Orange County Bancorp (NASDAQ:OBT) Stock Price Expected to Rise, Piper Sandler Analyst Says

Orange County Bancorp (NASDAQ:OBT) had its target price raised by analysts at Piper Sandler from $66.00 to $71.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 20.01% from the company’s current price.

Orange County Bancorp Stock Performance

NASDAQ:OBT opened at $59.16 on Friday. The firm has a market cap of $335.67 million, a price-to-earnings ratio of 11.55 and a beta of 0.40. Orange County Bancorp has a 1-year low of $41.00 and a 1-year high of $66.11. The firm’s fifty day moving average price is $58.08 and its 200 day moving average price is $55.17. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89.

Orange County Bancorp (NASDAQ:OBT) last issued its earnings results on Wednesday, October 30th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.86). Orange County Bancorp had a return on equity of 16.37% and a net margin of 20.31%. The company had revenue of $35.61 million for the quarter, compared to analysts’ expectations of $26.60 million. On average, sell-side analysts expect that Orange County Bancorp will post 4.93 EPS for the current year.

Insider Transactions at Orange County Bancorp

In related news, insider Joseph A. Ruhl sold 910 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $57.75, for a total transaction of $52,552.50. Following the completion of the transaction, the insider now owns 14,464 shares of the company’s stock, valued at approximately $835,296. This represents a 5.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael Listner sold 589 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.40, for a total value of $34,986.60. Following the sale, the senior vice president now directly owns 3,072 shares of the company’s stock, valued at approximately $182,476.80. This trade represents a 16.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,925 shares of company stock valued at $110,969 over the last three months. 10.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Orange County Bancorp

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Orange County Bancorp in the third quarter valued at about $110,000. Quadrature Capital Ltd bought a new stake in shares of Orange County Bancorp during the third quarter valued at approximately $379,000. Dimensional Fund Advisors LP grew its stake in shares of Orange County Bancorp by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,564 shares of the company’s stock worth $399,000 after purchasing an additional 674 shares in the last quarter. Barclays PLC boosted its holdings in shares of Orange County Bancorp by 183.2% in the third quarter. Barclays PLC now owns 7,934 shares of the company’s stock valued at $478,000 after acquiring an additional 5,132 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Orange County Bancorp by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 22,730 shares of the company’s stock worth $1,202,000 after buying an additional 1,376 shares in 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.