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 company’s stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Orange County Bancorp Trading Up 9.3 %

OBT traded up $5.15 during trading on Wednesday, reaching $60.45. 15,138 shares of the stock traded hands, compared to its average volume of 10,749. 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 stock has a market capitalization of $342.15 million, a PE ratio of 10.80 and a beta of 0.36. The stock’s 50-day moving average is $56.70 and its 200 day moving average is $52.87. Orange County Bancorp, Inc. has a 12 month low of $41.00 and a 12 month high of $64.01.

Orange County Bancorp (NASDAQ:OBT) last released its quarterly earnings data 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). The company had revenue of $35.61 million for the quarter, compared to the consensus estimate of $26.60 million. Orange County Bancorp had a return on equity of 16.91% and a net margin of 20.31%. Equities analysts anticipate that Orange County Bancorp, Inc. will post 5.41 earnings per share for the current year.

Orange County Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, September 4th were given 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 dividend yield of 1.52%. Orange County Bancorp’s dividend payout ratio (DPR) is presently 17.97%.

Hedge Funds Weigh In On Orange County Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Orange County Bancorp during the 3rd quarter worth about $110,000. Dimensional Fund Advisors LP lifted its position in Orange County Bancorp by 9.8% in the 2nd 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 lifted its position in Orange County Bancorp by 6.4% in the 2nd 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. Hennessy Advisors Inc. lifted its position in Orange County Bancorp by 28.9% in the 2nd 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. lifted its position in Orange County Bancorp by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock valued at $9,267,000 after acquiring an additional 2,492 shares in the last quarter. Institutional investors own 42.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their price target on shares of 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.