Orange County Bancorp (NASDAQ:OBT) Rating Lowered to Hold at Wall Street Zen
by Sarita Garza · The Markets DailyOrange County Bancorp (NASDAQ:OBT – Get Free Report) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other analysts have also recently issued reports on the company. Hovde Group increased their target price 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. Weiss Ratings upgraded Orange County Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $36.00 price objective (up from $32.00) on shares of Orange County Bancorp in a research report on Thursday, February 5th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.
View Our Latest Research Report on Orange County Bancorp
Orange County Bancorp Price Performance
Shares of OBT opened at $30.94 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50 day moving average price of $32.14 and a 200-day moving average price of $28.45. Orange County Bancorp has a fifty-two week low of $20.97 and a fifty-two week high of $37.99. The stock has a market capitalization of $413.67 million, a PE ratio of 9.32 and a beta of 0.42.
Orange County Bancorp (NASDAQ:OBT – Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.18. The company had revenue of $33.03 million for the quarter, compared to analyst estimates of $31.40 million. Orange County Bancorp had a net margin of 26.32% and a return on equity of 16.51%. Equities analysts predict that Orange County Bancorp will post 2.83 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Orange County Bancorp
Large investors have recently made changes to their positions in the business. Azora Capital LP acquired a new stake in shares of Orange County Bancorp in the 2nd quarter worth $1,292,000. Fourthstone LLC acquired a new position in Orange County Bancorp during the 2nd quarter valued at about $6,210,000. Gator Capital Management LLC purchased a new stake in Orange County Bancorp in the second quarter valued at about $517,000. Endeavour Capital Advisors Inc. purchased a new stake in Orange County Bancorp in the second quarter valued at about $5,121,000. Finally, EJF Capital LLC acquired a new stake in Orange County Bancorp in the second quarter worth about $2,944,000. 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.