Insider Selling: Orange County Bancorp, Inc. (NASDAQ:OBT) EVP Sells 426 Shares of Stock

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

Orange County Bancorp Stock Down 2.6 %

NASDAQ OBT opened at $59.70 on Friday. The business’s fifty day simple moving average is $56.76 and its 200-day simple moving average is $52.98. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a market cap of $338.14 million, a PE ratio of 11.66 and a beta of 0.36. Orange County Bancorp, Inc. has a 52 week low of $41.00 and a 52 week high of $64.01.

Orange County Bancorp (NASDAQ:OBT) last posted its 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 business 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%. As a group, equities analysts anticipate that Orange County Bancorp, Inc. will post 5.43 earnings per share for the current year.

Orange County Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, September 4th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Wednesday, September 4th. Orange County Bancorp’s payout ratio is 17.97%.

Institutional Trading of Orange County Bancorp

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Orange County Bancorp during the 3rd quarter worth approximately $110,000. Dimensional Fund Advisors LP raised its stake in Orange County Bancorp by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,564 shares of the company’s stock worth $399,000 after acquiring an additional 674 shares in the last quarter. Bank of New York Mellon Corp lifted its position 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 acquiring an additional 1,376 shares during the last quarter. Hennessy Advisors Inc. boosted its stake 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 acquiring an additional 7,809 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 worth $9,267,000 after purchasing an additional 2,492 shares during the last quarter. Institutional investors and hedge funds own 42.55% of the company’s stock.

Wall Street Analyst Weigh In

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 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.