Orange County Bancorp (NASDAQ:OBT) EVP Sells $72,927.50 in Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) EVP Gregory Sousa sold 1,882 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $38.75, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

OBT opened at $38.89 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $521.51 million, a P/E ratio of 10.95 and a beta of 0.41. The stock has a 50-day moving average price of $36.69 and a 200-day moving average price of $34.42. Orange County Bancorp, Inc. has a 12-month low of $22.98 and a 12-month high of $40.10.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.22. The company had revenue of $27.82 million for the quarter, compared to analysts’ expectations 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 declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.18 per share. 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 (DPR) is 20.28%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Orange County Bancorp in a research report on Friday, June 26th. Hovde Group upped their price target on shares of Orange County Bancorp from $40.00 to $42.50 and gave the company an “outperform” rating in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Orange County Bancorp has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Institutional Trading of Orange County Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Orange County Bancorp by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 550,920 shares of the company’s stock valued at $13,889,000 after buying an additional 8,793 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Orange County Bancorp by 29.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 319,723 shares of the company’s stock worth $8,262,000 after acquiring an additional 73,483 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Orange County Bancorp by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 258,623 shares of the company’s stock valued at $7,385,000 after acquiring an additional 8,955 shares during the period. Fourthstone LLC increased its position in shares of Orange County Bancorp by 169.9% in the fourth quarter. Fourthstone LLC now owns 192,846 shares of the company’s stock valued at $5,506,000 after acquiring an additional 121,402 shares during the period. Finally, State Street Corp raised its stake in shares of Orange County Bancorp by 1.5% during the fourth quarter. State Street Corp now owns 166,234 shares of the company’s stock valued at $4,746,000 after acquiring an additional 2,446 shares during the last quarter. Hedge funds and other institutional investors own 42.55% of the company’s stock.

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.