Cortland Bancorp (OTCMKTS:CLDB) Stock Price Crosses Above 50 Day Moving Average of $21.71

Cortland Bancorp Inc (OTCMKTS:CLDB) shares passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $21.71 and traded as high as $22.50. Cortland Bancorp shares last traded at $21.90, with a volume of 6,310 shares trading hands.

The firm has a market capitalization of $94.89 million, a P/E ratio of 9.93 and a beta of 0.13. The firm’s 50-day moving average is $21.71 and its 200 day moving average is $22.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.88 and a current ratio of 0.88.

Cortland Bancorp (OTCMKTS:CLDB) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.45 EPS for the quarter. The business had revenue of $7.25 million for the quarter. Cortland Bancorp had a net margin of 26.40% and a return on equity of 14.41%.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.12 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.48 annualized dividend and a yield of 2.19%.

In related news, COO Timothy Carney acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were acquired at an average cost of $21.17 per share, with a total value of $42,340.00. Insiders own 9.53% of the company’s stock.

An institutional investor recently raised its position in Cortland Bancorp stock. Maltese Capital Management LLC grew its holdings in shares of Cortland Bancorp Inc (OTCMKTS:CLDB) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,638 shares of the financial services provider’s stock after buying an additional 3,117 shares during the quarter. Maltese Capital Management LLC owned approximately 1.20% of Cortland Bancorp worth $1,216,000 at the end of the most recent reporting period. 1.61% of the stock is currently owned by hedge funds and other institutional investors.

Cortland Bancorp Company Profile (OTCMKTS:CLDB)

Cortland Bancorp operates as the bank holding company for The Cortland Savings and Banking Company that provides commercial and retail banking services in Northeastern Ohio and Western Pennsylvania. Its deposit products include demand deposits, savings, money market, time deposit, and checking accounts.

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