Orange County Bancorp (NASDAQ:OBT) Insider Joseph Ruhl Sells 1,923 Shares of Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) insider Joseph Ruhl sold 1,923 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $40.27, for a total value of $77,439.21. Following the completion of the sale, the insider directly owned 32,859 shares of the company’s stock, valued at $1,323,231.93. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Orange County Bancorp Trading Down 1.4%

Shares of Orange County Bancorp stock traded down $0.56 on Thursday, reaching $39.86. The company had a trading volume of 76,758 shares, compared to its average volume of 61,604. The firm has a market cap of $534.52 million, a price-to-earnings ratio of 10.69 and a beta of 0.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.91. The firm’s 50-day moving average price is $37.89 and its two-hundred day moving average price is $35.57. Orange County Bancorp, Inc. has a 1 year low of $25.01 and a 1 year high of $41.66.

Orange County Bancorp (NASDAQ:OBT) last released its earnings results on Wednesday, October 28th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. Orange County Bancorp had a return on equity of 16.95% and a net margin of 32.35%. The firm had revenue of $35.30 million for the quarter, compared to the consensus estimate of $33.50 million. As a group, research analysts predict that Orange County Bancorp, Inc. will post 3.63 earnings per share for the current fiscal year.

Orange County Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th were given a dividend of $0.18 per share. The ex-dividend date was Friday, September 4th. This represents a $0.72 dividend on an annualized basis and a yield of 1.8%. Orange County Bancorp’s payout ratio is 19.30%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OBT. BlackRock Inc. bought a new position in Orange County Bancorp in the 2nd quarter worth about $72,094,000. The Manufacturers Life Insurance Company purchased a new position in shares of Orange County Bancorp during the second quarter worth approximately $11,311,000. Dimensional Fund Advisors LP increased its position in shares of Orange County Bancorp by 29.9% during the first quarter. Dimensional Fund Advisors LP now owns 126,936 shares of the company’s stock worth $4,060,000 after acquiring an additional 29,205 shares during the period. Bank of America Corp DE purchased a new position in shares of Orange County Bancorp during the second quarter worth approximately $2,125,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Orange County Bancorp during the second quarter valued at approximately $2,026,000. 42.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on OBT shares. Zacks Research upgraded shares of Orange County Bancorp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th. Piper Sandler set a $44.00 price objective on shares of Orange County Bancorp and gave the stock an “overweight” rating in a research note on Friday, September 4th. Weiss Ratings lowered Orange County Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Finally, 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 note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Orange County Bancorp currently has a consensus rating of “Strong Buy” and an average price target of $43.25.

Orange County Bancorp Company Profile

Orange County Bancorp, Inc is the bank holding company for Orange Bank & Trust Company, a community-focused commercial bank headquartered in Middletown, New York. Through its banking subsidiary, the company provides financial services to businesses, professionals, municipalities and individual customers.

Orange Bank & Trust offers commercial and consumer lending, business and personal deposit accounts, cash-management services, online and mobile banking, treasury services, and residential mortgage products.