Gator Capital Management LLC Purchases New Position in Orange County Bancorp, Inc. $OBT

Gator Capital Management LLC purchased a new stake in shares of Orange County Bancorp, Inc. (NASDAQ:OBT) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 20,000 shares of the company’s stock, valued at approximately $517,000. Gator Capital Management LLC owned about 0.15% of Orange County Bancorp as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of OBT. Northwestern Mutual Wealth Management Co. bought a new position in shares of Orange County Bancorp in the second quarter valued at approximately $28,000. Corebridge Financial Inc. lifted its stake in Orange County Bancorp by 97.0% during the 1st quarter. Corebridge Financial Inc. now owns 5,007 shares of the company’s stock valued at $117,000 after acquiring an additional 2,466 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Orange County Bancorp by 107.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,036 shares of the company’s stock valued at $141,000 after acquiring an additional 3,132 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Orange County Bancorp by 95.7% during the 1st quarter. MetLife Investment Management LLC now owns 6,229 shares of the company’s stock worth $146,000 after acquiring an additional 3,046 shares during the last quarter. Finally, Culbertson A N & Co. Inc. bought a new stake in shares of Orange County Bancorp in the 2nd quarter worth $202,000. 42.55% of the stock is owned by hedge funds and other institutional investors.

Orange County Bancorp Stock Down 0.4%

OBT opened at $27.20 on Friday. Orange County Bancorp, Inc. has a twelve month low of $20.97 and a twelve month high of $30.81. The company’s 50-day moving average price is $25.24 and its two-hundred day moving average price is $25.60. The stock has a market cap of $363.66 million, a price-to-earnings ratio of 9.01 and a beta of 0.45. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.07. Orange County Bancorp had a net margin of 23.51% and a return on equity of 15.98%. The company had revenue of $33.73 million during the quarter, compared to analyst estimates of $28.60 million. As a group, equities analysts expect that Orange County Bancorp, Inc. will post 2.83 earnings per share for the current year.

Orange County Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from Orange County Bancorp’s previous quarterly dividend of $0.13. Orange County Bancorp’s payout ratio is currently 17.22%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OBT. Weiss Ratings reissued a “hold (c+)” rating on shares of Orange County Bancorp in a research report on Wednesday, October 8th. Zacks Research upgraded Orange County Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.25.

Insider Buying and Selling at Orange County Bancorp

In other news, CEO Michael J. Gilfeather acquired 1,300 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of $24.02 per share, with a total value of $31,226.00. Following the acquisition, the chief executive officer owned 106,788 shares in the company, valued at $2,565,047.76. The trade was a 1.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.30% of the company’s stock.

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.