Orange County Bancorp (NASDAQ:OBT) Trading Down 0.4% - Time to Sell?

Key Points

• Shares traded down 0.4% to $35.99 on Monday on slightly lighter volume, and analysts hold a "Moderate Buy" consensus with an average price target of $37.00 (three Buys, one Hold).
• Orange County Bancorp beat quarterly expectations, reporting $0.93 EPS vs. $0.75 estimate and $33.03M revenue, with a 26.3% net margin and 16.5% return on equity.
• The bank pays a $0.18 quarterly dividend (annualized $0.72, ~2.0% yield), trades at a P/E of 10.84 with a market cap of about $482.6M, and has roughly 42.6% institutional ownership.

Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report)'s stock price traded down 0.4% on Monday . The stock traded as low as $35.97 and last traded at $35.99. 74,811 shares traded hands during trading, a decline of 8% from the average session volume of 81,060 shares. The stock had previously closed at $36.14.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Orange County Bancorp from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 6th. Wall Street Zen lowered shares of Orange County Bancorp from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Piper Sandler reaffirmed an "overweight" rating and issued a $36.00 target price (up from $32.00) on shares of Orange County Bancorp in a report on Thursday, February 5th. Finally, Hovde Group upped their target price on shares of Orange County Bancorp from $32.00 to $38.00 and gave the stock an "outperform" rating in a research note on Friday, February 6th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $37.00.

Orange County Bancorp Trading Down 0.4%

The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91. The stock's 50-day moving average is $33.26 and its two-hundred day moving average is $29.59. The company has a market cap of $482.63 million, a P/E ratio of 10.84 and a beta of 0.43.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last announced its earnings results on Wednesday, February 4th. The company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.18. The business had revenue of $33.03 million during the quarter, compared to analyst estimates of $31.40 million. Orange County Bancorp had a net margin of 26.32% and a return on equity of 16.51%.

Orange County Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, March 4th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, March 4th. Orange County Bancorp's dividend payout ratio is 21.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in shares of Orange County Bancorp by 5,416.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 993 shares of the company's stock valued at $25,000 after purchasing an additional 975 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Orange County Bancorp in the 2nd quarter worth approximately $28,000. CWM LLC boosted its holdings in shares of Orange County Bancorp by 174.5% in the third quarter. CWM LLC now owns 1,356 shares of the company's stock worth $34,000 after buying an additional 862 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Orange County Bancorp by 140.0% in the third quarter. New York State Common Retirement Fund now owns 3,086 shares of the company's stock worth $78,000 after buying an additional 1,800 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Orange County Bancorp by 706.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company's stock valued at $89,000 after buying an additional 3,025 shares during the period. 42.55% of the stock is owned by hedge funds and other institutional investors.

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.

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