Insider Selling: Orange County Bancorp (NASDAQ:OBT) SVP Sells $58,065.00 in Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) SVP Stephen Rooney sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $38.71, for a total transaction of $58,065.00. Following the completion of the sale, the senior vice president directly owned 8,606 shares of the company’s stock, valued at $333,138.26. The trade was a 14.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Orange County Bancorp Price Performance

Orange County Bancorp stock opened at $38.61 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $36.86 and a 200-day simple moving average of $34.51. Orange County Bancorp, Inc. has a 12 month low of $22.98 and a 12 month high of $40.10. The stock has a market capitalization of $517.76 million, a PE ratio of 10.88 and a beta of 0.41.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.22. The company had revenue of $27.82 million for the quarter, compared to analysts’ expectations of $33.00 million. Orange County Bancorp had a net margin of 30.80% and a return on equity of 16.80%.

Orange County Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, June 4th. Orange County Bancorp’s payout ratio is 20.28%.

Institutional Investors Weigh In On Orange County Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in shares of Orange County Bancorp by 5,416.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock worth $25,000 after purchasing an additional 975 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Orange County Bancorp in the second quarter valued at about $28,000. Royal Bank of Canada boosted its holdings in Orange County Bancorp by 108.3% during the first quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock worth $33,000 after buying an additional 535 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Orange County Bancorp by 706.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company’s stock worth $89,000 after buying an additional 3,025 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Orange County Bancorp during the second quarter worth about $104,000. Institutional investors and hedge funds own 42.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OBT. Weiss Ratings restated a “buy (b)” rating on shares of Orange County Bancorp in a research report on Friday, June 26th. Hovde Group boosted their target price on Orange County Bancorp from $40.00 to $42.50 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Orange County Bancorp Company Profile

Orange County Bancorp, Inc (NASDAQ: OBT) is the bank holding company for Orange County Trust Bank, a community banking franchise headquartered in Goshen, New York. The company provides a full suite of financial services to individuals, small businesses and local organizations across Orange County and the surrounding Hudson Valley region.

Orange County Bancorp offers depository products that include checking and savings accounts, money market funds and certificates of deposit. On the lending side, the company extends commercial real estate and business loans, residential mortgage loans, consumer installment loans and home equity financing.