Orange County Bancorp, Inc. $OBT Shares Sold by Orange Investment Advisors Inc.

Orange Investment Advisors Inc. trimmed its position in Orange County Bancorp, Inc. (NASDAQ:OBT) by 3.6% in the first quarter, HoldingsChannel.com reports. The firm owned 1,061,490 shares of the company’s stock after selling 40,127 shares during the period. Orange County Bancorp comprises 4.4% of Orange Investment Advisors Inc.’s investment portfolio, making the stock its 4th largest holding. Orange Investment Advisors Inc. owned 0.08% of Orange County Bancorp worth $33,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in Orange County Bancorp by 5,416.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock valued at $25,000 after buying an additional 975 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Orange County Bancorp during the 2nd quarter worth about $28,000. Tower Research Capital LLC TRC lifted its holdings in shares of Orange County Bancorp by 706.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company’s stock worth $89,000 after acquiring an additional 3,025 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Orange County Bancorp during the 2nd quarter valued at about $104,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Orange County Bancorp by 107.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,036 shares of the company’s stock valued at $141,000 after acquiring an additional 3,132 shares in the last quarter. 42.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Orange County Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Orange County Bancorp has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Orange County Bancorp Price Performance

Shares of OBT stock opened at $36.95 on Monday. The stock’s fifty day simple moving average is $34.94 and its 200 day simple moving average is $32.70. Orange County Bancorp, Inc. has a one year low of $22.98 and a one year high of $40.10. The firm has a market cap of $495.50 million, a price-to-earnings ratio of 10.87 and a beta of 0.43. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92.

Orange County Bancorp (NASDAQ:OBT) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.07. Orange County Bancorp had a return on equity of 16.09% and a net margin of 27.54%.The firm had revenue of $32.08 million during the quarter, compared to analyst estimates of $32.30 million.

Orange County Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.72 annualized dividend and a dividend yield of 1.9%. Orange County Bancorp’s dividend payout ratio is presently 21.18%.

About Orange County Bancorp

Orange County Bancorp, Inc (NASDAQ: OBT) is the bank holding company for Orange County Trust Bank, a community banking franchise headquartered in Goshen, New York. The company provides a full suite of financial services to individuals, small businesses and local organizations across Orange County and the surrounding Hudson Valley region.

Orange County Bancorp offers depository products that include checking and savings accounts, money market funds and certificates of deposit. On the lending side, the company extends commercial real estate and business loans, residential mortgage loans, consumer installment loans and home equity financing.