Orange County Bancorp, Inc. (NASDAQ:OBT) Position Decreased by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV reduced its position in shares of Orange County Bancorp, Inc. (NASDAQ:OBT) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 602,184 shares of the company’s stock after selling 734 shares during the period. Orange County Bancorp makes up approximately 3.8% of Hudson Valley Investment Advisors Inc. ADV’s portfolio, making the stock its 6th largest position. Hudson Valley Investment Advisors Inc. ADV owned about 0.11% of Orange County Bancorp worth $33,463,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in shares of Orange County Bancorp in the third quarter valued at about $379,000. Barclays PLC increased its holdings in Orange County Bancorp by 183.2% in the third quarter. Barclays PLC now owns 7,934 shares of the company’s stock valued at $478,000 after buying an additional 5,132 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Orange County Bancorp by 132.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,339 shares of the company’s stock valued at $503,000 after acquiring an additional 4,750 shares during the period. State Street Corp boosted its stake in shares of Orange County Bancorp by 5.7% during the 3rd quarter. State Street Corp now owns 74,966 shares of the company’s stock worth $4,522,000 after acquiring an additional 4,060 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Orange County Bancorp in the 3rd quarter worth approximately $110,000. Institutional investors and hedge funds own 42.55% of the company’s stock.

Orange County Bancorp Price Performance

Orange County Bancorp stock opened at $52.52 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 firm’s 50-day simple moving average is $57.79 and its 200 day simple moving average is $56.32. 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 capitalization of $298.00 million, a PE ratio of 10.26 and a beta of 0.43.

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

Orange County Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.25 per share. This is an increase from Orange County Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, December 4th. This represents a $1.00 annualized dividend and a yield of 1.90%. Orange County Bancorp’s dividend payout ratio (DPR) is presently 19.53%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price objective on Orange County Bancorp from $66.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, December 13th.

Insider Transactions at Orange County Bancorp

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

Orange County Bancorp Company Profile

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.