Orange County Bancorp (OBT)


Market Price (11/6/2026): $39.83 | Market Cap: $534.2 MilSector: Financials | Industry: Regional Banks

Orange County Bancorp (OBT)


Market Price (11/6/2026): $39.83
Market Cap: $534.2 Mil
Sector: Financials
Industry: Regional Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.4%, FCF Yield is 12%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -77%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 53%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 51%

Low stock price volatility
Vol 12M is 26%

Megatrend and thematic drivers
Megatrends include Localized Financial Services. Themes include Community Lending, Regional Economic Support, and Personalized Banking Services.

Trading close to highs
Dist 52W High is -1.4%, Dist 3Y High is -1.4%

Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -14%

Key risks
OBT key risks include [1] increased borrower defaults on its adjustable-rate loans if interest rates rise and [2] potential credit losses from its higher-risk consumer loan portfolio.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.4%, FCF Yield is 12%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -77%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 53%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 51%
3 Low stock price volatility
Vol 12M is 26%
4 Megatrend and thematic drivers
Megatrends include Localized Financial Services. Themes include Community Lending, Regional Economic Support, and Personalized Banking Services.
5 Trading close to highs
Dist 52W High is -1.4%, Dist 3Y High is -1.4%
6 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -14%
7 Key risks
OBT key risks include [1] increased borrower defaults on its adjustable-rate loans if interest rates rise and [2] potential credit losses from its higher-risk consumer loan portfolio.

OBT in ETFs

Weight = OBT's share of each fund

VTI0.00%
IWM0.02%
AVUV0.04%
IWN0.02%
VTWO0.02%
IWO0.01%
DFAS0.01%
IWV0.00%
+1 more covered ETF

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/1/2026

Orange County Bancorp (OBT) stock has gained about 5% since 7/31/2026 because of the following key factors:

1. Orange County Bancorp reported record fiscal Q3 2026 earnings, surpassing analyst expectations. The company announced net income of $12.5 million for the fiscal quarter ended September 30, 2026, a 24.6% increase from $10.0 million in fiscal Q3 2025. Earnings per share (EPS) reached $0.93, exceeding the consensus estimate of $0.8170 to $0.84 per share. Revenue for the quarter was $35.30 million, also beating the estimated $33.50 million. This marked the company's third consecutive quarter of record earnings in 2026.

2. The company experienced a significant expansion in its Net Interest Margin (NIM). For fiscal Q3 2026, the net interest margin increased by 19 basis points to 4.45% from 4.26% in the same period last year. This expansion contributed to an 11.0% rise in net interest income, which reached $29.9 million, up $2.9 million from fiscal Q3 2025. The improvement was partially attributed to a reduction in borrowing costs due to successful deposit growth and the elimination of high-cost brokered deposits.

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Updated on 11/1/2026

Orange County Bancorp (OBT) stock has gained about 5% since 7/31/2026 because of the following key factors:

1. Orange County Bancorp reported record fiscal Q3 2026 earnings, surpassing analyst expectations. The company announced net income of $12.5 million for the fiscal quarter ended September 30, 2026, a 24.6% increase from $10.0 million in fiscal Q3 2025. Earnings per share (EPS) reached $0.93, exceeding the consensus estimate of $0.8170 to $0.84 per share. Revenue for the quarter was $35.30 million, also beating the estimated $33.50 million. This marked the company's third consecutive quarter of record earnings in 2026.

2. The company experienced a significant expansion in its Net Interest Margin (NIM). For fiscal Q3 2026, the net interest margin increased by 19 basis points to 4.45% from 4.26% in the same period last year. This expansion contributed to an 11.0% rise in net interest income, which reached $29.9 million, up $2.9 million from fiscal Q3 2025. The improvement was partially attributed to a reduction in borrowing costs due to successful deposit growth and the elimination of high-cost brokered deposits.

3. Orange County Bancorp demonstrated strong deposit and loan growth. Total deposits grew by $56.0 million, or 2.4%, reaching $2.4 billion at September 30, 2026, compared to $2.3 billion at September 30, 2025. Concurrently, total loans, including loans held-for-sale, increased to $2.0 billion at September 30, 2026, from $1.9 billion at September 30, 2025.

