Wall Street Zen Downgrades Orange County Bancorp (NASDAQ:OBT) to Hold

Orange County Bancorp (NASDAQ:OBT) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

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

Orange County Bancorp Trading Down 0.7%

Shares of OBT opened at $30.94 on Friday. The firm has a market cap of $413.67 million, a P/E ratio of 9.32 and a beta of 0.42. 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 has a 1 year low of $20.97 and a 1 year high of $37.99. The company has a 50 day simple moving average of $32.14 and a two-hundred day simple moving average of $28.43.

Orange County Bancorp (NASDAQ:OBT) last released its earnings results 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 firm had revenue of $33.03 million for the quarter, compared to the consensus estimate of $31.40 million. On average, equities analysts expect that Orange County Bancorp will post 2.83 earnings per share for the current fiscal year.

Institutional Trading of Orange County Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Orange County Bancorp by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 10,666 shares of the company’s stock worth $269,000 after purchasing an additional 476 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Orange County Bancorp by 0.4% during the second quarter. American Century Companies Inc. now owns 124,512 shares of the company’s stock valued at $3,217,000 after buying an additional 516 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Orange County Bancorp by 8.1% in the third quarter. Rhumbline Advisers now owns 10,600 shares of the company’s stock worth $267,000 after buying an additional 793 shares during the period. CWM LLC raised its holdings in shares of Orange County Bancorp by 174.5% in the third quarter. CWM LLC now owns 1,356 shares of the company’s stock worth $34,000 after buying an additional 862 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Orange County Bancorp by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 20,268 shares of the company’s stock worth $524,000 after acquiring an additional 862 shares during the last quarter. Institutional investors 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.