Gregory Sousa Sells 426 Shares of Orange County Bancorp, Inc. (NASDAQ:OBT) Stock

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

Orange County Bancorp Price Performance

OBT stock opened at $61.30 on Thursday. The business’s fifty day moving average price is $56.75 and its 200 day moving average price is $52.93. Orange County Bancorp, Inc. has a 12-month low of $41.00 and a 12-month high of $64.01. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $346.96 million, a PE ratio of 11.97 and a beta of 0.36.

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

Orange County Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.92 dividend on an annualized basis and a yield of 1.50%. Orange County Bancorp’s dividend payout ratio (DPR) is presently 17.97%.

Hedge Funds Weigh In On Orange County Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hudson Valley Investment Advisors Inc. ADV raised its position in Orange County Bancorp by 0.7% in the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 602,918 shares of the company’s stock valued at $36,368,000 after purchasing an additional 4,408 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Orange County Bancorp during the third quarter worth approximately $110,000. Dimensional Fund Advisors LP raised its holdings in Orange County Bancorp by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,564 shares of the company’s stock valued at $399,000 after acquiring an additional 674 shares in the last quarter. Bank of New York Mellon Corp raised its holdings 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 in the last quarter. Finally, Hennessy Advisors Inc. lifted 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 worth $1,841,000 after acquiring an additional 7,809 shares during the last quarter. Hedge funds and other institutional investors own 42.55% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler dropped their target price on shares of Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating for the company 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.