Orange County Bancorp (NASDAQ:OBT) Stock: Insider Joseph Ruhl Sells 1,923 Shares

Orange County Bancorp, Inc. (NASDAQ:OBT) insider Joseph Ruhl sold 1,923 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $40.27, for a total transaction of $77,439.21. Following the completion of the transaction, the insider directly owned 32,859 shares of the company’s stock, valued at approximately $1,323,231.93. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Orange County Bancorp Price Performance

Shares of OBT opened at $39.50 on Friday. The business has a 50-day simple moving average of $37.96 and a two-hundred day simple moving average of $35.67. The stock has a market cap of $529.70 million, a PE ratio of 10.75 and a beta of 0.38. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.11. Orange County Bancorp, Inc. has a 12-month low of $25.01 and a 12-month high of $41.66.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Orange County Bancorp had a return on equity of 16.95% and a net margin of 32.35%. The company had revenue of $35.30 million for the quarter, compared to the consensus estimate of $33.50 million. Analysts anticipate that Orange County Bancorp, Inc. will post 3.63 earnings per share for the current fiscal year.

Orange County Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, September 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 1.8%. The ex-dividend date was Friday, September 4th. Orange County Bancorp’s payout ratio is 19.30%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OBT. Piper Sandler set a $44.00 target price on Orange County Bancorp and gave the stock an “overweight” rating in a report on Friday, September 4th. Weiss Ratings cut Orange County Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Hovde Group increased their price target on shares of Orange County Bancorp from $40.00 to $42.50 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Zacks Research upgraded Orange County Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and an average price target of $43.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in shares of Orange County Bancorp by 107.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 989 shares of the company’s stock worth $35,000 after purchasing an additional 513 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Orange County Bancorp by 108.3% in the 1st quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock worth $33,000 after acquiring an additional 535 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Orange County Bancorp during the second quarter valued at approximately $40,000. Legal & General Group Plc bought a new position in Orange County Bancorp in the 2nd quarter worth $45,000. Finally, GoalVest Advisory LLC bought a new stake in Orange County Bancorp in the second quarter worth about $151,000. 42.55% of the stock is owned by institutional investors.

Orange County Bancorp Company Profile

Orange County Bancorp, Inc is the bank holding company for Orange Bank & Trust Company, a community-focused commercial bank headquartered in Middletown, New York. Through its banking subsidiary, the company provides financial services to businesses, professionals, municipalities and individual customers.

Orange Bank & Trust offers commercial and consumer lending, business and personal deposit accounts, cash-management services, online and mobile banking, treasury services, and residential mortgage products.