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 Orange County Bancorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $59.40, for a total value of $34,986.60. Following the sale, the senior vice president now directly owns 3,072 shares in the company, 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 filing with the SEC, which is accessible through this hyperlink.

Orange County Bancorp Stock Down 2.8 %

Shares of OBT stock traded down $1.74 during trading hours on Thursday, hitting $59.56. 2,593 shares of the company’s stock traded hands, compared to its average volume of 10,787. The stock’s fifty day simple moving average is $56.75 and its two-hundred day simple moving average is $52.93. Orange County Bancorp, Inc. has a 12-month low of $41.00 and a 12-month high of $64.01. The stock has a market cap of $337.11 million, a price-to-earnings ratio of 11.97 and a beta of 0.36. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45.

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

Orange County Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Piper Sandler cut their price objective on Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st.

Hedge Funds Weigh In On Orange County Bancorp

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Orange County Bancorp in the 3rd quarter worth approximately $110,000. Dimensional Fund Advisors LP raised its holdings in Orange County Bancorp by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,564 shares of the company’s stock worth $399,000 after acquiring an additional 674 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Orange County Bancorp by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 22,730 shares of the company’s stock valued at $1,202,000 after buying an additional 1,376 shares during the last quarter. Hennessy Advisors Inc. raised its stake in Orange County Bancorp by 28.9% during the 2nd quarter. Hennessy Advisors Inc. now owns 34,809 shares of the company’s stock valued at $1,841,000 after buying an additional 7,809 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Orange County Bancorp by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock valued at $9,267,000 after buying an additional 2,492 shares during the last quarter. 42.55% of the stock is currently owned by hedge funds and other institutional investors.

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.