Insider Selling: Orange County Bancorp (NASDAQ:OBT) SVP Sells $28,810.00 in Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) SVP David Dineen sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $28.81, for a total transaction of $28,810.00. Following the sale, the senior vice president directly owned 8,214 shares of the company’s stock, valued at $236,645.34. The trade was a 10.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Orange County Bancorp Stock Up 2.4%

Shares of NASDAQ:OBT opened at $29.65 on Thursday. The firm has a market cap of $396.42 million, a PE ratio of 9.82 and a beta of 0.44. The company has a fifty day simple moving average of $26.00 and a 200 day simple moving average of $25.77. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. Orange County Bancorp, Inc. has a 12-month low of $20.97 and a 12-month high of $29.96.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $33.73 million during the quarter, compared to analyst estimates of $28.60 million. Orange County Bancorp had a net margin of 23.51% and a return on equity of 15.98%. On average, equities research analysts anticipate that Orange County Bancorp, Inc. will post 2.83 EPS for the current fiscal year.

Orange County Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Thursday, December 4th were issued a $0.18 dividend. This is an increase from Orange County Bancorp’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, December 4th. Orange County Bancorp’s dividend payout ratio is presently 23.84%.

Analyst Upgrades and Downgrades

A number of research firms have commented on OBT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Orange County Bancorp in a report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating and set a $31.00 price objective (up from $29.00) on shares of Orange County Bancorp in a research note on Wednesday, December 10th. Finally, Zacks Research raised shares of Orange County Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in Orange County Bancorp by 5,416.7% in the third quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock worth $25,000 after buying an additional 975 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Orange County Bancorp during the second quarter worth about $28,000. CWM LLC increased its holdings in shares of Orange County Bancorp by 174.5% in the 3rd quarter. CWM LLC now owns 1,356 shares of the company’s stock worth $34,000 after acquiring an additional 862 shares during the period. New York State Common Retirement Fund lifted its position in Orange County Bancorp by 140.0% in the 3rd quarter. New York State Common Retirement Fund now owns 3,086 shares of the company’s stock valued at $78,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Orange County Bancorp by 706.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company’s stock valued at $89,000 after purchasing an additional 3,025 shares during the last quarter. Institutional investors and hedge funds 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.