Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$33.10, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 12x in the Banks industry in the US. Total returns to shareholders of 18% over the past three years. Announcement • Jun 29
Greene County Bancorp, Inc.(NasdaqCM:GCBC) dropped from Russell 2000 Dynamic Index Greene County Bancorp, Inc.(NasdaqCM:GCBC) dropped from Russell 2000 Dynamic Index New Risk • Jun 20
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$288k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. This is currently the only risk that has been identified for the company. Upcoming Dividend • May 11
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 15 May 2026. Payment date: 29 May 2026. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (2.4%). Recent Insider Transactions • Apr 30
Director recently bought US$100k worth of stock On the 28th of April, John Brust bought around 4k shares on-market at roughly US$24.28 per share. This transaction increased John's direct individual holding by 2x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth US$132k. Insiders have collectively bought US$791k more in shares than they have sold in the last 12 months. Declared Dividend • Apr 26
Third quarter dividend of US$0.10 announced Shareholders will receive a dividend of US$0.10. Ex-date: 15th May 2026 Payment date: 29th May 2026 Dividend yield will be 1.7%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 8.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 24
Third quarter 2026 earnings released: EPS: US$0.62 (vs US$0.47 in 3Q 2025) Third quarter 2026 results: EPS: US$0.62 (up from US$0.47 in 3Q 2025). Revenue: US$23.4m (up 23% from 3Q 2025). Net income: US$10.5m (up 31% from 3Q 2025). Profit margin: 45% (up from 42% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Feb 09
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 13 February 2026. Payment date: 27 February 2026. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of American dividend payers (4.1%). Lower than average of industry peers (2.2%). Declared Dividend • Jan 25
Second quarter dividend of US$0.10 announced Shareholders will receive a dividend of US$0.10. Ex-date: 13th February 2026 Payment date: 27th February 2026 Dividend yield will be 1.8%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 8.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 22
Greene County Bancorp, Inc. Announces Quarterly Cash Dividend, Payable on February 27, 2026 Greene County Bancorp, Inc. announced that its Board of Directors has approved a quarterly cash dividend of $0.10 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.40 per share, which is the same rate as the dividend declared during the previous quarter. The cash dividend for the quarter ended December 31, 2025, will be paid to shareholders of record as of February 13, 2026, and is expected to be paid on February 27, 2026. Reported Earnings • Jan 21
Second quarter 2026 earnings released: EPS: US$0.60 (vs US$0.44 in 2Q 2025) Second quarter 2026 results: EPS: US$0.60 (up from US$0.44 in 2Q 2025). Revenue: US$22.0m (up 26% from 2Q 2025). Net income: US$10.3m (up 37% from 2Q 2025). Profit margin: 47% (up from 43% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has fallen by 1% per year. Announcement • Jan 21
Greene County Bancorp, Inc. Reports Net Charge-Offs for the Second Quarter Ended December 31, 2025 Greene County Bancorp, Inc. reported net charge-offs for the second quarter ended December 31, 2025. For the period, the company reported Net charge-offs on loans amounted to $140,000 and $95,000 for the three months ended December 31, 2025 and 2024, respectively, an increase of $45,000. Recent Insider Transactions • Nov 20
Independent Director recently bought US$66k worth of stock On the 18th of November, Tejraj Hada bought around 3k shares on-market at roughly US$21.96 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$699k more in shares than they have sold in the last 12 months. Upcoming Dividend • Nov 07
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 14 November 2025. Payment date: 28 November 2025. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (2.5%). Announcement • Nov 05
Greene County Bancorp Inc. on November 1, 2025 Approves the Appointment of John Brust as Board Director Greene County Bancorp Inc. at its 2025 Annual Meeting of Stockholders, held on November 1, 2025, approved the appointment of John Brust as board director to serve for the three-year term. Recent Insider Transactions • Oct 26
Independent Chairman of the Board recently bought US$59k worth of stock On the 24th of October, Jay Cahalan bought around 3k shares on-market at roughly US$22.67 per share. This transaction amounted to 7.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Jay has been a buyer over the last 12 months, purchasing a net total of US$159k worth in shares. Declared Dividend • Oct 24
First quarter dividend of US$0.10 announced Shareholders will receive a dividend of US$0.10. Ex-date: 14th November 2025 Payment date: 28th November 2025 Dividend yield will be 1.7%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 8.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 22
