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

Hudson Valley Investment Advisors Inc. ADV decreased its holdings in shares of Orange County Bancorp, Inc. (NASDAQ:OBT) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 602,184 shares of the company’s stock after selling 734 shares during the quarter. Orange County Bancorp comprises about 3.8% of Hudson Valley Investment Advisors Inc. ADV’s portfolio, making the stock its 6th biggest holding. Hudson Valley Investment Advisors Inc. ADV owned approximately 10.61% of Orange County Bancorp worth $33,463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of OBT. Bank of New York Mellon Corp grew its holdings 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 valued at $1,202,000 after buying an additional 1,376 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 purchasing an additional 674 shares during the period. SG Americas Securities LLC acquired a new stake in Orange County Bancorp during the third quarter worth about $110,000. Quadrature Capital Ltd purchased a new position in Orange County Bancorp during the third quarter worth about $379,000. Finally, State Street Corp boosted its holdings in Orange County Bancorp by 5.7% in the 3rd quarter. State Street Corp now owns 74,966 shares of the company’s stock valued at $4,522,000 after purchasing an additional 4,060 shares during the last quarter. 42.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Piper Sandler increased their target price on shares of Orange County Bancorp from $66.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th.

Orange County Bancorp Stock Down 1.9 %

Orange County Bancorp stock opened at $52.52 on Friday. The firm has a market capitalization of $298.00 million, a P/E ratio of 10.26 and a beta of 0.43. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Orange County Bancorp, Inc. has a twelve month low of $41.00 and a twelve month high of $66.11. The stock’s fifty day simple moving average is $57.79 and its 200-day simple moving average is $56.32.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $35.61 million for the quarter, compared to analyst estimates of $26.60 million. As a group, equities analysts expect that Orange County Bancorp, Inc. will post 4.93 earnings per share for the current fiscal year.

Orange County Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.25 per share. This is a boost from Orange County Bancorp’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Wednesday, December 4th. Orange County Bancorp’s dividend payout ratio is currently 19.53%.

Insider Activity

In other Orange County Bancorp news, insider Joseph A. Ruhl sold 910 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 owns 14,464 shares in the company, valued at approximately $835,296. The trade was a 5.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael Listner sold 589 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $59.40, for a total transaction of $34,986.60. Following the completion of the sale, the senior vice president now owns 3,072 shares of the company’s stock, valued at approximately $182,476.80. This trade represents a 16.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,925 shares of company stock worth $110,969. 10.50% of the stock is currently owned by insiders.

Orange County Bancorp 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.