Orange County Bancorp, Inc. $OBT Shares Sold by Orange Investment Advisors Inc.

Orange Investment Advisors Inc. trimmed its position in shares of Orange County Bancorp, Inc. (NASDAQ:OBT) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,061,490 shares of the company’s stock after selling 40,127 shares during the period. Orange County Bancorp makes up 4.4% of Orange Investment Advisors Inc.’s portfolio, making the stock its 4th biggest holding. Orange Investment Advisors Inc. owned approximately 7.92% of Orange County Bancorp worth $33,946,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fourthstone LLC increased its stake in shares of Orange County Bancorp by 169.9% in the fourth quarter. Fourthstone LLC now owns 192,846 shares of the company’s stock worth $5,506,000 after purchasing an additional 121,402 shares during the period. The Manufacturers Life Insurance Company boosted its stake 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 valued at $8,262,000 after purchasing an additional 73,483 shares during the period. Boothbay Fund Management LLC acquired a new stake in Orange County Bancorp in the 2nd quarter valued at approximately $1,638,000. Marshall Wace LLP acquired a new stake in Orange County Bancorp in the 2nd quarter valued at approximately $986,000. Finally, Bank of America Corp DE grew its holdings in Orange County Bancorp by 181.0% in the 2nd quarter. Bank of America Corp DE now owns 52,872 shares of the company’s stock valued at $1,366,000 after buying an additional 34,059 shares during the last quarter. 42.55% of the stock is owned by institutional investors and hedge funds.

Orange County Bancorp Stock Performance

NASDAQ OBT opened at $36.95 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $495.50 million, a price-to-earnings ratio of 10.87 and a beta of 0.43. The company’s fifty day moving average is $34.94 and its two-hundred day moving average is $32.70. Orange County Bancorp, Inc. has a 52-week low of $22.98 and a 52-week high of $40.10.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Orange County Bancorp had a net margin of 27.54% and a return on equity of 16.09%. The business had revenue of $32.08 million during the quarter, compared to analyst estimates of $32.30 million.

Orange County Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, June 4th. Orange County Bancorp’s payout ratio is currently 21.18%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Orange County Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

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.