Orange County Bancorp (NASDAQ:OBT) SVP David Dineen Sells 1,000 Shares

Orange County Bancorp, Inc. (NASDAQ:OBT) SVP David Dineen sold 1,000 shares of Orange County Bancorp stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $28.81, for a total value of $28,810.00. Following the completion of the transaction, the senior vice president owned 8,214 shares in the company, valued at $236,645.34. The trade was a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Orange County Bancorp Price Performance

Shares of OBT traded up $0.54 during mid-day trading on Monday, reaching $29.24. The company had a trading volume of 54,332 shares, compared to its average volume of 36,906. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $390.94 million, a P/E ratio of 9.68 and a beta of 0.44. Orange County Bancorp, Inc. has a twelve month low of $20.97 and a twelve month high of $29.88. The company’s 50-day moving average is $25.80 and its 200-day moving average is $25.72.

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

Orange County Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 16th. Investors of record on Thursday, December 4th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, December 4th. This is a boost from Orange County Bancorp’s previous quarterly dividend of $0.13. Orange County Bancorp’s payout ratio is presently 23.84%.

Institutional Trading of Orange County Bancorp

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in Orange County Bancorp by 92.4% in the 1st quarter. Wellington Management Group LLP now owns 509,258 shares of the company’s stock valued at $11,912,000 after buying an additional 244,503 shares during the last quarter. Fourthstone LLC bought a new position in shares of Orange County Bancorp during the 2nd quarter valued at approximately $6,210,000. Endeavour Capital Advisors Inc. purchased a new stake in shares of Orange County Bancorp during the 2nd quarter worth approximately $5,121,000. EJF Capital LLC purchased a new position in Orange County Bancorp in the second quarter valued at approximately $2,944,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Orange County Bancorp by 29.8% during the second quarter. The Manufacturers Life Insurance Company now owns 319,723 shares of the company’s stock valued at $8,262,000 after purchasing an additional 73,483 shares during the period. Institutional investors own 42.55% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.