Orange County Bancorp (NASDAQ:OBT) Insider Joseph Ruhl Sells 1,923 Shares of Stock
by Renee Jackson · The Cerbat GemOrange County Bancorp, Inc. (NASDAQ:OBT – Get Free Report) insider Joseph Ruhl sold 1,923 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $40.27, for a total value of $77,439.21. Following the transaction, the insider owned 32,859 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink.
Orange County Bancorp Stock Performance
Orange County Bancorp stock traded down $0.56 during midday trading on Thursday, hitting $39.86. The stock had a trading volume of 76,758 shares, compared to its average volume of 61,604. Orange County Bancorp, Inc. has a 52-week low of $25.01 and a 52-week high of $41.66. The company has a market capitalization of $534.52 million, a PE ratio of 10.69 and a beta of 0.38. The firm’s fifty day moving average is $37.89 and its two-hundred day moving average is $35.57. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.
Orange County Bancorp (NASDAQ:OBT – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $35.30 million for the quarter, compared to the consensus estimate of $33.50 million. Orange County Bancorp had a net margin of 32.35% and a return on equity of 16.95%. On average, research analysts forecast that Orange County Bancorp, Inc. will post 3.63 EPS for the current year.
Orange County Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, September 4th were paid a dividend of $0.18 per share. 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 payout ratio is 19.30%.
Hedge Funds Weigh In On Orange County Bancorp
Institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its stake 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 valued at $35,000 after purchasing an additional 513 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Orange County Bancorp by 108.3% in the 1st quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock worth $33,000 after buying an additional 535 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Orange County Bancorp in the 2nd quarter worth about $40,000. Legal & General Group Plc purchased a new stake in shares of Orange County Bancorp during the 2nd quarter valued at about $45,000. Finally, GoalVest Advisory LLC purchased a new stake in shares of Orange County Bancorp during the 2nd quarter valued at about $151,000. Hedge funds and other institutional investors own 42.55% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on OBT. Hovde Group increased their price target 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 downgraded Orange County Bancorp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Piper Sandler set a $44.00 price objective on Orange County Bancorp and gave the stock an “overweight” rating in a research note on Friday, September 4th. Finally, Zacks Research upgraded Orange County Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus target price of $43.25.
View Our Latest Stock Analysis on OBT
Orange County Bancorp Company Profile
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.
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