Orange County Bancorp (NASDAQ:OBT) Trading Up 1.7%

Orange County Bancorp, Inc. (NASDAQ:OBT) rose 1.7% during trading on Monday . The company traded as high as $61.09 and last traded at $59.43. Approximately 14,970 shares changed hands during mid-day trading, an increase of 50% from the average daily volume of 9,984 shares. The stock had previously closed at $58.44.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price target on shares of Orange County Bancorp from $53.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st.

Orange County Bancorp Trading Up 1.7 %

The business has a 50-day moving average of $56.24 and a 200-day moving average of $50.14. The stock has a market capitalization of $336.20 million, a price-to-earnings ratio of 9.42 and a beta of 0.33. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.16. The business had revenue of $36.32 million during the quarter, compared to the consensus estimate of $25.34 million. Orange County Bancorp had a return on equity of 21.15% and a net margin of 24.81%. As a group, research analysts forecast that Orange County Bancorp, Inc. will post 5.91 EPS for the current year.

Orange County Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, September 4th were paid a $0.23 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.92 dividend on an annualized basis and a yield of 1.55%. Orange County Bancorp’s dividend payout ratio is presently 14.58%.

Institutional Investors Weigh In On Orange County Bancorp

Several hedge funds have recently made changes to their positions in OBT. Hennessy Advisors Inc. purchased a new stake in Orange County Bancorp during the 4th quarter valued at approximately $843,000. Vanguard Group Inc. raised its stake in shares of Orange County Bancorp by 1.3% during the first quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock worth $9,267,000 after purchasing an additional 2,492 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Orange County Bancorp by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 22,730 shares of the company’s stock worth $1,202,000 after purchasing an additional 1,376 shares during the period. Finally, 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 during the last quarter. Institutional investors and hedge funds own 42.55% 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.