Key Points
- Insider Joseph Ruhl sold 1,923 shares for about $77,439 at an average price of $40.27, reducing his direct ownership by 5.53% to 32,859 shares.
- Orange County Bancorp reported quarterly EPS of $0.93, beating the $0.82 consensus estimate; revenue of $35.3 million also exceeded expectations.
- Analysts’ consensus rating is Strong Buy, with an average price target of $43.25. The company’s quarterly dividend is $0.18 per share, or $0.72 annualized.
Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) insider Joseph Ruhl sold 1,923 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $40.27, for a total value of $77,439.21. Following the transaction, the insider directly owned 32,859 shares in the company, valued at $1,323,231.93. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Orange County Bancorp Stock Down 1.4%
OBT opened at $39.86 on Friday. Orange County Bancorp, Inc. has a 1-year low of $25.01 and a 1-year high of $41.66. The stock's fifty day simple moving average is $37.93 and its 200 day simple moving average is $35.62. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The stock has a market cap of $534.44 million, a PE ratio of 10.69 and a beta of 0.38.
Orange County Bancorp (NASDAQ:OBT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $35.30 million during the quarter, compared to the consensus estimate of $33.50 million. As a group, research analysts expect that Orange County Bancorp, Inc. will post 3.63 earnings per share for the current year.
Orange County Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.72 annualized dividend and a dividend yield of 1.8%. Orange County Bancorp's dividend payout ratio is presently 19.30%.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Piper Sandler set a $44.00 target price on shares of Orange County Bancorp and gave the stock an "overweight" rating in a report on Friday, September 4th. Hovde Group increased their price target 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. Zacks Research raised shares of Orange County Bancorp from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 7th. Finally, Weiss Ratings downgraded shares of Orange County Bancorp from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Strong Buy" and an average target price of $43.25.
Read Our Latest Stock Report on Orange County Bancorp
Institutional Trading of Orange County Bancorp
Institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. acquired a new position in Orange County Bancorp in the 3rd quarter valued at $559,000. Culbertson A N & Co. Inc. increased its position in Orange County Bancorp by 122.1% during the 3rd quarter. Culbertson A N & Co. Inc. now owns 12,880 shares of the company's stock worth $476,000 after buying an additional 7,080 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Orange County Bancorp by 107.8% during the third quarter. State of Alaska Department of Revenue now owns 989 shares of the company's stock worth $35,000 after buying an additional 513 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Orange County Bancorp by 26.5% during the second quarter. Squarepoint Ops LLC now owns 15,756 shares of the company's stock worth $580,000 after buying an additional 3,301 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Orange County Bancorp by 25.9% during the second quarter. HighTower Advisors LLC now owns 9,516 shares of the company's stock worth $350,000 after buying an additional 1,960 shares in the last quarter. 42.55% of the stock is currently owned by institutional investors.
About Orange County Bancorp
(
Get Free Report)
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.
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