Stephen Rooney Sells 1,500 Shares of Orange County Bancorp (NASDAQ:OBT) Stock

Key Points

• Senior Vice President Stephen Rooney sold 1,500 Orange County Bancorp shares at an average price of $38.71, totaling $58,065. Following the transaction, he retained 8,606 shares.
• Orange County Bancorp reported quarterly EPS of $1.02, exceeding analysts’ $0.80 estimate, while revenue reached $27.82 million. Shares traded near $38.81, close to their 52-week high of $40.10.
• The company maintains a quarterly dividend of $0.18, equivalent to an annualized $0.72 payout and a 1.9% yield. Analysts have a “Moderate Buy” consensus rating with an average price target of $39.25.

Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) SVP Stephen Rooney sold 1,500 shares of Orange County Bancorp stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $38.71, for a total transaction of $58,065.00. Following the sale, the senior vice president directly owned 8,606 shares in the company, valued at approximately $333,138.26. The trade was a 14.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Orange County Bancorp Trading Up 0.0%

Shares of NASDAQ OBT traded up $0.01 during mid-day trading on Wednesday, reaching $38.81. 9,939 shares of the company's stock were exchanged, compared to its average volume of 63,261. The firm has a market capitalization of $520.44 million, a price-to-earnings ratio of 10.96 and a beta of 0.41. Orange County Bancorp, Inc. has a 52-week low of $22.98 and a 52-week high of $40.10. The company's 50-day moving average is $36.59 and its 200-day moving average is $34.35. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 0.92.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.22. The business had revenue of $27.82 million for the quarter, compared to the consensus estimate of $33.00 million. Orange County Bancorp had a net margin of 30.80% and a return on equity of 16.80%.

Orange County Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.9%. Orange County Bancorp's payout ratio is presently 20.28%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OBT. GoalVest Advisory LLC acquired a new stake in Orange County Bancorp in the 2nd quarter valued at about $151,000. Bank of America Corp DE grew its position in shares of Orange County Bancorp by 30.4% during the first quarter. Bank of America Corp DE now owns 47,658 shares of the company's stock worth $1,524,000 after buying an additional 11,105 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Orange County Bancorp by 108.3% during the first quarter. Royal Bank of Canada now owns 1,029 shares of the company's stock worth $33,000 after buying an additional 535 shares during the period. Quantinno Capital Management LP raised its holdings in Orange County Bancorp by 25.9% in the first quarter. Quantinno Capital Management LP now owns 28,841 shares of the company's stock valued at $922,000 after acquiring an additional 5,937 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Orange County Bancorp by 169.4% during the 1st quarter. Renaissance Technologies LLC now owns 22,900 shares of the company's stock worth $732,000 after acquiring an additional 14,400 shares in the last quarter. 42.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Orange County Bancorp in a research report on Friday, June 26th. Hovde Group raised their price objective on shares of Orange County Bancorp from $40.00 to $42.50 and gave the company an "outperform" rating in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Orange County Bancorp presently has an average rating of "Moderate Buy" and an average price target of $39.25.

Orange County Bancorp Company Profile

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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