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

Key Points

• Executive vice president Gregory Sousa sold 1,165 Orange County Bancorp shares at an average price of $38.75, generating $45,143.75. His remaining direct holdings fell 8.55% to 12,454 shares; he also sold 1,882 shares in a separate transaction.
• Orange County Bancorp reported quarterly EPS of $1.02, beating the $0.80 consensus estimate, though revenue of $27.82 million came in below the $33.00 million forecast.
• The stock traded near $38.65, close to its 12-month high of $40.10. Analysts maintain a “Moderate Buy” consensus, with three Buy ratings, one Hold, and an average target price of $39.25.

Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) EVP Gregory Sousa sold 1,165 shares of the business's stock in a transaction 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 sale, the executive vice president directly owned 12,454 shares of the company's stock, valued at approximately $482,592.50. The trade was a 8.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $38.75, for a total value of $72,927.50.

Orange County Bancorp Stock Performance

Shares of NASDAQ OBT traded up $0.40 during trading on Monday, hitting $38.65. The company had a trading volume of 19,121 shares, compared to its average volume of 63,421. Orange County Bancorp, Inc. has a 12 month low of $22.98 and a 12 month 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 firm has a market capitalization of $518.35 million, a P/E ratio of 10.89 and a beta of 0.41. The stock has a 50 day simple moving average of $36.42 and a 200 day simple moving average of $34.22.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.22. The company had revenue of $27.82 million during 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 Dividend Announcement

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

Institutional Trading of Orange County Bancorp

Large investors have recently added to or reduced their stakes in the company. GoalVest Advisory LLC purchased a new stake in shares of Orange County Bancorp during the 2nd quarter worth approximately $151,000. Bank of America Corp DE grew its holdings in shares of Orange County Bancorp by 30.4% in the first quarter. Bank of America Corp DE now owns 47,658 shares of the company's stock valued at $1,524,000 after purchasing an additional 11,105 shares in the last quarter. Royal Bank of Canada raised its stake in Orange County Bancorp by 108.3% during the first quarter. Royal Bank of Canada now owns 1,029 shares of the company's stock valued at $33,000 after purchasing an additional 535 shares in the last quarter. Quantinno Capital Management LP lifted its position in Orange County Bancorp by 25.9% during the first quarter. Quantinno Capital Management LP now owns 28,841 shares of the company's stock valued at $922,000 after purchasing an additional 5,937 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Orange County Bancorp by 169.4% in the 1st quarter. Renaissance Technologies LLC now owns 22,900 shares of the company's stock worth $732,000 after buying an additional 14,400 shares in the last quarter. Institutional investors own 42.55% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on OBT shares. Hovde Group lifted their target price on Orange County Bancorp from $40.00 to $42.50 and gave the company an "outperform" rating in a research note on Friday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Orange County Bancorp in a research note on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.