GCBC

Greene County Bancorp($GCBC) Executives Keep Buying Shares - Why $380,000 in Insider Purchases Amid 40% Stock Decline Deserves Attention

04/29/2025 10:16

Nick Barzee, Senior Vice President of Greene County Bancorp ($GCBC), purchased 1,500 shares at $21.50 per share on April 25, 2025. This $32,250 transaction reinforces a consistent buying pattern among the company's executives and board members over recent months. This purchase comes as $GCBC's stock has declined approximately 40% from its July 2024 high of around $36. Notably, Barzee has made multiple purchases beyond this latest transaction, acquiring 892 shares in October 2024 and 840 shares in February 2025. His total investment over the past six months amounts to approximately $80,000. Barzee is not alone in his confidence. Board member Tejraj Hada purchased 7,000 shares (worth about $163,000) on March 19, 2025, just four months after acquiring 2,000 shares in early November 2024. Fellow director Jay Cahalan also bought a total of 3,744 shares (approximately $100,000) over two days in late February 2025. This insider buying activity is particularly noteworthy when paired with Greene County Bancorp's strong financial performance. The company reported net interest income of $16.21 million and net income of $8.05 million for Q1 2025. Particularly impressive are the quarterly revenue growth rate of 23.1% year-over-year and earnings growth of 37.4%. This small regional bank, with a market capitalization of approximately $372 million, boasts a remarkable profit margin of 41.11% and a return on equity (ROE) of 13.33%. With earnings per share (EPS) of $1.67, the current stock price represents a P/E ratio of about 13, offering an attractive valuation compared to other financial sector peers. This strong signal of insider confidence comes amid significant volatility in U.S. markets. Early April 2025 saw major declines in the S&P 500 due to escalating U.S.-China trade tensions and tariff policies announced by President Trump, putting pressure on many regional banks. Barzee has built a substantial career at Greene County Bancorp, developing deep expertise in regional banking operations and financial management. His consistent stock purchases reflect strong conviction in the company's long-term value and growth potential. It's worth noting that while then-CFO Michelle Plummer sold approximately 12,320 shares (worth about $375,000) in June 2024, all insider transactions since then have been purchases. This represents a powerful vote of confidence from leadership as the stock declined from around $30 to the $21 range. Greene County Bancorp is a New York-based regional bank providing retail and commercial banking services, including deposits, loans, and investment brokerage services. The bank's strong capital foundation and low leverage (debt ratio of approximately 3.14%) provide stability even in uncertain economic environments. Despite recent price declines, $GCBC has significantly outperformed the S&P 500 over the long term, delivering a 128.28% return over five years. This performance, combined with recent insider buying activity, suggests the stock may currently be undervalued. Investors should consider these strong insider buying signals alongside the company's solid financial performance, particularly as economic uncertainties persist. The consistent and substantial purchases by company insiders while the stock is under pressure can be interpreted as a significant vote of confidence.

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