Michael J. Gilfeather Buys 400 Shares of Orange County Bancorp, Inc. (NASDAQ:OBT) Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) CEO Michael J. Gilfeather bought 400 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was purchased at an average price of $55.67 per share, with a total value of $22,268.00. Following the purchase, the chief executive officer now directly owns 43,295 shares of the company’s stock, valued at $2,410,232.65. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Orange County Bancorp Stock Up 3.8 %

Shares of NASDAQ:OBT opened at $55.30 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The firm has a market cap of $313.00 million, a P/E ratio of 10.80 and a beta of 0.36. Orange County Bancorp, Inc. has a 12 month low of $41.00 and a 12 month high of $64.01. The company’s 50-day moving average price is $56.70 and its two-hundred day moving average price is $52.87.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings results 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 net margin of 20.31% and a return on equity of 16.91%. The company had revenue of $35.61 million during the quarter, compared to analyst estimates of $26.60 million. As a group, research analysts forecast that Orange County Bancorp, Inc. will post 5.41 EPS for the current fiscal year.

Orange County Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Wednesday, September 4th. Orange County Bancorp’s dividend payout ratio (DPR) is presently 17.97%.

Analysts Set New Price Targets

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

Institutional Trading of Orange County Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OBT. SG Americas Securities LLC acquired a new position in Orange County Bancorp during the 3rd quarter valued at about $110,000. Dimensional Fund Advisors LP lifted its holdings in Orange County Bancorp by 9.8% in the second 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 period. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 1,376 shares during the last quarter. Hennessy Advisors Inc. grew its holdings in Orange County Bancorp by 28.9% during the 2nd quarter. Hennessy Advisors Inc. now owns 34,809 shares of the company’s stock worth $1,841,000 after acquiring an additional 7,809 shares during the period. Finally, Vanguard Group Inc. grew its holdings 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 period. 42.55% of the stock is currently owned by institutional investors and hedge funds.

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.