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

Orange County Bancorp, Inc. (NASDAQ:OBT) SVP Stephen Rooney sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $38.71, for a total value of $58,065.00. Following the completion of the transaction, the senior vice president owned 8,606 shares in the company, valued at $333,138.26. The trade was a 14.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Orange County Bancorp Price Performance

Shares of NASDAQ OBT opened at $38.39 on Friday. The firm has a 50-day simple moving average of $36.77 and a 200-day simple moving average of $34.48. 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 stock has a market capitalization of $514.81 million, a price-to-earnings ratio of 10.81 and a beta of 0.41. 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 posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.22. Orange County Bancorp had a net margin of 30.80% and a return on equity of 16.80%. The firm had revenue of $27.82 million for the quarter, compared to analyst estimates of $33.00 million.

Orange County Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, June 4th. Orange County Bancorp’s dividend payout ratio (DPR) is currently 20.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Hovde Group boosted their price objective on 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 reaffirmed 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Hedge Funds Weigh In On Orange County Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Orange County Bancorp during the 2nd quarter worth approximately $2,026,000. GoalVest Advisory LLC acquired a new position in Orange County Bancorp in the second quarter valued at approximately $151,000. Bank of America Corp DE grew its position in Orange County Bancorp by 30.4% in the first quarter. Bank of America Corp DE now owns 47,658 shares of the company’s stock worth $1,524,000 after acquiring an additional 11,105 shares during the period. Royal Bank of Canada grew its position 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 worth $33,000 after acquiring an additional 535 shares during the period. Finally, Quantinno Capital Management LP increased its stake in Orange County Bancorp by 25.9% during the first quarter. Quantinno Capital Management LP now owns 28,841 shares of the company’s stock worth $922,000 after acquiring an additional 5,937 shares during the last quarter. 42.55% of the stock is currently owned by institutional investors and hedge funds.

About Orange County Bancorp

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.