First quarter 2026 earnings released: EPS: US$0.52 (vs US$0.37 in 1Q 2025) First quarter 2026 results: EPS: US$0.52 (up from US$0.37 in 1Q 2025). Revenue: US$20.2m (up 25% from 1Q 2025). Net income: US$8.87m (up 42% from 1Q 2025). Profit margin: 44% (up from 39% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Sep 22
Greene County Bancorp, Inc., Annual General Meeting, Nov 01, 2025 Greene County Bancorp, Inc., Annual General Meeting, Nov 01, 2025. Location: 4400 route 23, hudson, newyork United States Reported Earnings • Sep 08
Full year 2025 earnings released: EPS: US$1.83 (vs US$1.46 in FY 2024) Full year 2025 results: EPS: US$1.83 (up from US$1.46 in FY 2024). Revenue: US$74.0m (up 16% from FY 2024). Net income: US$31.1m (up 26% from FY 2024). Profit margin: 42% (up from 39% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 2.47% (up from 2.25% in FY 2024). Cost-to-income ratio: 52.3% (down from 57.5% in FY 2024). Non-performing loans: 0.19% (down from 0.25% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 8% per year. Upcoming Dividend • Aug 09
Upcoming dividend of US$0.10 per share Eligible shareholders must have bought the stock before 15 August 2025. Payment date: 29 August 2025. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (2.6%). Reported Earnings • Jul 24
Full year 2025 earnings released: EPS: US$1.83 (vs US$1.46 in FY 2024) Full year 2025 results: EPS: US$1.83 (up from US$1.46 in FY 2024). Revenue: US$74.0m (up 16% from FY 2024). Net income: US$31.1m (up 26% from FY 2024). Profit margin: 42% (up from 39% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 2% per year. Declared Dividend • Jul 18
Third quarter dividend increased to US$0.10 Dividend of US$0.10 is 11% higher than last year. Ex-date: 15th August 2025 Payment date: 29th August 2025 Dividend yield will be 1.5%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 9.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 16
Greene County Bancorp, Inc. Approves Cash Dividend for the Quarter Ended June 30, 2025, Payable on August 29, 2025 Greene County Bancorp, Inc. announced that its Board of Directors has approved a quarterly cash dividend of $0.10 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.40 per share which represents an 11.1% increase from the previous annual cash dividend of $0.36 per share. The cash dividend for the quarter ended June 30, 2025, will be paid to shareholders of record as of August 15, 2025, and is expected to be paid on August 29, 2025. Recent Insider Transactions • May 16
Independent Director recently bought US$161k worth of stock On the 15th of May, Tejraj Hada bought around 7k shares on-market at roughly US$22.95 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$164k. Insiders have collectively bought US$195k more in shares than they have sold in the last 12 months. Upcoming Dividend • May 09
Upcoming dividend of US$0.09 per share Eligible shareholders must have bought the stock before 16 May 2025. Payment date: 30 May 2025. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (2.8%). Reported Earnings • Apr 22
Third quarter 2025 earnings released: EPS: US$0.47 (vs US$0.34 in 3Q 2024) Third quarter 2025 results: EPS: US$0.47 (up from US$0.34 in 3Q 2024). Revenue: US$19.0m (up 23% from 3Q 2024). Net income: US$8.05m (up 37% from 3Q 2024). Profit margin: 42% (up from 38% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year and the company’s share price has also fallen by 5% per year. Declared Dividend • Apr 19
Second quarter dividend of US$0.09 announced Shareholders will receive a dividend of US$0.09. Ex-date: 16th May 2025 Payment date: 30th May 2025 Dividend yield will be 1.7%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 16
Greene County Bancorp, Inc. Approves Cash Dividend for the Quarter Ended March 31, 2025, Payable on May 30, 2025 Greene County Bancorp, Inc. announced that its Board of Directors has approved a quarterly cash dividend of $0.09 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.36 per share, which is the same rate as the dividend declared during the previous quarter. The cash dividend for the quarter ended March 31, 2025 will be paid to shareholders of record as of May 16, 2025, and is expected to be paid on May 30, 2025. Recent Insider Transactions • Mar 21
Independent Director recently bought US$164k worth of stock On the 19th of March, Tejraj Hada bought around 7k shares on-market at roughly US$23.39 per share. This transaction amounted to 80% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold US$232k more in shares than they bought in the last 12 months. Recent Insider Transactions • Mar 04
Independent Chairman of the Board recently bought US$100k worth of stock On the 28th of February, Jay Cahalan bought around 4k shares on-market at roughly US$26.69 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Jay has been a net seller over the last 12 months, reducing personal holdings by US$124k. Upcoming Dividend • Feb 08
Upcoming dividend of US$0.09 per share Eligible shareholders must have bought the stock before 14 February 2025. Payment date: 28 February 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (2.4%). Declared Dividend • Jan 24
