Nick Barzee, the Senior Vice President and Chief Financial Officer of Greene County Bancorp (NASDAQ:ICBK) Inc. (NASDAQ:GCBC), has recently increased his stake in the company. According to a recent filing, Barzee purchased 892 shares of common stock at an average price of $28.57 per share, totaling approximately $25,488. This acquisition was made through his 401(k) plan. Following this transaction, Barzee now holds a total of 900 shares directly through his 401(k) and an additional 186 shares through an Employee Stock Ownership Plan (ESOP).
InvestingPro Insights
Nick Barzee's recent purchase of Greene County Bancorp Inc. (NASDAQ:GCBC) shares aligns with several positive indicators highlighted by InvestingPro. According to InvestingPro Tips, GCBC has raised its dividend for 11 consecutive years and has maintained dividend payments for 25 consecutive years, demonstrating a strong commitment to shareholder returns. This consistent dividend growth could be a factor in Barzee's decision to increase his stake through his 401(k) plan.
Despite the company's strong dividend history, InvestingPro data shows that GCBC's stock price has fallen significantly over the last three months, with a 3-month price total return of -20.68%. This recent dip might have presented an attractive entry point for Barzee, especially considering the company's profitability over the last twelve months and its high return over the last decade, as noted in the InvestingPro Tips.
The company's current P/E ratio of 19.82 and dividend yield of 1.25% provide additional context to Barzee's investment decision. These metrics, combined with GCBC's market cap of $482.54 million, suggest that the CFO sees potential value in the company's stock at current levels.
For investors seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for GCBC, providing a deeper understanding of the company's financial health and market position.
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