Orange County Bancorp, Inc. (NASDAQ:OBT – Get Free Report) EVP Gregory Sousa sold 1,882 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $38.75, for a total transaction of $72,927.50. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
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 shares were sold at an average price of $38.75, for a total value of $45,143.75.
Orange County Bancorp Price Performance
NASDAQ OBT traded up $0.40 during trading hours on Monday, reaching $38.65. The company’s stock had a trading volume of 19,121 shares, compared to its average volume of 63,421. The firm has a market capitalization of $518.35 million, a price-to-earnings ratio of 10.88 and a beta of 0.41. The company’s 50-day moving average is $36.42 and its two-hundred day moving average is $34.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92. Orange County Bancorp, Inc. has a 1-year low of $22.98 and a 1-year high of $40.10.
Orange County Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.72 dividend on an annualized basis and a yield of 1.9%. Orange County Bancorp’s dividend payout ratio (DPR) is currently 20.28%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Hovde Group upped their price objective 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. Weiss Ratings restated a “buy (b)” rating on shares of Orange County Bancorp in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.25.
View Our Latest Research Report on Orange County Bancorp
Institutional Investors Weigh In On Orange County Bancorp
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its stake in shares of Orange County Bancorp by 5,416.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock valued at $25,000 after purchasing an additional 975 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Orange County Bancorp in the second quarter valued at about $28,000. Royal Bank of Canada boosted its stake in Orange County Bancorp by 108.3% during the first 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 period. Tower Research Capital LLC TRC increased its position in shares of Orange County Bancorp by 706.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company’s stock valued at $89,000 after acquiring an additional 3,025 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Orange County Bancorp during the second quarter valued at about $104,000. Hedge funds and other institutional investors own 42.55% of the company’s stock.
Orange County Bancorp Company Profile
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.
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