Insider Selling: Orange County Bancorp, Inc. (NASDAQ:OBT) EVP Sells 2,440 Shares of Stock

Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) EVP Gregory Sousa sold 2,440 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $24.61, for a total transaction of $60,048.40. Following the completion of the transaction, the executive vice president now owns 10,280 shares in the company, valued at $252,990.80. This represents a 19.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Orange County Bancorp Trading Up 1.3 %

Shares of NASDAQ:OBT traded up $0.32 during mid-day trading on Friday, reaching $25.80. The stock had a trading volume of 24,652 shares, compared to its average volume of 26,144. The firm has a 50 day simple moving average of $23.67 and a two-hundred day simple moving average of $26.34. Orange County Bancorp, Inc. has a twelve month low of $20.97 and a twelve month high of $33.06. The firm has a market cap of $293.71 million, a PE ratio of 10.45 and a beta of 0.46. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $28.10 million. On average, research analysts predict that Orange County Bancorp, Inc. will post 2.83 EPS for the current fiscal year.

Orange County Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.13 per share. This is an increase from Orange County Bancorp's previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, March 4th. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. Orange County Bancorp's dividend payout ratio is currently 21.58%.

Hedge Funds Weigh In On Orange County Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OBT. BNP Paribas Financial Markets bought a new stake in shares of Orange County Bancorp in the fourth quarter worth $46,000. Public Employees Retirement System of Ohio bought a new stake in shares of Orange County Bancorp during the 4th quarter worth about $60,000. Wells Fargo & Company MN increased its stake in shares of Orange County Bancorp by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock worth $167,000 after purchasing an additional 652 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Orange County Bancorp during the fourth quarter worth $206,000. Finally, New York State Common Retirement Fund grew its position in shares of Orange County Bancorp by 100.0% during the 1st quarter. New York State Common Retirement Fund now owns 5,286 shares of the company's stock worth $124,000 after purchasing an additional 2,643 shares in the last quarter. 42.55% of the stock is owned by institutional investors and hedge funds.

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.