Orange County Bancorp (NASDAQ:OBT) SVP Stephen Rooney Sells 1,500 Shares of Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) SVP Stephen Rooney sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $38.71, for a total transaction of $58,065.00. Following the transaction, the senior vice president owned 8,606 shares in the company, valued at approximately $333,138.26. The trade was a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Orange County Bancorp Stock Up 0.2%

Orange County Bancorp stock opened at $38.89 on Thursday. The company’s 50 day simple moving average is $36.69 and its 200 day simple moving average is $34.42. Orange County Bancorp, Inc. has a fifty-two week low of $22.98 and a fifty-two week high of $40.10. The firm has a market capitalization of $521.51 million, a price-to-earnings ratio of 10.95 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.

Orange County Bancorp (NASDAQ:OBT) last issued its earnings results on Wednesday, July 29th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.80 by $0.22. The firm had revenue of $27.82 million during the quarter, compared to the consensus estimate 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, June 4th. Orange County Bancorp’s dividend payout ratio (DPR) is presently 20.28%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Orange County Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Orange County Bancorp by 230.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 12,283 shares of the company’s stock worth $287,000 after acquiring an additional 8,569 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Orange County Bancorp by 107.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,036 shares of the company’s stock worth $141,000 after buying an additional 3,132 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Orange County Bancorp by 85.0% in the first quarter. Goldman Sachs Group Inc. now owns 36,838 shares of the company’s stock valued at $862,000 after acquiring an additional 16,929 shares in the last quarter. Jane Street Group LLC bought a new position in Orange County Bancorp during the first quarter worth about $204,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Orange County Bancorp in the 2nd quarter worth about $28,000. 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.