Orange County Bancorp (NASDAQ:OBT) Given "Hold (C+)" Rating at Weiss Ratings

Key Points

• Orange County Bancorp has been given a "hold (C+)" rating by Weiss Ratings, while Zacks Research upgraded it from "strong sell" to "hold".
• The company's stock price target averages at $29.25 following adjustments from multiple analysts, with some rating it a "Buy" and others a "Hold".
• Orange County Bancorp reported $0.87 earnings per share for its most recent quarter, exceeding analysts' expectations of $0.76.

Orange County Bancorp (NASDAQ:OBT - Get Free Report)'s stock had its "hold (c+)" rating restated by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other research firms have also commented on OBT. Zacks Research upgraded shares of Orange County Bancorp from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Hovde Group decreased their price objective on shares of Orange County Bancorp from $30.50 to $29.50 and set an "outperform" rating on the stock in a research report on Tuesday, June 10th. Finally, Piper Sandler reduced their target price on shares of Orange County Bancorp from $30.00 to $29.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $29.25.

Orange County Bancorp Stock Performance

NASDAQ:OBT opened at $24.50 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. Orange County Bancorp has a fifty-two week low of $20.97 and a fifty-two week high of $33.06. The stock has a market cap of $327.39 million, a PE ratio of 9.59 and a beta of 0.45. The firm's fifty day simple moving average is $25.44 and its 200-day simple moving average is $25.17.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.11. Orange County Bancorp had a net margin of 19.84% and a return on equity of 14.19%. The business had revenue of $32.46 million for the quarter, compared to analysts' expectations of $29.00 million. Analysts expect that Orange County Bancorp will post 2.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Orange County Bancorp during the 2nd quarter valued at about $28,000. Tower Research Capital LLC TRC increased its stake in shares of 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 valued at $89,000 after acquiring an additional 3,025 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Orange County Bancorp during the 2nd quarter valued at about $104,000. Corebridge Financial Inc. increased its stake in shares of Orange County Bancorp by 97.0% during the 1st quarter. Corebridge Financial Inc. now owns 5,007 shares of the company's stock valued at $117,000 after acquiring an additional 2,466 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake 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 valued at $124,000 after acquiring an additional 2,643 shares during the last quarter. Institutional investors and hedge funds own 42.55% of the company's stock.

Orange County Bancorp Company Profile

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.

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