Orange County Bancorp, Inc. (NASDAQ:OBT) Holdings Lifted by Barclays PLC

Barclays PLC raised its position in Orange County Bancorp, Inc. (NASDAQ:OBT) by 183.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,934 shares of the company’s stock after purchasing an additional 5,132 shares during the quarter. Barclays PLC’s holdings in Orange County Bancorp were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in OBT. Dimensional Fund Advisors LP grew its position in Orange County Bancorp by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,564 shares of the company’s stock valued at $399,000 after buying an additional 674 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Orange County Bancorp by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 22,730 shares of the company’s stock worth $1,202,000 after acquiring an additional 1,376 shares during the period. SG Americas Securities LLC bought a new position in shares of Orange County Bancorp in the third quarter valued at approximately $110,000. State Street Corp increased its stake in shares of Orange County Bancorp by 5.7% during the third quarter. State Street Corp now owns 74,966 shares of the company’s stock valued at $4,522,000 after acquiring an additional 4,060 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV raised its holdings in Orange County Bancorp by 0.7% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 602,918 shares of the company’s stock worth $36,368,000 after purchasing an additional 4,408 shares in the last quarter. Institutional investors own 42.55% of the company’s stock.

Orange County Bancorp Price Performance

NASDAQ:OBT opened at $53.98 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. The business’s 50-day moving average price is $58.01 and its 200 day moving average price is $56.07. Orange County Bancorp, Inc. has a 52-week low of $41.00 and a 52-week high of $66.11. The firm has a market cap of $306.28 million, a P/E ratio of 10.54 and a beta of 0.40.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.86). Orange County Bancorp had a return on equity of 16.37% and a net margin of 20.31%. The business had revenue of $35.61 million during the quarter, compared to analyst estimates of $26.60 million. As a group, sell-side analysts predict that Orange County Bancorp, Inc. will post 4.93 earnings per share for the current fiscal year.

Orange County Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Wednesday, December 4th. This is an increase from Orange County Bancorp’s previous quarterly dividend of $0.23. Orange County Bancorp’s dividend payout ratio is 19.53%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their price target on Orange County Bancorp from $66.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, December 13th.

Insider Transactions at Orange County Bancorp

In related news, SVP Michael Listner sold 589 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $59.40, for a total transaction of $34,986.60. Following the transaction, the senior vice president now directly owns 3,072 shares of the company’s stock, valued at approximately $182,476.80. The trade was a 16.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph A. Ruhl sold 910 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $57.75, for a total value of $52,552.50. Following the sale, the insider now owns 14,464 shares of the company’s stock, valued at $835,296. The trade was a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,925 shares of company stock valued at $110,969 in the last three months. 10.50% of the stock is currently owned by corporate insiders.

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.