4. Positive analyst sentiment and increased price targets bolstered investor confidence. During the period, at least one analyst upgraded Orange County Bancorp's stock, and Piper Sandler initiated coverage with an "Overweight" rating and a $44 price target on September 4, 2026. The consensus rating for OBT remained a "Strong Buy," with an average price target of $43.25, indicating an approximately 11.8% upside from the stock's price on October 31, 2026.

5. Favorable macroeconomic conditions within the regional banking sector contributed to the positive trend. Despite a generally challenging macroeconomic environment, the regional banking sector, including Orange County Bancorp, exhibited stable or growing earnings in fiscal Q3 2026. Regional banks, in particular, benefited from strong commercial loan demand. The broader American economy continued to expand, with strong corporate earnings reported across sectors.

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Stock Movement Drivers

Fundamental Drivers

The 4.7% change in OBT stock from 7/31/2026 to 11/5/2026 was primarily driven by a 11.2% change in the company's Net Income Margin (%).
(LTM values as of)731202611052026Change
Stock Price ($)38.0739.864.7%
Change Contribution By: 
Total Revenues ($ Mil)131127-3.5%
Net Income Margin (%)33.7%37.4%11.2%
P/E Multiple11.511.3-2.1%
Shares Outstanding (Mil)1313-0.2%
Cumulative Contribution4.7%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/5/2026
ReturnCorrelation
OBT4.7% 
Market (SPY)-1.9%8.4%
Sector (XLF)1.0%56.6%

Fundamental Drivers

The 18.1% change in OBT stock from 4/30/2026 to 11/5/2026 was primarily driven by a 14.4% change in the company's Net Income Margin (%).
(LTM values as of)430202611052026Change
Stock Price ($)33.7639.8618.1%
Change Contribution By: 
Total Revenues ($ Mil)127127-0.4%
Net Income Margin (%)32.7%37.4%14.4%
P/E Multiple10.811.33.9%
Shares Outstanding (Mil)1313-0.2%
Cumulative Contribution18.1%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/5/2026
ReturnCorrelation
OBT18.1% 
Market (SPY)2.3%3.8%
Sector (XLF)10.7%46.3%

Fundamental Drivers

The 66.7% change in OBT stock from 10/31/2025 to 11/5/2026 was primarily driven by a 45.6% change in the company's Net Income Margin (%).
(LTM values as of)1031202511052026Change
Stock Price ($)23.9139.8666.7%
Change Contribution By: 
Total Revenues ($ Mil)11512710.2%
Net Income Margin (%)25.7%37.4%45.6%
P/E Multiple9.711.315.9%
Shares Outstanding (Mil)1213-10.4%
Cumulative Contribution66.7%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/5/2026
ReturnCorrelation
OBT66.7% 
Market (SPY)8.4%16.4%
Sector (XLF)11.1%44.1%

Fundamental Drivers

The 92.0% change in OBT stock from 10/31/2023 to 11/5/2026 was primarily driven by a 40.8% change in the company's P/E Multiple.
(LTM values as of)1031202311052026Change
Stock Price ($)20.7639.8692.0%
Change Contribution By: 
Total Revenues ($ Mil)9512732.8%
Net Income Margin (%)30.7%37.4%22.1%
P/E Multiple8.011.340.8%
Shares Outstanding (Mil)1113-15.9%
Cumulative Contribution92.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/5/2026
ReturnCorrelation
OBT92.0% 
Market (SPY)81.3%35.7%
Sector (XLF)85.5%43.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
OBT Return49%18%32%-6%5%42%226%
Peers Return24%18%11%11%5%40%166%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
OBT Win Rate83%42%67%50%50%73% 
Peers Win Rate62%53%45%52%50%69% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
OBT Max Drawdown-11%-23%-46%-28%-23%-14% 
Peers Max Drawdown-18%-19%-38%-22%-21%-12% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: GCBC, TMP, AROW, NBTB, TRST.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/5/2026 (YTD)