Second quarter dividend of US$0.09 announced Shareholders will receive a dividend of US$0.09. Ex-date: 14th February 2025 Payment date: 28th February 2025 Dividend yield will be 1.3%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 7.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 23
Second quarter 2025 earnings released: EPS: US$0.44 (vs US$0.34 in 2Q 2024) Second quarter 2025 results: EPS: US$0.44 (up from US$0.34 in 2Q 2024). Revenue: US$17.5m (up 11% from 2Q 2024). Net income: US$7.49m (up 31% from 2Q 2024). Profit margin: 43% (up from 36% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Jan 22
Greene County Bancorp, Inc. Announces Quarterly Cash Dividend on Common Stock, Payable on February 28, 2025 Greene County Bancorp, Inc. announced that its Board of Directors has approved a quarterly cash dividend of $0.09 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.36 per share, which is the same rate as the dividend declared during the previous quarter. The cash dividend for the quarter ended December 31, 2024 will be paid to shareholders of record as of February 14, 2025, and is expected to be paid on February 28, 2025. Buy Or Sell Opportunity • Nov 18
Now 22% undervalued Over the last 90 days, the stock has risen 4.8% to US$32.30. The fair value is estimated to be US$41.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.5%. Upcoming Dividend • Nov 08
Upcoming dividend of US$0.09 per share Eligible shareholders must have bought the stock before 15 November 2024. Payment date: 29 November 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (2.5%). Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to US$34.97, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 12x in the Banks industry in the US. Total returns to shareholders of 106% over the past three years. Reported Earnings • Oct 23
First quarter 2025 earnings released: EPS: US$0.37 (vs US$0.38 in 1Q 2024) First quarter 2025 results: EPS: US$0.37 (down from US$0.38 in 1Q 2024). Revenue: US$16.2m (flat on 1Q 2024). Net income: US$6.26m (down 3.2% from 1Q 2024). Profit margin: 39% (down from 40% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Announcement • Oct 23
Greene County Bancorp, Inc. Reports Net Charge-Offs for the First Quarter Ended September 30, 2024 Greene County Bancorp, Inc. reported net charge-offs for the first quarter ended September 30, 2024. For the quarter, the company reported net charge-offs on loans amounted to $114,000 for the three months ended September 30, 2024, compared with $93,000 for the three months ended September 30, 2023, an increase of $21,000. Declared Dividend • Oct 18
Fourth quarter dividend of US$0.09 announced Shareholders will receive a dividend of US$0.09. Ex-date: 15th November 2024 Payment date: 29th November 2024 Dividend yield will be 1.1%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 7.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Oct 16
Greene County Bancorp, Inc. Announces Quarterly Cash Dividend for the Quarter Ended September 30, 2024, Payable November 29, 2024 Greene County Bancorp, Inc. announced that its Board of Directors has approved a quarterly cash dividend of $0.09 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.36 per share, which is the same rate as the dividend declared during the previous quarter. The cash dividend for the quarter ended September 30, 2024 will be paid to shareholders of record as of November 15, 2024, and is expected to be paid on November 29, 2024. Reported Earnings • Sep 08
Full year 2024 earnings released: EPS: US$1.46 (vs US$1.81 in FY 2023) Full year 2024 results: EPS: US$1.46 (down from US$1.81 in FY 2023). Revenue: US$64.1m (down 14% from FY 2023). Net income: US$24.8m (down 20% from FY 2023). Profit margin: 39% (down from 41% in FY 2023). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 2.25% (down from 2.66% in FY 2023). Cost-to-income ratio: 57.5% (up from 52.6% in FY 2023). Non-performing loans: 0.25% (down from 0.39% in FY 2023). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Sep 03
Now 24% undervalued Over the last 90 days, the stock has risen 4.4% to US$32.22. The fair value is estimated to be US$42.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years, while earnings per share has been flat. Upcoming Dividend • Aug 08
Upcoming dividend of US$0.09 per share Eligible shareholders must have bought the stock before 15 August 2024. Payment date: 30 August 2024. Trailing yield: 1.1%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (3.1%). Buy Or Sell Opportunity • Aug 01
Now 20% undervalued Over the last 90 days, the stock has risen 9.1% to US$33.88. The fair value is estimated to be US$42.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years, while earnings per share has been flat. Reported Earnings • Jul 24
Full year 2024 earnings released: EPS: US$1.46 (vs US$1.81 in FY 2023) Full year 2024 results: EPS: US$1.46 (down from US$1.81 in FY 2023). Revenue: US$64.1m (down 14% from FY 2023). Net income: US$24.8m (down 20% from FY 2023). Profit margin: 39% (down from 41% in FY 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Declared Dividend • Jul 19
Third quarter dividend increased to US$0.09 Dividend of US$0.09 is 13% higher than last year. Ex-date: 15th August 2024 Payment date: 30th August 2024 Dividend yield will be 1.0%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 7.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 17
