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

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

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 stock was sold at an average price of $38.75, for a total value of $45,143.75.

Orange County Bancorp Price Performance

NASDAQ:OBT opened at $38.27 on Tuesday. Orange County Bancorp, Inc. has a 12-month low of $22.98 and a 12-month high of $40.10. The firm has a market capitalization of $513.20 million, a price-to-earnings ratio of 10.78 and a beta of 0.41. The stock’s 50 day moving average price is $36.51 and its two-hundred day moving average price is $34.28. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.12.

Orange County Bancorp (NASDAQ:OBT) last issued its earnings results on Wednesday, July 29th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.80 by $0.22. Orange County Bancorp had a return on equity of 16.80% and a net margin of 30.80%.The company had revenue of $27.82 million during the quarter, compared to the consensus estimate of $33.00 million.

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 given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.72 annualized dividend and a dividend yield of 1.9%. Orange County Bancorp’s dividend payout ratio is presently 20.28%.

Hedge Funds Weigh In On Orange County Bancorp

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in shares of Orange County Bancorp by 30.4% during the 1st 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 in the last quarter. Royal Bank of Canada raised its stake 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 valued at $33,000 after purchasing an additional 535 shares in the last quarter. Quantinno Capital Management LP raised its stake 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 valued at $922,000 after purchasing an additional 5,937 shares in the last quarter. Renaissance Technologies LLC lifted 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 worth $732,000 after purchasing an additional 14,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Orange County Bancorp during the first quarter worth about $572,000. 42.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OBT. Weiss Ratings reiterated a “buy (b)” rating on shares of Orange County Bancorp in a research note on Friday, June 26th. 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. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently 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.