Orange County Bancorp, Inc. (NASDAQ:OBT) SVP Michael Listner Sells 589 Shares

Orange County Bancorp, Inc. (NASDAQ:OBT) SVP Michael Listner sold 589 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $59.40, for a total value of $34,986.60. Following the completion of the sale, the senior vice president now owns 3,072 shares in the company, valued at $182,476.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Orange County Bancorp Price Performance

NASDAQ OBT traded down $1.74 during trading hours on Thursday, reaching $59.56. 2,593 shares of the stock traded hands, compared to its average volume of 10,787. The stock has a 50 day simple moving average of $56.75 and a two-hundred day simple moving average of $52.93. Orange County Bancorp, Inc. has a 1 year low of $41.00 and a 1 year high of $64.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $337.11 million, a price-to-earnings ratio of 11.97 and a beta of 0.36.

Orange County Bancorp (NASDAQ:OBT) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.86). Orange County Bancorp had a net margin of 20.31% and a return on equity of 16.91%. The firm had revenue of $35.61 million for the quarter, compared to analysts’ expectations of $26.60 million. On average, analysts predict that Orange County Bancorp, Inc. will post 5.43 EPS for the current fiscal year.

Orange County Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, September 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.54%. Orange County Bancorp’s dividend payout ratio (DPR) is currently 17.97%.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Separately, Piper Sandler lowered their price objective on Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st.

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.