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

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

Orange County Bancorp Trading Up 10.8 %

Shares of OBT opened at $61.30 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $56.75 and a 200-day simple moving average of $52.93. Orange County Bancorp, Inc. has a 1-year low of $41.00 and a 1-year high of $64.01. The stock has a market cap of $346.96 million, a price-to-earnings ratio of 11.97 and a beta of 0.36.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.57 earnings per share 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 analysts’ expectations of $26.60 million. Equities analysts forecast that Orange County Bancorp, Inc. will post 5.43 EPS for the current fiscal year.

Orange County Bancorp Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.50%. Orange County Bancorp’s payout ratio is currently 17.97%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler dropped their price objective on shares of Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st.

Institutional Trading of Orange County Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew 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 worth $399,000 after acquiring an additional 674 shares during the period. Bank of New York Mellon Corp grew its stake in Orange County Bancorp by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 22,730 shares of the company’s stock worth $1,202,000 after acquiring an additional 1,376 shares during the period. SG Americas Securities LLC purchased a new stake in Orange County Bancorp in the 3rd quarter worth approximately $110,000. Vanguard Group Inc. grew its stake in Orange County Bancorp by 1.3% in 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 period. Finally, Hudson Valley Investment Advisors Inc. ADV grew its stake in Orange County Bancorp by 0.7% in the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 602,918 shares of the company’s stock worth $36,368,000 after acquiring an additional 4,408 shares during the period. 42.55% of the stock is owned by hedge funds and other institutional investors.

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.