David Dineen Sells 1,000 Shares of Orange County Bancorp (NASDAQ:OBT) Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) SVP David Dineen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $28.81, for a total transaction of $28,810.00. Following the transaction, the senior vice president owned 8,214 shares in the company, valued at $236,645.34. The trade was a 10.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Orange County Bancorp Stock Performance

Shares of NASDAQ OBT traded up $0.54 during trading on Monday, reaching $29.24. 54,332 shares of the company traded hands, compared to its average volume of 36,906. Orange County Bancorp, Inc. has a 12-month low of $20.97 and a 12-month high of $29.88. The stock has a market cap of $390.94 million, a P/E ratio of 9.68 and a beta of 0.44. The firm’s fifty day simple moving average is $25.80 and its 200 day simple moving average is $25.72. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. Orange County Bancorp had a return on equity of 15.98% and a net margin of 23.51%.The business had revenue of $33.73 million during the quarter, compared to analysts’ expectations of $28.60 million. As a group, research analysts anticipate that Orange County Bancorp, Inc. will post 2.83 earnings per share for the current fiscal year.

Orange County Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Thursday, December 4th will be issued a $0.18 dividend. This is a boost from Orange County Bancorp’s previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Thursday, December 4th. Orange County Bancorp’s payout ratio is currently 23.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orange County Bancorp in a research note on Wednesday, October 8th. Piper Sandler restated an “overweight” rating and issued a $31.00 target price (up previously from $29.00) on shares of Orange County Bancorp in a report on Wednesday, December 10th. Finally, Zacks Research raised Orange County Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Orange County Bancorp presently has an average rating of “Moderate Buy” and an average target price of $30.25.

Hedge Funds Weigh In On Orange County Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in OBT. Russell Investments Group Ltd. grew its stake in Orange County Bancorp by 5,416.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock valued at $25,000 after purchasing an additional 975 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Orange County Bancorp during the 2nd quarter valued at about $28,000. CWM LLC increased its holdings in shares of Orange County Bancorp by 174.5% during the third quarter. CWM LLC now owns 1,356 shares of the company’s stock valued at $34,000 after purchasing an additional 862 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Orange County Bancorp by 140.0% in the third quarter. New York State Common Retirement Fund now owns 3,086 shares of the company’s stock valued at $78,000 after buying an additional 1,800 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Orange County Bancorp by 706.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company’s stock valued at $89,000 after acquiring an additional 3,025 shares during the last quarter. Institutional investors and hedge funds own 42.55% of the company’s stock.

About Orange County Bancorp

Orange County Bancorp, Inc, through its subsidiaries, provides commercial and consumer banking products and services, and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.