Orange County Bancorp (NASDAQ:OBT) Stock Rating Upgraded by Wall Street Zen

Orange County Bancorp (NASDAQ:OBT) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other equities analysts have also issued reports about the stock. Hovde Group raised 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 report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Orange County Bancorp in a research note on Thursday, January 22nd. Finally, Piper Sandler restated an “overweight” rating and set a $36.00 price objective (up from $32.00) on shares of Orange County Bancorp in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.00.

Orange County Bancorp Trading Up 3.3%

Shares of NASDAQ OBT opened at $35.21 on Friday. Orange County Bancorp has a 1-year low of $20.97 and a 1-year high of $35.43. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50 day moving average is $29.38 and its two-hundred day moving average is $26.83. The stock has a market capitalization of $470.76 million, a P/E ratio of 10.61 and a beta of 0.43.

Orange County Bancorp (NASDAQ:OBT) last announced its earnings results on Wednesday, February 4th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.18. The business had revenue of $33.03 million for the quarter, compared to the consensus estimate of $31.40 million. Orange County Bancorp had a net margin of 26.32% and a return on equity of 17.24%. As a group, research analysts expect that Orange County Bancorp will post 2.83 EPS for the current year.

Insiders Place Their Bets

In other Orange County Bancorp news, SVP David P. Dineen sold 1,000 shares of Orange County Bancorp stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $28.81, for a total transaction of $28,810.00. Following the completion of the transaction, the senior vice president owned 8,214 shares in the company, valued at approximately $236,645.34. This trade represents a 10.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.30% of the company’s stock.

Hedge Funds Weigh In On Orange County Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OBT. Russell Investments Group Ltd. lifted its stake in shares of Orange County Bancorp by 5,416.7% in 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 last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Orange County Bancorp in the 2nd quarter valued at about $28,000. CWM LLC lifted its position in Orange County Bancorp by 174.5% in the third quarter. CWM LLC now owns 1,356 shares of the company’s stock valued at $34,000 after buying an additional 862 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Orange County Bancorp by 140.0% during 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 period. Finally, Tower Research Capital LLC TRC increased its position in shares of 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 acquiring an additional 3,025 shares during 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 (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.