Orange County Bancorp (NASDAQ:OBT) Lowered to Hold Rating by Wall Street Zen

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

A number of other analysts have also recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $36.00 price target (up from $32.00) on shares of Orange County Bancorp in a research report on Thursday, February 5th. Hovde Group raised their price objective on Orange County Bancorp from $32.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Finally, Weiss Ratings upgraded Orange County Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Orange County Bancorp Stock Down 0.7%

Shares of Orange County Bancorp stock opened at $30.94 on Friday. Orange County Bancorp has a 1 year low of $20.97 and a 1 year high of $37.99. The firm has a market cap of $413.67 million, a price-to-earnings ratio of 9.32 and a beta of 0.42. The company has a 50-day moving average of $32.14 and a 200 day moving average of $28.43. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.75 by $0.18. Orange County Bancorp had a net margin of 26.32% and a return on equity of 16.51%. The business had revenue of $33.03 million for the quarter, compared to analyst estimates of $31.40 million. As a group, sell-side analysts anticipate that Orange County Bancorp will post 2.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orange County Bancorp

Institutional investors have recently made changes to their positions in the company. Azora Capital LP purchased a new position in Orange County Bancorp in the 2nd quarter worth approximately $1,292,000. Fourthstone LLC bought a new position in shares of Orange County Bancorp during the 2nd quarter valued at $6,210,000. Gator Capital Management LLC purchased a new position in Orange County Bancorp in the second quarter worth about $517,000. Endeavour Capital Advisors Inc. purchased a new position in shares of Orange County Bancorp in the second quarter worth approximately $5,121,000. Finally, EJF Capital LLC purchased a new position in shares of Orange County Bancorp during the 2nd quarter worth $2,944,000. Hedge funds and other institutional investors own 42.55% of the company’s stock.

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.