How Low Can It Go

EventOBTS&P 500
2025 US Tariff Shock
  % Loss-18.4%-18.8%
  % Gain to Breakeven22.5%23.1%
  Time to Breakeven21 days79 days
2023 SVB Regional Banking Crisis
  % Loss-43.2%-6.7%
  % Gain to Breakeven76.0%7.1%
  Time to Breakeven223 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-19.2%-24.5%
  % Gain to Breakeven23.7%32.4%
  Time to Breakeven63 days427 days
2020 COVID-19 Crash
  % Loss-19.8%-33.7%
  % Gain to Breakeven24.7%50.9%
  Time to Breakeven330 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-16.1%-19.2%
  % Gain to Breakeven19.3%23.8%
  Time to Breakeven55 days105 days
2008-2009 Global Financial Crisis
  % Loss-29.0%-53.4%
  % Gain to Breakeven40.8%114.4%
  Time to Breakeven2365 days1085 days

Compare to GCBC, TMP, AROW, NBTB, TRST

In The Past

Orange County Bancorp's stock fell -18.4% during the 2025 US Tariff Shock. Such a loss loss requires a 22.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventOBTS&P 500
2023 SVB Regional Banking Crisis
  % Loss-43.2%-6.7%
  % Gain to Breakeven76.0%7.1%
  Time to Breakeven223 days31 days
2008-2009 Global Financial Crisis
  % Loss-29.0%-53.4%
  % Gain to Breakeven40.8%114.4%
  Time to Breakeven2365 days1085 days

Compare to GCBC, TMP, AROW, NBTB, TRST

In The Past

Orange County Bancorp's stock fell -18.4% during the 2025 US Tariff Shock. Such a loss loss requires a 22.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Orange County Bancorp (OBT)

Orange County Bancorp, Inc. (OBT) is a financial services company operating primarily in New York, offering a blend of traditional commercial and consumer banking services alongside specialized trust and wealth management solutions. Founded in 1892 and headquartered in Middletown, NY, the company caters to a diverse clientele including small and middle-market businesses, local municipal governments, and affluent individuals.

The core banking offerings encompass a full suite of deposit products, ranging from interest-bearing and noninterest-bearing demand accounts to money market, savings, and certificates of deposit, designed to meet various client needs. On the lending side, OBT provides commercial real estate loans, commercial and industrial loans, and construction loans for businesses, complemented by residential real estate, home equity, and general consumer loans for individuals.

Beyond banking, OBT extends its services into comprehensive trust and wealth management, including traditional trust and administration, asset management, financial planning, and broader wealth management services for its affluent customer base. The company operates a network of 14 full-service branches and one loan production office strategically located across Orange, Westchester, Rockland, and Bronx counties in New York, focusing on its local community markets.

AI Analysis | Feedback

Here are 1-3 brief analogies for Orange County Bancorp (OBT):

  • Like a localized KeyCorp for New York's Hudson Valley and surrounding counties.
  • A community-focused M&T Bank for the Orange and Westchester county regions of New York.

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  • Deposit Services

    Offers various interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.

  • Loan Services

    Provides commercial real estate loans, commercial and industrial loans, construction loans, residential real estate loans, home equity loans, and consumer loans.

  • Trust and Wealth Management Services

    Delivers traditional trust and administration, asset management, financial planning, and wealth management services.

AI Analysis | Feedback

Orange County Bancorp (OBT) serves a diverse customer base that includes both commercial entities and individuals. For a regional bank of this nature, specific customer company names are typically not publicly disclosed. Therefore, its major customers are best identified by categories. Based on the company description, Orange County Bancorp serves the following major categories of customers:
  1. Small and Middle-Market Businesses: These include various enterprises that utilize the company's commercial banking products and services, such as commercial real estate loans, commercial and industrial loans, and commercial real estate construction loans.
  2. Local Municipal Governments: These are local governmental entities that also avail themselves of the company's commercial banking products and services.
  3. Affluent Individuals: This segment utilizes consumer banking products and services, including residential real estate loans, home equity loans, and consumer loans, as well as trust and wealth management services.

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Michael Gilfeather President, Chief Executive Officer & Director

Mr. Gilfeather has served as President and Chief Executive Officer of Orange County Bancorp, Inc. and the Bank since April 2014, and as a Director since 2014, bringing over 35 years of experience to his role. Prior to joining Orange County Bancorp, he was Chief Administrative Officer at Hudson Valley Bank, where he oversaw the branch network, training and development, human resources, and the trust department. Before Hudson Valley Bank, Mr. Gilfeather spent 20 years with The Bank of New York, serving as the Senior Manager for all retail banking in Manhattan. He also serves as a director of Hudson Valley Investment Advisors, a wholly owned subsidiary of Orange County Bancorp, Inc.

