Cortland Bancorp Inc (CLDB) VP Michael P. Lipke Sells 681 Shares

Cortland Bancorp Inc (OTCMKTS:CLDB) VP Michael P. Lipke sold 681 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $23.50, for a total value of $16,003.50. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Shares of CLDB stock traded up $0.12 on Tuesday, hitting $23.42. 704 shares of the stock traded hands, compared to its average volume of 1,175. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.71. The firm has a market cap of $101.36 million, a P/E ratio of 9.93 and a beta of 0.13. Cortland Bancorp Inc has a 1-year low of $19.10 and a 1-year high of $28.68.

Cortland Bancorp (OTCMKTS:CLDB) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter. The business had revenue of $7.43 million for the quarter. Cortland Bancorp had a return on equity of 14.41% and a net margin of 26.40%.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, May 10th.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN acquired a new stake in Cortland Bancorp in the first quarter worth $142,000. Morgan Stanley acquired a new stake in Cortland Bancorp in the first quarter worth $750,000. EJF Capital LLC acquired a new stake in Cortland Bancorp in the first quarter worth $1,380,000. Finally, Elizabeth Park Capital Advisors Ltd. acquired a new stake in Cortland Bancorp in the first quarter worth $7,795,000. 1.61% of the stock is currently owned by hedge funds and other institutional investors.

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About Cortland Bancorp

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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