Orange County Bancorp (NASDAQ:OBT) EVP Gregory Sousa Sells 1,165 Shares of Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) EVP Gregory Sousa sold 1,165 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $38.75, for a total value of $45,143.75. Following the sale, the executive vice president directly owned 12,454 shares in the company, valued at $482,592.50. The trade was a 8.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 1.1%

Shares of Orange County Bancorp stock traded up $0.40 on Monday, reaching $38.65. The company had a trading volume of 19,121 shares, compared to its average volume of 63,421. The firm has a market cap of $518.35 million, a price-to-earnings ratio of 10.89 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 firm’s 50-day moving average price is $36.42 and its two-hundred day moving average price is $34.22. Orange County Bancorp, Inc. has a 1 year low of $22.98 and a 1 year high of $40.10.

Orange County Bancorp (NASDAQ:OBT) last released its earnings results on Wednesday, July 29th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.22. Orange County Bancorp had a return on equity of 16.80% and a net margin of 30.80%.The firm had revenue of $27.82 million for the quarter, compared to the consensus estimate of $33.00 million.

Orange County Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.9%. Orange County Bancorp’s dividend payout ratio (DPR) is 20.28%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Hovde Group raised their price target on Orange County Bancorp from $40.00 to $42.50 and gave the company an “outperform” rating in a research note on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Orange County Bancorp in a research note on Friday, June 26th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Hedge Funds Weigh In On Orange County Bancorp

Large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in Orange County Bancorp by 5,416.7% during the third quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock worth $25,000 after buying an additional 975 shares during the period. Royal Bank of Canada increased its holdings in shares of Orange County Bancorp by 108.3% in the 1st quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock valued at $33,000 after acquiring an additional 535 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Orange County Bancorp in the 2nd quarter valued at $28,000. Tower Research Capital LLC TRC raised its position in shares of Orange County Bancorp by 706.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company’s stock worth $89,000 after acquiring an additional 3,025 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Orange County Bancorp in the 2nd quarter worth $104,000. Institutional investors own 42.55% of the company’s stock.

Orange County Bancorp Company Profile

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.