Orange County Bancorp (NASDAQ:OBT) SVP Stephen Rooney Sells 1,500 Shares

Orange County Bancorp, Inc. (NASDAQ:OBT) SVP Stephen Rooney sold 1,500 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $38.71, for a total value of $58,065.00. Following the completion of the transaction, the senior vice president directly owned 8,606 shares in the company, valued at $333,138.26. This trade represents a 14.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Orange County Bancorp Stock Up 0.0%

Orange County Bancorp stock traded up $0.01 during midday trading on Wednesday, reaching $38.81. The company’s stock had a trading volume of 9,939 shares, compared to its average volume of 63,261. The company has a market cap of $520.44 million, a P/E ratio of 10.96 and a beta of 0.41. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.12. The business has a 50-day simple moving average of $36.59 and a 200-day simple moving average of $34.35. Orange County Bancorp, Inc. has a fifty-two week low of $22.98 and a fifty-two week high of $40.10.

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

Orange County Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

OBT has been the subject of several research analyst reports. Hovde Group upped their target price on shares of Orange County Bancorp from $40.00 to $42.50 and gave the company an “outperform” rating in a report on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Orange County Bancorp in a research note on Friday, June 26th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Orange County Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $39.25.

Hedge Funds Weigh In On Orange County Bancorp

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in shares of Orange County Bancorp by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,666 shares of the company’s stock valued at $269,000 after acquiring an additional 476 shares during the period. Royal Bank of Canada boosted its stake in Orange County Bancorp by 108.3% during the 1st quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock worth $33,000 after purchasing an additional 535 shares during the period. Rhumbline Advisers grew its position in Orange County Bancorp by 8.1% during the 3rd quarter. Rhumbline Advisers now owns 10,600 shares of the company’s stock worth $267,000 after purchasing an additional 793 shares during the last quarter. Ameriprise Financial Inc. grew its position in Orange County Bancorp by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 20,268 shares of the company’s stock worth $524,000 after purchasing an additional 862 shares during the last quarter. Finally, LPL Financial LLC grew its position in Orange County Bancorp by 4.1% during the 4th quarter. LPL Financial LLC now owns 22,285 shares of the company’s stock worth $636,000 after purchasing an additional 875 shares during the last quarter. 42.55% of the stock is currently owned by hedge funds and other institutional investors.

About Orange County Bancorp

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.