Orange County Bancorp, Inc. (NASDAQ:OBT) SVP Michael Listner Sells 589 Shares

Orange County Bancorp, Inc. (NASDAQ:OBT) SVP Michael Listner sold 589 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.40, for a total value of $34,986.60. Following the completion of the transaction, the senior vice president now directly owns 3,072 shares of the company’s stock, valued at approximately $182,476.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Orange County Bancorp Price Performance

Shares of Orange County Bancorp stock opened at $59.70 on Friday. Orange County Bancorp, Inc. has a twelve month low of $41.00 and a twelve month high of $64.01. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The company has a 50-day simple moving average of $56.76 and a two-hundred day simple moving average of $52.98. The stock has a market capitalization of $338.14 million, a price-to-earnings ratio of 11.66 and a beta of 0.36.

Orange County Bancorp (NASDAQ:OBT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.86). Orange County Bancorp had a return on equity of 16.91% and a net margin of 20.31%. The company had revenue of $35.61 million for the quarter, compared to analyst estimates of $26.60 million. Analysts forecast that Orange County Bancorp, Inc. will post 5.43 EPS for the current year.

Orange County Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, September 4th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.92 annualized dividend and a yield of 1.54%. Orange County Bancorp’s payout ratio is currently 17.97%.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their target price on shares of Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st.

Hedge Funds Weigh In On Orange County Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OBT. Dimensional Fund Advisors LP boosted its position in shares of Orange County Bancorp by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,564 shares of the company’s stock valued at $399,000 after acquiring an additional 674 shares during the period. Bank of New York Mellon Corp raised its stake in Orange County Bancorp by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 22,730 shares of the company’s stock valued at $1,202,000 after purchasing an additional 1,376 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Orange County Bancorp in the third quarter valued at approximately $110,000. Vanguard Group Inc. raised its stake in Orange County Bancorp by 1.3% in the first quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock valued at $9,267,000 after purchasing an additional 2,492 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV raised its stake in Orange County Bancorp by 0.7% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 602,918 shares of the company’s stock valued at $36,368,000 after purchasing an additional 4,408 shares in the last quarter. Institutional investors own 42.55% of the company’s stock.

Orange County Bancorp Company Profile

Orange County Bancorp, Inc, through its subsidiaries, provides commercial and consumer banking products and services, and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.