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

Key Points

• Orange County Bancorp (NASDAQ:OBT) received a "hold (C+)" rating from Weiss Ratings, amidst a mixed consensus with two analysts assigning a Buy rating and two giving a Hold rating.
• The company reported earnings of $0.87 per share, exceeding analysts' expectations of $0.76, with a revenue of $32.46 million for the quarter, surpassing estimates of $29.00 million.
• Orange County Bancorp's stock price opened at $24.68, with a market capitalization of $329.72 million and an average price target of $29.25 from analysts.

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

OBT has been the subject of a number of other reports. Zacks Research upgraded shares of Orange County Bancorp from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Piper Sandler decreased their price objective on shares of Orange County Bancorp from $30.00 to $29.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Orange County Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $29.25.

Orange County Bancorp Trading Up 0.8%

NASDAQ:OBT opened at $24.68 on Friday. The company has a fifty day moving average of $25.47 and a 200 day moving average of $25.26. Orange County Bancorp has a 52 week low of $20.97 and a 52 week high of $33.06. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $329.72 million, a P/E ratio of 9.66 and a beta of 0.45.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.87 EPS for the quarter, beating 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 company had revenue of $32.46 million during the quarter, compared to analyst estimates of $29.00 million. On average, research analysts predict that Orange County Bancorp will post 2.83 earnings per share for the current year.

Institutional Trading of Orange County Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of OBT. Keybank National Association OH grew its position in shares of Orange County Bancorp by 100.0% in the 1st quarter. Keybank National Association OH now owns 35,000 shares of the company's stock worth $819,000 after buying an additional 17,500 shares during the period. Bank of New York Mellon Corp grew its position in shares of Orange County Bancorp by 91.8% in the 1st quarter. Bank of New York Mellon Corp now owns 53,772 shares of the company's stock worth $1,258,000 after buying an additional 25,734 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Orange County Bancorp in the 1st quarter worth about $631,000. New York State Common Retirement Fund grew its position in shares of Orange County Bancorp by 100.0% in the 1st quarter. New York State Common Retirement Fund now owns 5,286 shares of the company's stock worth $124,000 after buying an additional 2,643 shares during the period. Finally, Carnegie Investment Counsel purchased a new stake in shares of Orange County Bancorp in the 1st quarter worth about $664,000. 42.55% of the stock is owned by hedge funds and other institutional investors.

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.

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