Michael Lesler Executive Vice President, Chief Financial Officer

Mr. Lesler was appointed Senior Vice President and Chief Financial Officer in March 2023, and subsequently Executive Vice President and CFO in December 2023. He joined Orange County Bancorp in December 2021 as SVP, Controller and Chief Accounting Officer. Mr. Lesler has over 20 years of experience in the banking industry. His previous roles include Executive Vice President and Chief Operating Officer for BCB Bancorp, Inc. from 2018 to 2021, and the same position at Clifton Bancorp, Inc. from 2016 to 2018. He also served as Chief Financial Officer, and later President and Chief Executive Officer, at Bank of New Jersey for 11 years.

Michael Coulter Executive Vice President, Strategic Lending Relationship Executive

Mr. Coulter joined Orange Bank & Trust in April 2017 as Senior Vice President and Chief Lending Officer and was promoted to Executive Vice President and Chief Lending Officer in February 2019. He has over 35 years of experience in banking. Prior to joining Orange County Bancorp, Mr. Coulter served as Executive Vice President of Metropolitan Bank in Manhattan. He also held progressively more senior positions at BBVA Compass Bank, Sun National Bank, Citizens, and Key Bank.

David Dineen Executive Vice President, Managing Director of Wealth Management

Mr. Dineen serves as the Managing Director of Wealth Management, leading Orange Wealth Management, which combines the company's asset management division with its trust and private banking services. He was hired in February 2022 and has successfully overseen the bank's trust and private banking divisions. Mr. Dineen has over 30 years of experience in banking and wealth management.

Elizabeth Jones Executive Vice President, Chief Operating Officer

Ms. Jones joined Orange Bank & Trust in 2016 as 1st Vice President, Director of Branch and Deposit Operations. She was promoted to Director of Operations in 2021 and oversees all bank and loan operations, including compliance and facilities. Before joining Orange Bank & Trust, Ms. Jones spent 20 years at Sterling National Bank, where she held various roles, most recently as 1st Vice President, Sales and Service Administration.

AI Analysis | Feedback

The key risks to Orange County Bancorp's (OBT) business primarily revolve around credit quality, profitability, and interest rate fluctuations.

  1. Credit Risk from Increasing Non-Performing Loans: The company has experienced an increase in non-performing loans. As of September 30, 2025, total non-performing loans reached $12.2 million, or 0.63% of total loans, which is an increase from $6.3 million at December 31, 2024. This rise indicates ongoing payment disruptions across various loans and necessitates a modest increase in the allowance for credit losses.
  2. Profit Margin Compression: Orange County Bancorp has seen its net profit margin decline, slipping to 28% from 33.7% in the previous year. Despite a strong five-year annual earnings growth rate, this compression in margins introduces a layer of caution for investors and suggests a challenge in maintaining consistent profitability and operating leverage, with recent results indicating slower projected growth compared to broader market benchmarks.
  3. Interest Rate Policy Risks: The banking sector is inherently sensitive to changes in interest rates. Orange County Bancorp acknowledges the need for prudent underwriting standards due to uncertain interest rate policy risks. The company's CEO noted that while Federal Reserve guidance and a rate cut could exert downward pressure on rates, the team remains focused on managing through such conditions. This highlights the ongoing exposure to interest rate fluctuations and their potential impact on net interest income.

AI Analysis | Feedback

The clear emerging threat to Orange County Bancorp is the ongoing digital transformation of the banking industry and the rise of digital-first financial technology (fintech) companies and neobanks.

Orange County Bancorp operates a traditional, branch-based model with 14 full-service branches. Digital-first competitors, including online-only banks, fintech lending platforms, and digital wealth management services, offer consumers and businesses increasingly convenient, lower-cost, and often higher-yield alternatives to traditional banking products. These digital disruptors leverage technology to provide seamless user experiences, faster loan approvals, and competitive rates on deposits and loans, often without the overhead of physical branches. This trend directly threatens OBT's ability to attract and retain customers for its deposit products, commercial and consumer loans, and wealth management services, particularly among younger demographics and those who prioritize digital convenience over in-person service.

