Orange County Bancorp (NASDAQ:OBT) Trading Up 0%

Orange County Bancorp, Inc. (NASDAQ:OBTGet Rating) traded up 0% on Tuesday . The stock traded as high as $47.99 and last traded at $47.98. 2,217 shares were traded during mid-day trading, a decline of 57% from the average session volume of 5,101 shares. The stock had previously closed at $47.96.

Analyst Ratings Changes

Separately, Stephens began coverage on Orange County Bancorp in a research note on Friday, December 9th. They issued an “overweight” rating and a $50.00 target price for the company.

Orange County Bancorp Stock Up 0.0 %

The firm has a market capitalization of $270.75 million, a P/E ratio of 12.97 and a beta of 0.11. The stock has a fifty day simple moving average of $47.15 and a 200 day simple moving average of $41.87.

Orange County Bancorp (NASDAQ:OBTGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.34. The firm had revenue of $24.35 million during the quarter, compared to the consensus estimate of $21.90 million. Orange County Bancorp had a net margin of 23.67% and a return on equity of 11.97%. Research analysts anticipate that Orange County Bancorp, Inc. will post 4.99 earnings per share for the current fiscal year.

Orange County Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Friday, December 2nd were paid a $0.23 dividend. This is an increase from Orange County Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, December 1st. This represents a $0.92 dividend on an annualized basis and a yield of 1.92%. Orange County Bancorp’s payout ratio is 24.86%.

Hedge Funds Weigh In On Orange County Bancorp

A number of large investors have recently bought and sold shares of OBT. Alliancebernstein L.P. grew its holdings in shares of Orange County Bancorp by 1.2% during the third quarter. Alliancebernstein L.P. now owns 244,246 shares of the company’s stock valued at $9,403,000 after buying an additional 2,914 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Orange County Bancorp by 38.4% in the 3rd quarter. Vanguard Group Inc. now owns 161,386 shares of the company’s stock valued at $6,213,000 after buying an additional 44,761 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Orange County Bancorp by 2.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 131,436 shares of the company’s stock valued at $5,259,000 after buying an additional 2,563 shares during the period. BlackRock Inc. grew its stake in shares of Orange County Bancorp by 216.1% in the 3rd quarter. BlackRock Inc. now owns 36,507 shares of the company’s stock valued at $1,406,000 after buying an additional 24,959 shares during the period. Finally, UBS Group AG purchased a new position in shares of Orange County Bancorp during the 3rd quarter worth approximately $54,000. Institutional investors own 41.15% of the company’s stock.

About Orange County Bancorp

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Orange County Bancorp, Inc operates as a holding company engaged in the provision of commercial banking solutions. The firm operates through the Banking and Wealth Management segments. It offers banking solutions such as business, personal banking, special services, trusts and investment services. The company was founded on May 2, 1892 and is headquartered in Middletown, NY.

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