Orange County Bancorp (NASDAQ:OBT) EVP Gregory Sousa Sells 1,165 Shares

Orange County Bancorp, Inc. (NASDAQ:OBT) EVP Gregory Sousa sold 1,165 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $38.75, for a total value of $45,143.75. Following the completion of the sale, the executive vice president directly owned 12,454 shares of the company’s stock, valued at approximately $482,592.50. This represents a 8.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, August 3rd, Gregory Sousa sold 1,882 shares of Orange County Bancorp stock. The shares were sold at an average price of $38.75, for a total transaction of $72,927.50.

Orange County Bancorp Stock Performance

Shares of Orange County Bancorp stock opened at $38.27 on Tuesday. The firm has a market capitalization of $513.20 million, a P/E ratio of 10.78 and a beta of 0.41. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average price of $36.51 and a 200 day moving average price of $34.28. Orange County Bancorp, Inc. has a 52 week low of $22.98 and a 52 week high of $40.10.

Orange County Bancorp (NASDAQ:OBT) last released its earnings results on Wednesday, July 29th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.22. The company had revenue of $27.82 million during 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were paid a dividend of $0.18 per share. 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 payout ratio is presently 20.28%.

Institutional Trading of Orange County Bancorp

Several large investors have recently made changes to their positions in OBT. Bank of America Corp DE raised its holdings in shares of 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 worth $1,524,000 after purchasing an additional 11,105 shares during the last quarter. Royal Bank of Canada grew its position in Orange County Bancorp by 108.3% during the 1st 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 period. Quantinno Capital Management LP boosted its stake in shares of 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 buying an additional 5,937 shares during the last quarter. Renaissance Technologies LLC raised its position in Orange County Bancorp by 169.4% during the first quarter. Renaissance Technologies LLC now owns 22,900 shares of the company’s stock valued at $732,000 after acquiring an additional 14,400 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Orange County Bancorp during the first quarter valued at approximately $572,000. 42.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OBT shares. Hovde Group upped their target price on Orange County Bancorp from $40.00 to $42.50 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Orange County Bancorp in a research note on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.