Michael J. Coulter Sells 2,497 Shares of Orange County Bancorp, Inc. (NASDAQ:OBT) Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) EVP Michael J. Coulter sold 2,497 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $26.17, for a total value of $65,346.49. Following the completion of the transaction, the executive vice president now owns 4,984 shares in the company, valued at $130,431.28. This represents a 33.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Orange County Bancorp Stock Down 1.7 %

OBT stock opened at $25.32 on Friday. The company’s 50 day moving average is $23.66 and its 200 day moving average is $26.36. The stock has a market cap of $288.24 million, a price-to-earnings ratio of 10.25 and a beta of 0.46. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Orange County Bancorp, Inc. has a 1-year low of $20.97 and a 1-year high of $33.06.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.10. Orange County Bancorp had a net margin of 19.47% and a return on equity of 15.51%. The firm had revenue of $27.98 million for the quarter, compared to analysts’ expectations of $28.10 million. Sell-side analysts predict that Orange County Bancorp, Inc. will post 2.83 EPS for the current fiscal year.

Orange County Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is a positive change from Orange County Bancorp’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 2.05%. Orange County Bancorp’s dividend payout ratio is 21.58%.

Hedge Funds Weigh In On Orange County Bancorp

A number of large investors have recently modified their holdings of OBT. Wells Fargo & Company MN lifted its holdings in shares of Orange County Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock worth $167,000 after acquiring an additional 652 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Orange County Bancorp in the fourth quarter worth $46,000. Public Employees Retirement System of Ohio purchased a new stake in Orange County Bancorp during the fourth quarter valued at about $60,000. Two Sigma Investments LP grew its stake in shares of Orange County Bancorp by 25.7% during the fourth quarter. Two Sigma Investments LP now owns 5,294 shares of the company’s stock valued at $294,000 after buying an additional 1,084 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Orange County Bancorp by 52.5% in the fourth quarter. Renaissance Technologies LLC now owns 6,100 shares of the company’s stock worth $339,000 after buying an additional 2,100 shares during the period. 42.55% of the stock is owned by hedge funds and other institutional investors.

About Orange County Bancorp

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.