Gregory Sousa Sells 1,882 Shares of Orange County Bancorp (NASDAQ:OBT) Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) EVP Gregory Sousa sold 1,882 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $38.75, for a total value of $72,927.50. Following the completion of the sale, the executive vice president directly owned 10,572 shares in the company, valued at $409,665. This trade represents a 15.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Gregory Sousa also recently made the following trade(s):

• On Thursday, July 30th, Gregory Sousa sold 1,165 shares of Orange County Bancorp stock. The shares were sold at an average price of $38.75, for a total value of $45,143.75.

Orange County Bancorp Price Performance

Shares of NASDAQ:OBT opened at $38.80 on Wednesday. The business has a fifty day moving average price of $36.59 and a 200-day moving average price of $34.35. 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 company has a market capitalization of $520.31 million, a PE ratio of 10.93 and a beta of 0.41. 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 announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.22. The company had revenue of $27.82 million for the quarter, compared to analysts’ expectations of $33.00 million. Orange County Bancorp had a net margin of 30.80% and a return on equity of 16.80%.

Orange County Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, June 4th. Orange County Bancorp’s dividend payout ratio is currently 20.28%.

Hedge Funds Weigh In On Orange County Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GoalVest Advisory LLC bought a new stake in shares of Orange County Bancorp in the second quarter worth approximately $151,000. Bank of America Corp DE lifted its position in Orange County Bancorp by 30.4% during the first quarter. Bank of America Corp DE now owns 47,658 shares of the company’s stock valued at $1,524,000 after purchasing an additional 11,105 shares during the period. Royal Bank of Canada boosted its holdings in 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. Quantinno Capital Management LP boosted its holdings in Orange County Bancorp by 25.9% in the first quarter. Quantinno Capital Management LP now owns 28,841 shares of the company’s stock worth $922,000 after purchasing an additional 5,937 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Orange County Bancorp by 169.4% in the 1st quarter. Renaissance Technologies LLC now owns 22,900 shares of the company’s stock worth $732,000 after purchasing an additional 14,400 shares during the period. Institutional investors own 42.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OBT shares. Weiss Ratings reissued a “buy (b)” rating on shares of Orange County Bancorp in a research report on Friday, June 26th. Hovde Group upped their price objective on Orange County Bancorp from $40.00 to $42.50 and gave the company an “outperform” rating in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Orange County Bancorp has an average rating of “Moderate Buy” and a consensus price target of $39.25.

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.