Cortland Bancorp (OTCMKTS:CLDB) Shares Cross Below 200-Day Moving Average of $22.86

Cortland Bancorp Inc (OTCMKTS:CLDB)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $22.86 and traded as low as $22.40. Cortland Bancorp shares last traded at $23.98, with a volume of 1,926 shares changing hands.

The stock has a market cap of $98.53 million, a PE ratio of 9.93 and a beta of 0.13. The stock has a 50-day moving average price of $23.10 and a two-hundred day moving average price of $22.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.88 and a quick ratio of 0.88.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, August 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.96%.

A hedge fund recently bought a new stake in Cortland Bancorp stock. Valeo Financial Advisors LLC purchased a new position in Cortland Bancorp Inc (OTCMKTS:CLDB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,491 shares of the financial services provider’s stock, valued at approximately $81,000. Valeo Financial Advisors LLC owned approximately 0.08% of Cortland Bancorp at the end of the most recent quarter. Institutional investors and hedge funds own 1.61% of the company’s stock.

About Cortland Bancorp (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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