Orange County Bancorp, Inc. (NASDAQ:OBT) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its stake in shares of Orange County Bancorp, Inc. (NASDAQ:OBT) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,933 shares of the company’s stock after purchasing an additional 2,668 shares during the quarter. Northern Trust Corp owned 0.38% of Orange County Bancorp worth $2,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in Orange County Bancorp by 40.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,211 shares of the company’s stock worth $956,000 after purchasing an additional 4,966 shares in the last quarter. Barclays PLC grew its stake in Orange County Bancorp by 29.7% during the 4th quarter. Barclays PLC now owns 10,292 shares of the company’s stock worth $572,000 after purchasing an additional 2,358 shares in the last quarter. Renaissance Technologies LLC grew its stake in Orange County Bancorp by 52.5% during the 4th quarter. Renaissance Technologies LLC now owns 6,100 shares of the company’s stock worth $339,000 after purchasing an additional 2,100 shares in the last quarter. Wells Fargo & Company MN grew its stake in Orange County Bancorp by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock worth $167,000 after purchasing an additional 652 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Orange County Bancorp by 129.0% during the 4th quarter. JPMorgan Chase & Co. now owns 19,100 shares of the company’s stock worth $1,061,000 after purchasing an additional 10,761 shares in the last quarter. 42.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Joseph A. Ruhl sold 1,752 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.67, for a total value of $46,725.84. Following the completion of the sale, the insider now directly owns 31,485 shares of the company’s stock, valued at approximately $839,704.95. The trade was a 5.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gregory Sousa sold 2,440 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $24.61, for a total value of $60,048.40. Following the completion of the sale, the executive vice president now directly owns 10,280 shares of the company’s stock, valued at $252,990.80. The trade was a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,689 shares of company stock valued at $172,121 in the last ninety days. Insiders own 9.30% of the company’s stock.

Orange County Bancorp Stock Down 1.4%

Shares of NASDAQ OBT opened at $25.15 on Friday. The company has a market capitalization of $286.31 million, a price-to-earnings ratio of 10.18 and a beta of 0.46. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50-day moving average of $24.15 and a two-hundred day moving average of $26.24. Orange County Bancorp, Inc. has a 1 year low of $20.97 and a 1 year high of $33.06.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. The company had revenue of $27.98 million during the quarter, compared to the consensus estimate of $28.10 million. Orange County Bancorp had a return on equity of 15.51% and a net margin of 19.47%. On average, analysts forecast that Orange County Bancorp, Inc. will post 2.83 earnings per share for the current fiscal year.

Orange County Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Wednesday, June 4th. Orange County Bancorp’s dividend payout ratio (DPR) is 21.58%.

Wall Street Analyst Weigh In

Separately, Hovde Group started coverage on Orange County Bancorp in a research note on Monday, May 12th. They set an “outperform” rating and a $30.50 target price for the company.

About Orange County Bancorp

Orange County Bancorp, Inc, through its subsidiaries, provides commercial and consumer banking products and services, and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.