Orange County Bancorp (NASDAQ:OBT) Trading 0.4% Higher – What’s Next?

Orange County Bancorp, Inc. (NASDAQ:OBT)’s share price traded up 0.4% on Monday . The stock traded as high as $29.59 and last traded at $29.07. 37,850 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 32,909 shares. The stock had previously closed at $28.94.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OBT. Piper Sandler reiterated an “overweight” rating and issued a $31.00 price objective (up from $29.00) on shares of Orange County Bancorp in a report on Wednesday, December 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Orange County Bancorp in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded Orange County Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Orange County Bancorp presently has an average rating of “Moderate Buy” and an average price target of $30.25.

Orange County Bancorp Price Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The stock has a market cap of $388.67 million, a PE ratio of 9.63 and a beta of 0.43. The company has a fifty day moving average of $27.65 and a 200-day moving average of $26.38.

Orange County Bancorp (NASDAQ:OBT) last announced its earnings results on Wednesday, October 29th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The company had revenue of $33.73 million during the quarter, compared to analysts’ expectations of $28.60 million. Orange County Bancorp had a return on equity of 15.98% and a net margin of 23.51%. Sell-side analysts expect that Orange County Bancorp, Inc. will post 2.83 EPS for the current fiscal year.

Orange County Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Thursday, December 4th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This is a positive change from Orange County Bancorp’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 2.5%. Orange County Bancorp’s payout ratio is 23.84%.

Insider Activity at Orange County Bancorp

In related news, SVP David P. Dineen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $28.81, for a total transaction of $28,810.00. Following the sale, the senior vice president directly owned 8,214 shares of the company’s stock, valued at $236,645.34. This represents a 10.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Gilfeather bought 1,300 shares of Orange County Bancorp stock in a transaction on Friday, October 31st. The shares were acquired at an average price of $24.02 per share, for a total transaction of $31,226.00. Following the completion of the acquisition, the chief executive officer owned 106,788 shares in the company, valued at $2,565,047.76. This represents a 1.23% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 9.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Orange County Bancorp by 1.6% in the third quarter. Vanguard Group Inc. now owns 550,920 shares of the company’s stock worth $13,889,000 after acquiring an additional 8,793 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Orange County Bancorp by 29.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 319,723 shares of the company’s stock worth $8,262,000 after buying an additional 73,483 shares during the last quarter. Fourthstone LLC acquired a new position in shares of Orange County Bancorp during the 2nd quarter worth about $6,210,000. Endeavour Capital Advisors Inc. purchased a new position in shares of Orange County Bancorp in the 2nd quarter valued at about $5,121,000. Finally, American Century Companies Inc. raised its position in shares of Orange County Bancorp by 0.4% during the 2nd quarter. American Century Companies Inc. now owns 124,512 shares of the company’s stock worth $3,217,000 after acquiring an additional 516 shares in the last quarter. 42.55% of the stock is currently owned by hedge funds and other institutional investors.

About Orange County Bancorp

Orange County Bancorp, Inc (NASDAQ: OBT) is the bank holding company for Orange County Trust Bank, a community banking franchise headquartered in Goshen, New York. The company provides a full suite of financial services to individuals, small businesses and local organizations across Orange County and the surrounding Hudson Valley region.

Orange County Bancorp offers depository products that include checking and savings accounts, money market funds and certificates of deposit. On the lending side, the company extends commercial real estate and business loans, residential mortgage loans, consumer installment loans and home equity financing.