BNP Paribas Financial Markets Purchases Shares of 833 Orange County Bancorp, Inc. (NASDAQ:OBT)

BNP Paribas Financial Markets purchased a new stake in shares of Orange County Bancorp, Inc. (NASDAQ:OBT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 833 shares of the company’s stock, valued at approximately $46,000.

Other hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Orange County Bancorp by 59.8% in the fourth quarter. American Century Companies Inc. now owns 53,753 shares of the company’s stock worth $2,987,000 after acquiring an additional 20,118 shares during the period. Northern Trust Corp boosted its stake in shares of Orange County Bancorp by 6.6% in the fourth quarter. Northern Trust Corp now owns 42,933 shares of the company’s stock worth $2,386,000 after acquiring an additional 2,668 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Orange County Bancorp by 50.5% in the fourth quarter. Bank of New York Mellon Corp now owns 28,038 shares of the company’s stock worth $1,558,000 after acquiring an additional 9,403 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Orange County Bancorp by 19.6% in the fourth quarter. Ameriprise Financial Inc. now owns 22,916 shares of the company’s stock worth $1,273,000 after acquiring an additional 3,752 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Orange County Bancorp by 129.0% in the fourth quarter. JPMorgan Chase & Co. now owns 19,100 shares of the company’s stock worth $1,061,000 after acquiring an additional 10,761 shares during the period. Institutional investors own 42.55% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Orange County Bancorp

In other news, insider Joseph A. Ruhl sold 1,752 shares of the firm’s stock in a transaction that occurred on 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 $839,704.95. This trade represents a 5.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory Sousa sold 2,440 shares of the firm’s stock in a transaction that occurred on 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. Over the last three months, insiders sold 6,689 shares of company stock valued at $172,121. Insiders own 9.30% of the company’s stock.

Orange County Bancorp Price Performance

Shares of Orange County Bancorp stock opened at $25.22 on Wednesday. The stock has a 50 day moving average of $24.33 and a 200 day moving average of $25.98. Orange County Bancorp, Inc. has a 12 month low of $20.97 and a 12 month high of $33.06. The firm has a market cap of $287.10 million, a PE ratio of 10.21 and a beta of 0.46. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

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

Orange County Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, June 4th. Orange County Bancorp’s payout ratio is presently 21.58%.

Orange County Bancorp Company Profile

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.