Hada Tejraj S, a director at Greene County Bancorp (NASDAQ:ICBK) Inc. (NASDAQ:GCBC), recently acquired a significant number of shares in the company. According to a filing with the Securities and Exchange Commission, Tejraj purchased a total of 7,000 shares of common stock on March 19, 2025. The purchases were made at prices ranging from $23.25 to $23.50 per share, amounting to a total transaction value of approximately $163,760. The timing appears strategic, as the stock currently trades near its 52-week low of $23.11, having declined about 23% over the past six months.
Following these transactions, Tejraj’s direct ownership in Greene County Bancorp increased to 15,705.56 shares. These acquisitions reflect a notable increase in his stake in the company, signaling confidence in the bank’s future prospects. Investors often closely watch such insider transactions for potential insights into the company’s outlook. The $403 million market cap bank has maintained dividend payments for 26 consecutive years, with a current yield of 1.5%. InvestingPro subscribers can access additional insights, including 8 more key investment tips and detailed insider trading analysis.
In other recent news, Greene County Bancorp, Inc. announced that it will maintain its quarterly cash dividend at $0.09 per share, consistent with the previous quarter. This decision results in an annual dividend rate of $0.36 per share. Shareholders who are on record by February 14, 2025, will receive their dividend payment on February 28, 2025. Notably, the company’s majority shareholder, Greene County Bancorp, MHC, has chosen to forgo its right to this dividend. The Federal Reserve Bank of Philadelphia has approved the MHC’s decision to waive dividends up to $0.48 per share for the four quarters ending September 30, 2025. This development reflects Greene County Bancorp’s ongoing commitment to returning value to its shareholders, demonstrating financial consistency amid varying economic conditions. Investors should be aware that the dividend distribution will proceed as planned, with the MHC’s decision not impacting the payout to other shareholders.
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