Orange County Bancorp (NASDAQ:OBT) Trading Down 0.5% – Time to Sell?

Orange County Bancorp, Inc. (NASDAQ:OBT) dropped 0.5% during mid-day trading on Monday . The company traded as low as $36.83 and last traded at $37.39. 68,888 shares traded hands during trading, a decline of 21% from the average session volume of 87,118 shares. The stock had previously closed at $37.56.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Orange County Bancorp in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Orange County Bancorp Price Performance

The company’s 50 day moving average price is $35.63 and its 200-day moving average price is $33.65. The company has a market cap of $501.40 million, a price-to-earnings ratio of 11.00 and a beta of 0.41. 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) last released its earnings results on Tuesday, April 28th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.78 by $0.07. The business had revenue of $32.08 million during the quarter, compared to analyst estimates of $32.30 million. Orange County Bancorp had a net margin of 27.54% and a return on equity of 16.09%.

Orange County Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, June 4th. Orange County Bancorp’s payout ratio is presently 21.18%.

Institutional Investors Weigh In On Orange County Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Orange County Bancorp by 230.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 12,283 shares of the company’s stock valued at $287,000 after purchasing an additional 8,569 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Orange County Bancorp by 107.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,036 shares of the company’s stock worth $141,000 after purchasing an additional 3,132 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Orange County Bancorp by 85.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 36,838 shares of the company’s stock worth $862,000 after purchasing an additional 16,929 shares in the last quarter. Jane Street Group LLC acquired a new stake in Orange County Bancorp during the 1st quarter worth about $204,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Orange County Bancorp during the 2nd quarter worth about $28,000. 42.55% of the stock is owned by institutional investors and hedge funds.

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.