Orange County Bancorp, Inc. (NASDAQ:OBT) EVP Sells $23,430.00 in Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) EVP Gregory Sousa sold 426 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $55.00, for a total value of $23,430.00. Following the sale, the executive vice president now owns 4,252 shares of the company’s stock, valued at $233,860. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Orange County Bancorp Price Performance

Shares of NASDAQ:OBT traded up $5.15 during trading on Wednesday, hitting $60.45. 15,138 shares of the company were exchanged, compared to its average volume of 10,749. The business’s 50 day moving average is $56.70 and its 200-day moving average is $52.87. The company has a market capitalization of $342.15 million, a P/E ratio of 10.80 and a beta of 0.36. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. Orange County Bancorp, Inc. has a 1-year low of $41.00 and a 1-year high of $64.01.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.86). The company had revenue of $35.61 million for the quarter, compared to analyst estimates of $26.60 million. Orange County Bancorp had a return on equity of 16.91% and a net margin of 20.31%. Equities analysts forecast that Orange County Bancorp, Inc. will post 5.41 earnings per share for the current year.

Orange County Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.92 annualized dividend and a dividend yield of 1.52%. Orange County Bancorp’s dividend payout ratio (DPR) is presently 17.97%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler cut their target price on Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Orange County Bancorp in the third quarter valued at $110,000. Dimensional Fund Advisors LP increased its holdings in Orange County Bancorp by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,564 shares of the company’s stock valued at $399,000 after purchasing an additional 674 shares during the period. Bank of New York Mellon Corp increased its holdings in Orange County Bancorp by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 22,730 shares of the company’s stock valued at $1,202,000 after purchasing an additional 1,376 shares during the period. Hennessy Advisors Inc. increased its holdings in Orange County Bancorp by 28.9% in the second quarter. Hennessy Advisors Inc. now owns 34,809 shares of the company’s stock valued at $1,841,000 after purchasing an additional 7,809 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Orange County Bancorp by 1.3% in the first quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock valued at $9,267,000 after purchasing an additional 2,492 shares during the period. 42.55% of the stock is currently owned by institutional investors and hedge funds.

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.