In a recent transaction on May 3, Michael Listner, the Senior Vice President and Chief Compliance Officer (SVP and CCO) of Orange County Bancorp (NASDAQ:ICBK), Inc. /DE/ (NASDAQ:OBT), sold 264 shares of the company's common stock at a price of $50.0 per share, totaling $13,200.
The transaction was disclosed in a filing with the Securities and Exchange Commission. Following the sale, Listner's direct ownership in the company stands at 3,781 shares. It should be noted that his holdings include various tranches of restricted stock which vest over a period of time, starting from February 15, 2022, to March 21, 2025.
Orange County Bancorp, based in Middletown, NY, operates as a state commercial bank and is incorporated in Delaware. The sale by Listner represents a part of the ongoing financial activities within the company's executive team and is reported in compliance with SEC regulations.
Investors and stakeholders in Orange County Bancorp can access more detailed information about the company's insider transactions through the SEC's filing system. The company's stock trades on the NASDAQ under the ticker symbol OBT.
InvestingPro Insights
Orange County Bancorp, Inc. /DE/ (NASDAQ:OBT) has been displaying a notable performance in the market, which is reflected in its recent metrics and investor returns. According to InvestingPro data, the company has a market capitalization of $278.63 million and has achieved a significant return over the past week, with a 1-week price total return of 20.92%. This momentum is also seen over longer periods, with a 1-year price total return of 65.85%.
For those evaluating the company's valuation metrics, Orange County Bancorp's price-to-earnings (P/E) ratio stands at 8.02, which is considered low relative to its near-term earnings growth. This is further supported by a PEG ratio of just 0.14 for the last twelve months as of Q1 2024, suggesting that the stock may be undervalued when factoring in its earnings growth potential. An InvestingPro Tip highlights that analysts predict the company will be profitable this year, which is consistent with the company's performance over the last twelve months.
Investors interested in dividend consistency will be pleased to know that OBT has maintained dividend payments for 17 consecutive years, with a current dividend yield of 1.76%. This track record of returning value to shareholders adds a layer of investment appeal, especially for income-focused portfolios.
To gain deeper insights into Orange County Bancorp's performance and future outlook, interested parties can explore additional InvestingPro Tips available on the platform. For those considering a subscription, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are currently 5 more InvestingPro Tips listed for OBT that can further guide investment decisions.
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