Key Points
- Executive insider sale: EVP Gregory Sousa sold 1,165 Orange County Bancorp shares at an average price of $38.75, generating $45,143.75 and reducing his direct ownership by 8.55% to 12,454 shares. He also sold 1,882 shares in a separate transaction on August 3.
- Quarterly performance: Orange County Bancorp reported quarterly EPS of $1.02, beating the $0.80 consensus estimate, while revenue totaled $27.82 million versus expectations of $33.00 million.
- Market and analyst outlook: Shares opened at $38.27, near the company’s 52-week high of $40.10. Analysts maintain a “Moderate Buy” consensus, with an average price target of $39.25; the company also pays a $0.18 quarterly dividend.
Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) EVP Gregory Sousa sold 1,165 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $38.75, for a total transaction of $45,143.75. Following the sale, the executive vice president directly owned 12,454 shares in the company, valued at approximately $482,592.50. The trade was a 8.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Gregory Sousa also recently made the following trade(s):
- On Monday, August 3rd, Gregory Sousa sold 1,882 shares of Orange County Bancorp stock. The shares were sold at an average price of $38.75, for a total value of $72,927.50.
Orange County Bancorp Trading Up 0.1%
Shares of NASDAQ:OBT opened at $38.27 on Tuesday. Orange County Bancorp, Inc. has a 1 year low of $22.98 and a 1 year high of $40.10. The firm has a market capitalization of $513.20 million, a price-to-earnings ratio of 10.78 and a beta of 0.41. 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's 50 day moving average price is $36.51 and its 200-day moving average price is $34.28.
Orange County Bancorp (NASDAQ:OBT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.80 by $0.22. The company had revenue of $27.82 million during the quarter, compared to analyst estimates 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 disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were issued 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 payout ratio is presently 20.28%.
Institutional Investors Weigh In On Orange County Bancorp
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. increased its holdings in Orange County Bancorp by 230.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 12,283 shares of the company's stock valued at $287,000 after purchasing an additional 8,569 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Orange County Bancorp by 107.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,036 shares of the company's stock valued at $141,000 after buying an additional 3,132 shares during the period. Goldman Sachs Group Inc. lifted its stake in Orange County Bancorp by 85.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 36,838 shares of the company's stock worth $862,000 after acquiring an additional 16,929 shares in the last quarter. Jane Street Group LLC acquired a new position in Orange County Bancorp during the 1st quarter worth about $204,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Orange County Bancorp during the 2nd quarter valued at about $28,000. Institutional investors and hedge funds own 42.55% of the company's stock.
Wall Street Analyst Weigh In
OBT has been the subject of a number of research analyst reports. Hovde Group increased their target price on Orange County Bancorp from $40.00 to $42.50 and gave the company an "outperform" rating in a report on Friday. Weiss Ratings reissued a "buy (b)" rating on shares of Orange County Bancorp in a research note on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Orange County Bancorp has a consensus rating of "Moderate Buy" and an average target price of $39.25.
Read Our Latest Research Report on OBT
About Orange County Bancorp
(
Get Free Report)
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.
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