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Addressable Markets for Orange County Bancorp's Main Products and Services

Commercial and Consumer Banking Products and Services

  • Deposits:
    • Bronx County, New York: Approximately $17.4 billion
    • Orange County, New York: Approximately $10.8 billion
    • New York State Total Deposits: Exceed $3.4 trillion
  • Loans:
    • New York State Commercial Real Estate (CRE) Exposure: $450 billion
    • New York State Total Mortgage Originations (2023): $85 billion
    • New York State Small Business Loans (under $1M, 2023): $18 billion
    • U.S. Retail Banking Market (including consumer loans, 2026): Valued at $0.91 trillion, projected to reach $1.11 trillion by 2031

Trust and Wealth Management Services

  • New York Metropolitan Statistical Area (MSA): 720,000 high-net-worth individuals with $1 million or more in investable assets (as of 2011)
  • Westchester and Fairfield County (Soundview Market): One firm, Morgan Stanley, manages over $30 billion in assets for clients
  • Global Wealth Management Market Size (2024): Estimated at approximately USD 1636.83 billion, projected to grow to around USD 4893.17 billion by 2034
  • North America Wealth Management Platform Market (2024): Valued at $7.5 billion

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Orange County Bancorp (OBT) over the next 2-3 years:

  1. Loan Growth: Orange County Bancorp has demonstrated strong loan portfolio expansion, with total loans increasing by 7.4% to $2.0 billion by December 31, 2025, from $1.8 billion at year-end 2024. This growth is driven by increased economic activity in the regions served by the bank and is expected to continue contributing significantly to future net interest income.
  2. Net Interest Margin (NIM) Expansion/Stability: The company reported a notable improvement in its Net Interest Margin, which grew by 35 basis points to 4.18% for the full year 2025 and by 66 basis points to 4.44% for the fourth quarter of 2025, compared to the same periods in the prior year. Sustaining or further expanding this margin will directly enhance net interest income, a primary component of the bank's revenue.
  3. Growth in Trust and Investment Advisory Income (Wealth Management): Trust and investment advisory income saw a substantial increase of 15.2% to $14.1 million for the year ended December 31, 2025. This growth is attributed to favorable equity market returns and strategic initiatives, such as the "private bank initiative," which has been successful in attracting new customers and assets. Continued focus on wealth management services and client acquisition is expected to drive non-interest income.
  4. Deposit Growth: Total deposits increased by 7.3% to $2.3 billion at December 31, 2025, compared to $2.2 billion at the end of 2024. While deposits are a liability, sustained growth in deposits provides a stable funding base for loan origination and can help manage funding costs, thereby indirectly supporting revenue growth through net interest income.

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Share Issuance

  • In June 2025, Orange County Bancorp completed an underwritten public offering of 1,720,430 shares of its common stock at $23.25 per share, generating approximately $40.0 million in gross proceeds before discounts and expenses.
  • Concurrently, the underwriters exercised their overallotment option, resulting in the sale of an additional 258,064 shares of common stock at the same price, which brought approximately $5.7 million in additional expected proceeds.
  • In August 2021, the company raised $30 million through an initial public offering (IPO), issuing 900,000 shares at a price range of $32.00-$35.00 per share.

Outbound Investments

  • In January 2026, Orange Bank & Trust announced a strategic investment in lending operations within the Mid-Hudson Valley.
  • The company plans to use net proceeds from its June 2025 public offering for general corporate purposes, which may include investments in Orange Bank & Trust Company to support continued growth, augment regulatory capital and liquidity, and potentially fund strategic acquisitions.

