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

Orange County Bancorp, Inc. (NASDAQ:OBT) insider Joseph Ruhl sold 1,923 shares of the business’s stock in a transaction dated 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 owned 32,859 shares in the company, valued at approximately $1,323,231.93. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Orange County Bancorp Stock Down 1.4%

OBT stock opened at $39.86 on Friday. 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 stock has a market capitalization of $534.44 million, a P/E ratio of 10.69 and a beta of 0.38. Orange County Bancorp, Inc. has a fifty-two week low of $25.01 and a fifty-two week high of $41.66. The business has a 50-day moving average of $37.93 and a 200-day moving average of $35.62.

Orange County Bancorp (NASDAQ:OBT) last announced its earnings results on Wednesday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $35.30 million for the quarter, compared to analyst estimates of $33.50 million. On average, sell-side analysts anticipate that Orange County Bancorp, Inc. will post 3.63 earnings per share for the current fiscal year.

Orange County Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

OBT has been the subject of several recent research reports. 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 target on shares of Orange County Bancorp and gave the company an “overweight” rating in a research note on Friday, September 4th. Hovde Group boosted 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 report on Friday, July 31st. Finally, Weiss Ratings cut shares of Orange County Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Two analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and an average target price of $43.25.

Institutional Investors Weigh In On Orange County Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. bought a new stake in shares of Orange County Bancorp in the 3rd quarter valued at about $559,000. Culbertson A N & Co. Inc. lifted its stake in Orange County Bancorp by 122.1% in the 3rd quarter. Culbertson A N & Co. Inc. now owns 12,880 shares of the company’s stock valued at $476,000 after purchasing an additional 7,080 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Orange County Bancorp by 107.8% during the third quarter. State of Alaska Department of Revenue now owns 989 shares of the company’s stock worth $35,000 after purchasing an additional 513 shares during the period. Squarepoint Ops LLC grew its holdings in Orange County Bancorp by 26.5% during the second quarter. Squarepoint Ops LLC now owns 15,756 shares of the company’s stock worth $580,000 after purchasing an additional 3,301 shares during the period. Finally, HighTower Advisors LLC grew its holdings in Orange County Bancorp by 25.9% during the second quarter. HighTower Advisors LLC now owns 9,516 shares of the company’s stock worth $350,000 after purchasing an additional 1,960 shares during the period. Institutional investors own 42.55% of the company’s stock.

About Orange County Bancorp

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.