Insider Selling: Orange County Bancorp, Inc. (NASDAQ:OBT) SVP Sells 589 Shares of Stock

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

Orange County Bancorp Stock Performance

Shares of OBT opened at $62.09 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $351.43 million, a price-to-earnings ratio of 12.13 and a beta of 0.36. The company’s 50 day simple moving average is $56.85 and its 200 day simple moving average is $53.10. Orange County Bancorp, Inc. has a 1 year low of $41.00 and a 1 year high of $64.01.

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

Orange County Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, September 4th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Wednesday, September 4th. Orange County Bancorp’s payout ratio is currently 17.97%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Orange County Bancorp

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Orange County Bancorp during the 3rd quarter valued at $110,000. Dimensional Fund Advisors LP grew its holdings in Orange County Bancorp by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,564 shares of the company’s stock valued at $399,000 after purchasing an additional 674 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 purchasing an additional 1,376 shares in the last quarter. Hennessy Advisors Inc. grew its holdings 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 purchasing an additional 7,809 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 purchasing an additional 2,492 shares in the last quarter. Institutional investors and hedge funds own 42.55% of the company’s stock.

About Orange County Bancorp

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.