Banc Funds Co. LLC Has $17.36 Million Stock Position in Orange County Bancorp, Inc. (NASDAQ:OBT)

Banc Funds Co. LLC lessened its position in shares of Orange County Bancorp, Inc. (NASDAQ:OBT) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 287,872 shares of the company’s stock after selling 23,718 shares during the quarter. Orange County Bancorp comprises about 1.9% of Banc Funds Co. LLC’s investment portfolio, making the stock its 14th largest position. Banc Funds Co. LLC owned approximately 5.09% of Orange County Bancorp worth $17,364,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Orange County Bancorp in the third quarter valued at approximately $110,000. Dimensional Fund Advisors LP boosted its position in shares of 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 purchasing an additional 674 shares during the last quarter. Bank of New York Mellon Corp grew its stake 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. Hennessy Advisors Inc. increased its holdings in Orange County Bancorp by 28.9% in the second quarter. Hennessy Advisors Inc. now owns 34,809 shares of the company’s stock valued at $1,841,000 after purchasing an additional 7,809 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Orange County Bancorp by 1.3% in the first quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock valued at $9,267,000 after buying an additional 2,492 shares during the period. Institutional investors own 42.55% of the company’s stock.

Orange County Bancorp Trading Up 1.0 %

OBT opened at $59.64 on Monday. The firm’s fifty day moving average is $57.63 and its two-hundred day moving average is $54.51. The firm has a market cap of $338.16 million, a PE ratio of 11.65 and a beta of 0.36. Orange County Bancorp, Inc. has a twelve month low of $41.00 and a twelve month high of $66.11. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.86). Orange County Bancorp had a return on equity of 16.37% and a net margin of 20.31%. The business had revenue of $35.61 million during the quarter, compared to the consensus estimate of $26.60 million. Equities research analysts anticipate that Orange County Bancorp, Inc. will post 5.43 EPS for the current year.

Orange County Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, December 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Wednesday, December 4th. This is a boost from Orange County Bancorp’s previous quarterly dividend of $0.23. Orange County Bancorp’s dividend payout ratio is 17.97%.

Wall Street Analyst Weigh In

Separately, Piper Sandler lowered their price target on 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.

Insider Transactions at Orange County Bancorp

In other Orange County Bancorp news, insider Joseph A. Ruhl sold 910 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $57.75, for a total transaction of $52,552.50. Following the sale, the insider now directly owns 14,464 shares of the company’s stock, valued at $835,296. The trade was a 5.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael Listner sold 589 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $59.40, for a total value of $34,986.60. Following the sale, the senior vice president now owns 3,072 shares in the company, valued at $182,476.80. The trade was a 16.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,925 shares of company stock valued at $110,969 over the last quarter. Corporate insiders own 10.50% of the company’s stock.

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.