Peer Outperformance in Regional Banks

OBT has outperformed 92% of its 262 Regional Banks peers over 5Y. Regional Banks ranks 8th of 18 industries in Financials by median 5Y return.
Share of Regional Banks constituents that OBT has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
90%
of 281 industry peers · 57.2% return
3Y
58%
of 273 industry peers · 96.1% return
5Y
92%
of 262 industry peers · 132.6% return
No Regional Banks peer with a comparable growth profile has beaten OBT by more than 20pp over 5Y.
Median price return by industry across the Financials sector, ranked by 5Y. Regional Banks is OBT's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 33.1%75.7%125.1% SPNT 168% · RGA 162% · RNR 141%
Investment Banking & Brokerage 13 -3.9%89.1%93.1% IBKR 305% · SNEX 152% · GS 141%
Diversified Banks 12 30.0%140.4%90.3% CM 144% · RY 129% · JPM 127%
Life & Health Insurance 20 14.3%52.3%75.4% JXN 514% · UNM 224% · FG 188%
Property & Casualty Insurance 42 18.9%76.8%66.8% TRV 178% · PGR 172% · ACGL 168%
Multi-Sector Holdings 3 10.1%53.8%59.4% BRK-B 99% · VOYA 59% · JEF 37%
Multi-line Insurance 9 9.5%71.4%59.4% AIZ 105% · GNW 104% · L 98%
Regional Banks ← 263 30.0%87.5%46.7% CBC 268% · FCNCA 176% · NIC 136%
Insurance Brokers 15 5.5%13.4%33.4% LIFE 287% · ARX 89% · WTW 56%
Financial Exchanges & Data 15 20.6%37.2%27.9% CBOE 183% · VIRT 131% · CME 71%
Asset Management & Custody Banks 83 -5.9%22.8%12.3% VCTR 210% · AAMI 207% · WT 205%
Consumer Finance 30 2.9%81.0%8.1% ENVA 330% · FCFS 130% · ECPG 111%
Commercial & Residential Mortgage Finance 14 -46.5%36.8%2.5% FNMA 327% · FMCC 293% · ACT 158%
Diversified Financial Services 4 -1.6%20.1%-1.1% FRHC 153% · EQH 71%
Specialized Finance 3 15.8%31.5%-19.7% HASI -20% · CACC -24%
Transaction & Payment Processing Services 17 19.3%9.1%-29.4% V 103% · MA 94% · CPAY 83%
Mortgage REITs 35 -18.0%-6.1%-37.2% RITM 36% · DX 17% · AGNC 10%
Diversified Capital Markets 20 -47.1%-8.5%-70.1% LPLA 83% · TW 38% · RIOT -53%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Title
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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

OBTGCBCTMPAROWNBTBTRSTMedian
NameOrange C.Greene C.Tompkins.Arrow Fi.NBT Banc.Trustco . 
Mkt Price39.8335.88100.0538.5952.9556.5446.39
Mkt Cap0.50.61.40.62.81.00.8
Rev LTM12793263175740197186
Op Inc LTM-------
FCF LTM654250452466055
FCF 3Y Avg413176281965447
CFO LTM674259522626963
CFO 3Y Avg433283342106252

Growth & Margins

OBTGCBCTMPAROWNBTBTRSTMedian
NameOrange C.Greene C.Tompkins.Arrow Fi.NBT Banc.Trustco . 
Rev Chg LTM10.2%22.9%-19.0%16.9%19.4%10.2%13.6%
Rev Chg 3Y Avg9.9%9.1%8.3%7.2%13.3%-0.9%8.7%
Rev Chg Q-14.3%22.0%2.8%10.1%9.1%10.5%9.6%
QoQ Delta Rev Chg LTM-3.5%5.1%0.9%2.4%2.1%2.6%2.3%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM52.8%45.7%22.4%29.7%35.4%35.1%35.2%
CFO/Rev 3Y Avg36.3%40.4%28.0%21.3%32.7%33.8%33.3%
FCF/Rev LTM51.1%44.9%18.9%25.5%33.2%30.3%31.8%
FCF/Rev 3Y Avg34.7%39.1%25.7%17.3%30.6%29.4%30.0%

Valuation

OBTGCBCTMPAROWNBTBTRSTMedian
NameOrange C.Greene C.Tompkins.Arrow Fi.NBT Banc.Trustco . 
Mkt Cap0.50.61.40.62.81.00.8
P/S4.26.65.43.63.75.04.6
P/Op Inc-------
P/EBIT-------
P/E11.214.97.912.412.915.012.6
P/CFO8.014.424.112.210.514.213.2
Total Yield10.6%7.4%15.5%11.2%10.6%9.5%10.6%
Dividend Yield1.7%0.7%2.7%3.1%2.8%2.8%2.8%
FCF Yield 3Y Avg10.8%6.3%8.0%5.2%9.0%7.9%7.9%
D/E0.10.30.30.50.10.10.2
Net D/E-0.8-0.6-0.5-0.6-0.1-0.1-0.6