Greene County Bancorp, Inc. Approves Cash Dividend for the Quarter Ended June 30, 2024, Payable on August 30, 2024 Greene County Bancorp, Inc. announced that its Board of Directors has approved a quarterly cash dividend of $0.09 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.36 per share which represents a 12.5% increase from the previous annual cash dividend of $0.32 per share. The cash dividend for the quarter ended June 30, 2024 will be paid to shareholders of record as of August 15, 2024, and is expected to be paid on August 30, 2024. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$35.00, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 11x in the Banks industry in the US. Total returns to shareholders of 147% over the past three years. Buy Or Sell Opportunity • Jul 02
Now 16% undervalued Over the last 90 days, the stock has risen 24% to US$32.36. The fair value is estimated to be US$38.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 4.9%. Buy Or Sell Opportunity • Jun 25
Now 21% undervalued Over the last 90 days, the stock has risen 6.8% to US$30.56. The fair value is estimated to be US$38.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 4.9%. Recent Insider Transactions Derivative • Jun 20
Senior EVP notifies of intention to sell stock Michelle Plummer intends to sell 9k shares in the next 90 days after lodging an Intent To Sell Form on the 18th of June. If the sale is conducted around the recent share price of US$30.55, it would amount to US$274k. Since September 2023, Michelle's direct individual holding has decreased from 168.79k shares to 166.89k. Company insiders have collectively sold US$444k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Jun 18
Senior EVP recently sold US$96k worth of stock On the 13th of June, Michelle Plummer sold around 3k shares on-market at roughly US$30.32 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$223k. This was Michelle's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Jun 16
Senior EVP notifies of intention to sell stock Michelle Plummer intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 13th of June. If the sale is conducted around the recent share price of US$30.32, it would amount to US$96k. Since September 2023, Michelle has owned 168.79k shares directly. Company insiders have collectively sold US$348k more than they bought, via options and on-market transactions in the last 12 months. Buy Or Sell Opportunity • Jun 13
Now 22% undervalued Over the last 90 days, the stock has risen 13% to US$30.15. The fair value is estimated to be US$38.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 4.9%. Buy Or Sell Opportunity • May 29
Now 20% undervalued Over the last 90 days, the stock has risen 7.9% to US$30.81. The fair value is estimated to be US$38.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 4.9%. Recent Insider Transactions • May 19
Independent Chairman of the Board recently sold US$223k worth of stock On the 15th of May, Jay Cahalan sold around 7k shares on-market at roughly US$31.65 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Jay's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • May 17
Independent Chairman of the Board notifies of intention to sell stock Jay Cahalan intends to sell 7k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of May. If the sale is conducted around the recent share price of US$31.32, it would amount to US$221k. Since September 2023, Jay has owned 34.44k shares directly. Company insiders have collectively sold US$409k more than they bought, via options and on-market transactions in the last 12 months. Buy Or Sell Opportunity • May 09
Now 23% undervalued Over the last 90 days, the stock has risen 7.1% to US$29.86. The fair value is estimated to be US$38.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Earnings per share has grown by 4.9%. Upcoming Dividend • May 08
Upcoming dividend of US$0.08 per share Eligible shareholders must have bought the stock before 14 May 2024. Payment date: 30 May 2024. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (3.0%). Reported Earnings • Apr 23
Third quarter 2024 earnings released: EPS: US$0.34 (vs US$0.47 in 3Q 2023) Third quarter 2024 results: EPS: US$0.34 (down from US$0.47 in 3Q 2023). Revenue: US$15.4m (down 20% from 3Q 2023). Net income: US$5.86m (down 28% from 3Q 2023). Profit margin: 38% (down from 42% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Apr 19
Second quarter dividend of US$0.08 announced Shareholders will receive a dividend of US$0.08. Ex-date: 14th May 2024 Payment date: 30th May 2024 Dividend yield will be 1.1%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 18
Greene County Bancorp, Inc. Approves Cash Dividend for the Quarter Ended March 31, 2024, Payable on May 30, 2024 Greene County Bancorp, Inc. announced that its Board of Directors has approved a quarterly cash dividend of $0.08 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.32 per share which is the same rate as the dividend declared during the previous quarter. The cash dividend for the quarter ended March 31, 2024 will be paid to shareholders of record as of May 15, 2024, and is expected to be paid on May 30, 2024. New Risk • Mar 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to US$33.48, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 9x in the Banks industry in the US. Total returns to shareholders of 189% over the past three years. Buy Or Sell Opportunity • Feb 14
