Orange County Bancorp (NASDAQ:OBT - Free Report) had its price objective lowered by Hovde Group from $30.50 to $29.50 in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage currently has an outperform rating on the stock.
Orange County Bancorp Stock Down 2.2%
NASDAQ OBT traded down $0.53 during trading hours on Tuesday, reaching $24.00. 71,131 shares of the company's stock were exchanged, compared to its average volume of 28,432. The company's 50-day moving average is $24.42 and its two-hundred day moving average is $25.79. Orange County Bancorp has a one year low of $20.97 and a one year high of $33.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $314.50 million, a price-to-earnings ratio of 9.72 and a beta of 0.48.
Orange County Bancorp (NASDAQ:OBT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.10. Orange County Bancorp had a return on equity of 15.51% and a net margin of 19.47%. The business had revenue of $27.98 million during the quarter, compared to analysts' expectations of $28.10 million. On average, analysts forecast that Orange County Bancorp will post 2.83 EPS for the current fiscal year.
Orange County Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, June 4th. Orange County Bancorp's dividend payout ratio (DPR) is currently 21.58%.
Insiders Place Their Bets
In other Orange County Bancorp news, insider Joseph A. Ruhl sold 1,752 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $26.67, for a total transaction of $46,725.84. Following the completion of the transaction, the insider now owns 31,485 shares of the company's stock, valued at $839,704.95. This represents a 5.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jon Schiller acquired 6,451 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was bought at an average cost of $23.25 per share, with a total value of $149,985.75. Following the acquisition, the director now owns 12,446 shares in the company, valued at $289,369.50. The trade was a 107.61% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 6,689 shares of company stock valued at $172,121 in the last quarter. 9.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Orange County Bancorp
Several large investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in shares of Orange County Bancorp by 84.7% in the 1st quarter. Rhumbline Advisers now owns 10,501 shares of the company's stock valued at $246,000 after buying an additional 4,816 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Orange County Bancorp in the 1st quarter valued at approximately $204,000. Goldman Sachs Group Inc. boosted its holdings in shares of Orange County Bancorp by 85.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 36,838 shares of the company's stock valued at $862,000 after buying an additional 16,929 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Orange County Bancorp by 107.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,036 shares of the company's stock valued at $141,000 after buying an additional 3,132 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Orange County Bancorp by 230.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 12,283 shares of the company's stock valued at $287,000 after buying an additional 8,569 shares during the last quarter. Institutional investors and hedge funds own 42.55% of the company's stock.
Orange County Bancorp Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Orange County Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Orange County Bancorp wasn't on the list.
While Orange County Bancorp currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