Returns

OBTGCBCTMPAROWNBTBTRSTMedian
NameOrange C.Greene C.Tompkins.Arrow Fi.NBT Banc.Trustco . 
1M Rtn6.2%4.4%2.3%3.7%4.5%2.6%4.1%
3M Rtn4.2%4.3%0.9%-2.7%0.9%1.2%1.0%
6M Rtn14.7%50.6%18.4%5.8%19.4%18.4%18.4%
12M Rtn57.0%60.2%51.6%28.8%31.2%49.8%50.7%
3Y Rtn96.0%49.6%108.1%82.6%62.5%131.3%89.3%
1M Excs Rtn8.9%6.4%4.8%6.9%7.0%5.7%6.7%
3M Excs Rtn4.5%5.0%2.2%-0.4%2.2%4.2%3.2%
6M Excs Rtn9.9%45.9%13.6%1.0%14.6%13.6%13.6%
12M Excs Rtn48.7%50.7%45.0%18.6%20.9%38.7%41.9%
3Y Excs Rtn8.6%-25.2%40.7%20.5%-8.8%67.5%14.6%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Banking11395918163
Wealth Management141210910
Total1271081029073


Net Income by Segment
$ Mil20252024202320222021
Banking3825272319
Wealth Management42222
Total4228292421


Assets by Segment
$ Mil20252024202320222021
Banking2,6492,5002,4772,2792,133
Wealth Management1110989
Total2,6592,5102,4852,2872,143


Price Behavior

Price Behavior
Market Price$39.86 
Market Cap ($ Bil)0.5 
First Trading Date10/04/2007 
Distance from 52W High-1.4% 
   50 Days200 Days
DMA Price$37.91$35.43
DMA Trendindeterminateup
Distance from DMA5.1%12.5%
 3M1YR
Volatility19.2%25.5%
Downside Capture-27.3514.43
Upside Capture2.5971.10
Correlation (S&P 500)-6.3%16.0%
OBT Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta-0.27-0.17-0.07-0.030.300.98
Up Beta-0.93-1.420.08-0.330.221.13
Down Beta-0.45-0.41-0.50-0.43-0.071.02
Up Capture25%17%4%31%66%67%
Bmk +ve Days12182862130427
Stock +ve Days13223573144398
Down Capture-48%-3%-5%2%21%94%
Bmk -ve Days10253664121325
Stock -ve Days9192649102344

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OBT
OBT62.7%25.5%1.85-
Sector ETF (XLF)11.1%15.2%0.4744.2%
Equity (SPY)9.5%13.6%0.4116.9%
Gold (GLD)3.6%28.7%0.11-1.7%
Commodities (DBC)37.7%21.2%1.40-31.8%
Real Estate (VNQ)12.0%14.2%0.5540.1%
Bitcoin (BTCUSD)-20.8%43.3%-0.42-3.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OBT
OBT16.6%41.5%0.50-
Sector ETF (XLF)9.1%18.4%0.3632.2%
Equity (SPY)11.3%17.3%0.4825.8%
Gold (GLD)17.5%19.1%0.740.1%
Commodities (DBC)8.0%19.6%0.292.5%
Real Estate (VNQ)1.2%18.9%-0.0528.6%
Bitcoin (BTCUSD)5.9%51.5%0.2911.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OBT
OBT8.7%39.0%0.46-
Sector ETF (XLF)13.3%22.1%0.5423.0%
Equity (SPY)14.9%18.0%0.7020.3%
Gold (GLD)12.0%16.5%0.590.7%
Commodities (DBC)7.6%18.1%0.333.3%
Real Estate (VNQ)5.7%20.7%0.2321.3%
Bitcoin (BTCUSD)61.3%66.2%1.019.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 930202610.5%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest2.1 days
Basic Shares Quantity13.4 Mil
Short % of Basic Shares1.1%

