Insider Selling: Orange County Bancorp (NASDAQ:OBT) Insider Sells $77,439.21 in Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) insider Joseph Ruhl sold 1,923 shares of Orange County Bancorp stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $40.27, for a total transaction of $77,439.21. Following the sale, the insider owned 32,859 shares of the company’s stock, valued at approximately $1,323,231.93. This represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Orange County Bancorp Stock Performance

Shares of NASDAQ:OBT opened at $39.50 on Friday. Orange County Bancorp, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $41.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.91. The company has a market capitalization of $529.70 million, a price-to-earnings ratio of 10.59 and a beta of 0.38. The firm’s 50 day simple moving average is $37.96 and its 200 day simple moving average is $35.67.

Orange County Bancorp (NASDAQ:OBT) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. The company had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $33.50 million. Orange County Bancorp had a net margin of 32.35% and a return on equity of 16.95%. As a group, sell-side analysts forecast that Orange County Bancorp, Inc. will post 3.63 earnings per share for the current year.

Orange County Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th were paid a $0.18 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.72 dividend on an annualized basis and a yield of 1.8%. Orange County Bancorp’s dividend payout ratio (DPR) is currently 19.30%.

Wall Street Analysts Forecast Growth

OBT has been the topic of a number of recent analyst reports. Weiss Ratings downgraded Orange County Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Zacks Research upgraded Orange County Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Piper Sandler set a $44.00 target price on Orange County Bancorp and gave the stock an “overweight” rating in a report on Friday, September 4th. Finally, Hovde Group increased 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, July 31st. Two analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, Orange County Bancorp has a consensus rating of “Strong Buy” and an average price target of $43.25.

Institutional Investors Weigh In On Orange County Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue raised its holdings in 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 during the last quarter. Royal Bank of Canada raised its stake in shares of Orange County Bancorp by 108.3% in the first quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock worth $33,000 after purchasing an additional 535 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Orange County Bancorp in the second quarter valued at approximately $40,000. Legal & General Group Plc bought a new position in shares of Orange County Bancorp in the second quarter valued at approximately $45,000. Finally, HighTower Advisors LLC lifted its holdings in shares of Orange County Bancorp by 25.9% in the second quarter. HighTower Advisors LLC now owns 9,516 shares of the company’s stock valued at $350,000 after purchasing an additional 1,960 shares in the last quarter. 42.55% of the stock is currently owned by institutional investors and hedge funds.

Orange County Bancorp Company Profile

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.