Plummer has committed to providing full information regarding the number of shares sold at each separate price within the range, upon request, to Greene County Bancorp, any security holder, or the staff of the Securities and Exchange Commission.
The transaction was made public through a Form 4 filing with the Securities and Exchange Commission, dated June 17, 2024.
InvestingPro Insights
Amidst the news of insider transactions at Greene County Bancorp Inc. (NASDAQ:GCBC), investors are keen on understanding the company's financial standing and future growth prospects. Greene County Bancorp, with a market capitalization of $508.42 million, has demonstrated a commitment to shareholder returns, as evidenced by its consistent dividend growth. Notably, the company has raised its dividend for 10 consecutive years and has maintained dividend payments for 25 consecutive years, showcasing a reliable income stream for investors.
While the company's revenue for the last twelve months as of Q3 2024 saw a decline of 13.32%, its operating income margin remained robust at 44.25%, reflecting efficient management and a strong ability to convert revenues into operating income. Additionally, the company's P/E ratio stands at 20.8, aligning with industry standards and investor expectations for earnings potential.
For those looking to delve deeper into the financial metrics and strategic insights of Greene County Bancorp, InvestingPro provides a wealth of information, including additional InvestingPro Tips. Currently, there are 6 more tips available, which could further guide investment decisions. Interested parties can access these valuable insights and take advantage of a special offer using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As investors consider the implications of the insider sale by Michelle M. Plummer, they can weigh the company's long-term profitability, evidenced by its positive performance over the last decade, against the recent revenue contraction. Such comprehensive analysis, supported by InvestingPro's detailed metrics and tips, can provide a clearer picture of Greene County Bancorp's investment profile.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.