Orange County Bancorp (NASDAQ:OBT) Upgraded by Zacks Research to “Hold” Rating

Orange County Bancorp (NASDAQ:OBT) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

OBT has been the subject of several other research reports. Piper Sandler reduced their price objective on shares of Orange County Bancorp from $30.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Hovde Group lowered their target price on shares of Orange County Bancorp from $30.50 to $29.50 and set an “outperform” rating for the company in a report on Tuesday, June 10th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

Orange County Bancorp Stock Performance

NASDAQ:OBT opened at $25.21 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $336.81 million, a P/E ratio of 9.87 and a beta of 0.47. The company has a 50 day moving average price of $25.66 and a 200 day moving average price of $25.15. Orange County Bancorp has a fifty-two week low of $20.97 and a fifty-two week high of $33.06.

Orange County Bancorp (NASDAQ:OBT) last released its earnings results on Wednesday, July 30th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Orange County Bancorp had a net margin of 19.84% and a return on equity of 14.19%. The company had revenue of $32.46 million for the quarter, compared to analyst estimates of $29.00 million. Equities research analysts forecast that Orange County Bancorp will post 2.83 EPS for the current year.

Institutional Trading of Orange County Bancorp

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in shares of Orange County Bancorp in the fourth quarter worth about $46,000. Public Employees Retirement System of Ohio bought a new stake in shares of Orange County Bancorp in the 4th quarter worth about $60,000. Northwestern Mutual Wealth Management Co. bought a new stake in Orange County Bancorp during the 2nd quarter worth about $28,000. Tower Research Capital LLC TRC lifted its position in Orange County Bancorp by 706.8% during 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 period. Finally, Raymond James Financial Inc. acquired a new position in Orange County Bancorp during the 2nd quarter valued at about $104,000. 42.55% of the stock is currently owned by institutional investors and hedge funds.

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.