Insider Selling: Orange County Bancorp (NASDAQ:OBT) EVP Sells $45,143.75 in Stock

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

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 stock was sold at an average price of $38.75, for a total value of $72,927.50.

Orange County Bancorp Stock Performance

Shares of OBT stock opened at $38.89 on Thursday. Orange County Bancorp, Inc. has a fifty-two week low of $22.98 and a fifty-two week high of $40.10. The stock’s 50-day moving average is $36.69 and its two-hundred day moving average is $34.42. 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 firm has a market cap of $521.51 million, a P/E ratio of 10.95 and a beta of 0.41.

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, beating the consensus estimate of $0.80 by $0.22. The business had revenue of $27.82 million during the quarter, compared to analyst estimates of $33.00 million. Orange County Bancorp had a return on equity of 16.80% and a net margin of 30.80%.

Orange County Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently commented on OBT shares. Hovde Group increased their price target on shares of Orange County Bancorp from $40.00 to $42.50 and gave the stock an “outperform” rating in a research note 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 research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Orange County Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $39.25.

Institutional Investors Weigh In On Orange County Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Orange County Bancorp by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 10,666 shares of the company’s stock worth $269,000 after purchasing an additional 476 shares during the period. Royal Bank of Canada raised its position in shares of Orange County Bancorp by 108.3% in the first quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock valued at $33,000 after purchasing an additional 535 shares during the period. Rhumbline Advisers raised its position in shares of Orange County Bancorp by 8.1% in the third quarter. Rhumbline Advisers now owns 10,600 shares of the company’s stock valued at $267,000 after purchasing an additional 793 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Orange County Bancorp by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 20,268 shares of the company’s stock worth $524,000 after buying an additional 862 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Orange County Bancorp by 4.1% in the fourth quarter. LPL Financial LLC now owns 22,285 shares of the company’s stock worth $636,000 after buying an additional 875 shares during the last quarter. 42.55% of the stock is currently owned by institutional investors and hedge funds.

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.