Orange County Bancorp, Inc. (NASDAQ:OBT) CEO Purchases $22,268.00 in Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) CEO Michael J. Gilfeather purchased 400 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $55.67 per share, for a total transaction of $22,268.00. Following the completion of the transaction, the chief executive officer now directly owns 43,295 shares in the company, valued at $2,410,232.65. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Orange County Bancorp Stock Up 3.8 %

NASDAQ:OBT opened at $55.30 on Wednesday. Orange County Bancorp, Inc. has a 1 year low of $41.00 and a 1 year high of $64.01. The stock has a 50-day moving average price of $56.70 and a two-hundred day moving average price of $52.87. The stock has a market cap of $313.00 million, a price-to-earnings ratio of 10.80 and a beta of 0.36. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.

Orange County Bancorp (NASDAQ:OBT) last posted its earnings results on Wednesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.86). Orange County Bancorp had a return on equity of 16.91% and a net margin of 20.31%. The business had revenue of $35.61 million for the quarter, compared to the consensus estimate of $26.60 million. As a group, equities analysts expect that Orange County Bancorp, Inc. will post 5.41 earnings per share for the current year.

Orange County Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, September 4th were given a $0.23 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.92 annualized dividend and a yield of 1.66%. Orange County Bancorp’s dividend payout ratio is currently 17.97%.

Hedge Funds Weigh In On Orange County Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Orange County Bancorp by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock worth $9,267,000 after acquiring an additional 2,492 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings in Orange County Bancorp by 28.9% during the second quarter. Hennessy Advisors Inc. now owns 34,809 shares of the company’s stock worth $1,841,000 after purchasing an additional 7,809 shares during the last quarter. Bank of New York Mellon Corp grew its position in Orange County Bancorp by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 22,730 shares of the company’s stock valued at $1,202,000 after purchasing an additional 1,376 shares in the last quarter. Dimensional Fund Advisors LP increased its stake 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. Finally, SG Americas Securities LLC bought a new stake in Orange County Bancorp during the 3rd quarter worth about $110,000. Institutional investors own 42.55% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price target on shares of Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st.

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.