Earnings Returns History

Updated 11/6/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/20261.3%6.1% 
7/28/2026-0.8%-0.2%-2.7%
4/28/2026-6.1%-5.9%-5.6%
2/4/20264.6%7.4%-2.8%
10/30/20252.9%7.0%13.5%
7/30/2025-1.8%-7.7%4.2%
4/30/20252.4%8.5%7.8%
2/5/2025-1.1%-4.5%-12.0%
...
SUMMARY STATS   
# Positive111113
# Negative11118
Median Positive2.4%6.1%7.2%
Median Negative-4.3%-4.5%-6.0%
Max Positive8.2%9.0%13.5%
Max Negative-9.7%-17.3%-12.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/20261.3%6.1% 
7/28/2026-0.8%-0.2%-2.7%
4/28/2026-6.1%-5.9%-5.6%
2/4/20264.6%7.4%-2.8%
10/30/20252.9%7.0%13.5%
7/30/2025-1.8%-7.7%4.2%
4/30/20252.4%8.5%7.8%
2/5/2025-1.1%-4.5%-12.0%
10/30/2024-7.3%7.4%4.5%
7/31/2024-9.7%-17.3%-4.6%
5/1/20248.2%3.9%7.2%
2/1/2024-8.3%-12.0%-10.8%
10/25/20234.6%3.7%11.4%
7/26/20237.4%9.0%10.8%
5/1/2023-6.5%-6.9%-8.6%
1/25/2023-1.2%-1.1%10.1%
10/25/20221.5%5.5%11.9%
8/1/2022-1.8%4.8%5.6%
4/27/2022-4.3%-0.4%-6.5%
1/27/20221.7%0.5%1.5%
10/25/20210.6%-1.0%1.3%
8/16/20210.1%-0.5%3.0%
SUMMARY STATS   
# Positive111113
# Negative11118
Median Positive2.4%6.1%7.2%
Median Negative-4.3%-4.5%-6.0%
Max Positive8.2%9.0%13.5%
Max Negative-9.7%-17.3%-12.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/10/202610-Q
03/31/202605/11/202610-Q
12/31/202503/16/202610-K
09/30/202511/10/202510-Q
06/30/202508/11/202510-Q
03/31/202505/12/202510-Q
12/31/202403/17/202510-K
09/30/202411/13/202410-Q
06/30/202408/12/202410-Q
03/31/202405/15/202410-Q
12/31/202303/29/202410-K
09/30/202311/14/202310-Q
06/30/202308/11/202310-Q
03/31/202305/15/202310-Q
12/31/202203/24/202310-K
09/30/202211/10/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/10/202610-Q
03/31/202605/11/202610-Q
12/31/202503/16/202610-K
09/30/202511/10/202510-Q
06/30/202508/11/202510-Q
03/31/202505/12/202510-Q
12/31/202403/17/202510-K
09/30/202411/13/202410-Q
06/30/202408/12/202410-Q
03/31/202405/15/202410-Q
12/31/202303/29/202410-K
09/30/202311/14/202310-Q
06/30/202308/11/202310-Q
03/31/202305/15/202310-Q
12/31/202203/24/202310-K
09/30/202211/10/202210-Q
06/30/202208/11/202210-Q
03/31/202205/11/202210-Q
12/31/202103/30/202210-K
09/30/202111/09/202110-Q
06/30/202109/15/202110-Q

Insider Activity

Updated 11/5/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Ruhl, Joseph AReg Pres, Westchester CountyDirectSell1105202640.271,92377,4391,323,232Form
2Rooney, StephenSVP, Chief Credit OfficerDirectSell804202638.711,50058,065333,138Form
3Sousa, GregoryEVP and Deputy CLODirectSell803202638.751,88272,928409,665Form
4Sousa, GregoryEVP and Deputy CLODirectSell803202638.751,16545,144482,592Form
5Gilfeather, Michael JPresident and CEOIRABuy323202631.252006,250512,498Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Ruhl, Joseph AReg Pres, Westchester CountyDirectSell1105202640.271,92377,4391,323,232Form
2Rooney, StephenSVP, Chief Credit OfficerDirectSell804202638.711,50058,065333,138Form
3Sousa, GregoryEVP and Deputy CLODirectSell803202638.751,88272,928409,665Form
4Sousa, GregoryEVP and Deputy CLODirectSell803202638.751,16545,144482,592Form
5Gilfeather, Michael JPresident and CEOIRABuy323202631.252006,250512,498Form
6Dineen, David PSVP, Dir. Wealth ServicesDirectSell1215202528.811,00028,806236,613Form
7Gilfeather, Michael JPresident and CEODirectBuy1103202524.021,30031,2262,565,048Form
8Gilfeather, Michael JPresident and CEOIRABuy1103202524.023508,407389,124Form
Core Cache Last Updated: 11/5/2026