Now 27% undervalued Over the last 90 days, the stock has risen 15% to US$28.54. The fair value is estimated to be US$38.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 10%. Upcoming Dividend • Feb 07
Upcoming dividend of US$0.08 per share at 1.3% yield Eligible shareholders must have bought the stock before 14 February 2024. Payment date: 28 February 2024. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (3.3%). Buy Or Sell Opportunity • Jan 24
Now 20% undervalued Over the last 90 days, the stock has risen 21% to US$28.57. The fair value is estimated to be US$35.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years. Earnings per share has grown by 10%. Reported Earnings • Jan 23
Second quarter 2024 earnings released: EPS: US$0.34 (vs US$0.42 in 2Q 2023) Second quarter 2024 results: EPS: US$0.34 (down from US$0.42 in 2Q 2023). Revenue: US$15.7m (down 16% from 2Q 2023). Net income: US$5.71m (down 21% from 2Q 2023). Profit margin: 36% (down from 39% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jan 19
First quarter dividend of US$0.08 announced Shareholders will receive a dividend of US$0.08. Ex-date: 14th February 2024 Payment date: 28th February 2024 Dividend yield will be 1.1%, which is lower than the industry average of 3.3%. Sustainability & Growth The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jan 17
Greene County Bancorp, Inc. Announces Cash Dividend, Payable on February 28, 2024 Greene County Bancorp, Inc. announced that its Board of Directors has approved a quarterly cash dividend of $0.08 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.32 per share which is the same rate as the dividend declared during the previous quarter. The cash dividend for the quarter ended December 31, 2023 will be paid to shareholders of record as of February 15, 2024, and is expected to be paid on February 28, 2024. Buying Opportunity • Dec 29
Now 22% undervalued Over the last 90 days, the stock is up 17%. The fair value is estimated to be US$35.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 15%. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$29.02, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 9x in the Banks industry in the US. Total returns to shareholders of 133% over the past three years. Reported Earnings • Oct 25
First quarter 2024 earnings released: EPS: US$0.38 (vs US$0.53 in 1Q 2023) First quarter 2024 results: EPS: US$0.38 (down from US$0.53 in 1Q 2023). Revenue: US$16.3m (down 16% from 1Q 2023). Net income: US$6.47m (down 28% from 1Q 2023). Profit margin: 40% (down from 47% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 19
Greene County Bancorp, Inc. Announces Cash Dividend, Payable on November 30, 2023 Greene County Bancorp, Inc. announced a quarterly cash dividend of $0.08 per share on the Company’s common stock. The dividend reflects an annual cash dividend rate of $0.32 per share which is the same rate as the dividend declared during the previous quarter. The cash dividend for the quarter ended September 30, 2023 will be paid to shareholders of record as of November 15, 2023, and is expected to be paid on November 30, 2023. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$23.78, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 8x in the Banks industry in the US. Total returns to shareholders of 122% over the past three years. Buying Opportunity • Sep 15
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 13%. The fair value is estimated to be US$34.49, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 18%. Reported Earnings • Sep 12
Full year 2023 earnings released: EPS: US$1.81 (vs US$1.64 in FY 2022) Full year 2023 results: EPS: US$1.81 (up from US$1.64 in FY 2022). Revenue: US$74.4m (up 11% from FY 2022). Net income: US$30.8m (up 10.0% from FY 2022). Profit margin: 41% (in line with FY 2022). Net interest margin (NIM): 2.66% (down from 2.69% in FY 2022). Cost-to-income ratio: 52.6% (up from 48.4% in FY 2022). Non-performing loans: 0.39% (down from 0.50% in FY 2022). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Aug 08
President recently sold US$127k worth of stock On the 4th of August, Donald Gibson sold around 4k shares on-market at roughly US$34.62 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$284k. Donald has been a net seller over the last 12 months, reducing personal holdings by US$130k. Upcoming Dividend • Aug 04
Upcoming dividend of US$0.08 per share at 0.9% yield Eligible shareholders must have bought the stock before 11 August 2023. Payment date: 31 August 2023. Trailing yield: 0.9%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (3.4%). Reported Earnings • Jul 25
Full year 2023 earnings released: EPS: US$1.81 (vs US$1.64 in FY 2022) Full year 2023 results: EPS: US$1.81 (up from US$1.64 in FY 2022). Revenue: US$74.4m (up 11% from FY 2022). Net income: US$30.8m (up 10.0% from FY 2022). Profit margin: 41% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth.