Gregory Sousa Sells 1,165 Shares of Orange County Bancorp (NASDAQ:OBT) Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) EVP Gregory Sousa sold 1,165 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $38.75, for a total transaction of $45,143.75. Following the completion of the sale, the executive vice president owned 12,454 shares in the company, valued at $482,592.50. This represents a 8.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Gregory Sousa also recently made the following trade(s):

• On Monday, August 3rd, Gregory Sousa sold 1,882 shares of Orange County Bancorp stock. The shares were sold at an average price of $38.75, for a total transaction of $72,927.50.

Orange County Bancorp Stock Up 1.4%

Shares of NASDAQ:OBT opened at $38.80 on Wednesday. Orange County Bancorp, Inc. has a 52 week low of $22.98 and a 52 week high of $40.10. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $520.31 million, a PE ratio of 10.93 and a beta of 0.41. The company has a 50 day moving average price of $36.59 and a two-hundred day moving average price of $34.35.

Orange County Bancorp (NASDAQ:OBT) last posted its earnings results on Wednesday, July 29th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.22. The company had revenue of $27.82 million for the quarter, compared to analyst estimates of $33.00 million. Orange County Bancorp had a net margin of 30.80% and a return on equity of 16.80%.

Orange County Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were given a $0.18 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.9%. Orange County Bancorp’s dividend payout ratio is currently 20.28%.

Institutional Investors Weigh In On Orange County Bancorp

Several large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings in shares of Orange County Bancorp by 5,416.7% during the third quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock worth $25,000 after acquiring an additional 975 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Orange County Bancorp in the 2nd quarter worth $28,000. Royal Bank of Canada increased its holdings in Orange County Bancorp by 108.3% during the 1st quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock worth $33,000 after purchasing an additional 535 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings 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 worth $89,000 after purchasing an additional 3,025 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Orange County Bancorp in the 2nd quarter valued at about $104,000. Institutional investors own 42.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Hovde Group lifted their target price on Orange County Bancorp from $40.00 to $42.50 and gave the stock an “outperform” rating in a report on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Orange County Bancorp in a research report on Friday, June 26th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.25.

About Orange County Bancorp

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.