BUZZ-Orange County Bancorp surges after Hovde Group starts coverage with an 'outperform' rating

Reuters

May 13

BUZZ-<a href="https://laohu8.com/S/FNCTF">Orange</a> County Bancorp surges after Hovde Group starts coverage with an 'outperform' rating

** Shares of community lender Orange County Bancorp OBT.O jump as much as 8.3%; last up 3.2% at $26.62

** Brokerage Hovde Group initiates coverage with "outperform" rating and PT of $30.50, an 18% upside to stock's last close

** Brokerage expects OBT shares to outperform peers, as investors recognize the bank's strong fundamentals

** Says OBT has "valuable base core deposits and relative franchise scarcity in the middle-to-lower Hudson Valley"

** OBT's expansion south into the Lower Hudson Valley in recent years provides ample opportunities to grow loans and deposits as well as wealth & trust offerings - Hovde

** All three brokerages covering OBT rate the stock "buy" or higher; with a median PT of $30.50, according to data compiled by LSEG

** As of last close, OBT stock down 7.1% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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last up 3.2% at $26.62</p><p>** <span>Brokerage Hovde Group</span> initiates coverage with \"outperform\" rating and PT of $30.50, an 18% upside to stock's last close</p><p>** Brokerage expects OBT shares to outperform peers, as investors recognize the bank's strong fundamentals</p><p>** Says OBT has \"valuable base core deposits and relative franchise scarcity in the middle-to-lower Hudson Valley\"</p><p>** OBT's expansion south into the Lower Hudson Valley in recent years provides ample opportunities to grow loans and deposits as well as wealth &amp; trust offerings <span>- Hovde</span></p><p>** All three brokerages covering OBT rate the stock \"buy\" or higher; with a median PT of $30.50, according to data compiled by LSEG</p><p>** As of last close, OBT stock down 7.1% YTD</p><p>(Reporting by Arasu Kannagi Basil in Bengaluru)</p><p>((ArasuKannagi.Basil@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OBT","symbol_name":"Orange County Bancorp Inc","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250512:nL6N3RK0P1:1","article_id":"2535118783","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2535118783","pubTimestamp":1747076028,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Orange County Bancorp surges after Hovde Group starts coverage with an 'outperform' rating** Shares of community lender Orange County Bancorp OBT.O jump as much as 8.3%; 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last up 3.2% at $26.62** Brokerage Hovde Group initiates coverage with \"outperform\" rating and PT of $30.50, an 18% upside to stock's last close** Brokerage expects OBT shares to outperform peers, as investors recognize the bank's strong fundamentals** Says OBT has \"valuable base core deposits and relative franchise scarcity in the middle-to-lower Hudson Valley\"** OBT's expansion south into the Lower Hudson Valley in recent years provides ample opportunities to grow loans and deposits as well as wealth & trust offerings - Hovde** All three brokerages covering OBT rate the stock \"buy\" or higher; with a median PT of $30.50, according to data compiled by LSEG** As of last close, OBT stock down 7.1% YTD(Reporting by Arasu Kannagi Basil in Bengaluru)((ArasuKannagi.Basil@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}