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

Orange County Bancorp, Inc. (NASDAQ:OBT) CEO Michael J. Gilfeather purchased 400 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $55.67 per share, for a total transaction of $22,268.00. Following the acquisition, the chief executive officer now owns 43,295 shares in the company, valued at $2,410,232.65. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Orange County Bancorp Stock Up 10.8 %

Shares of OBT opened at $61.30 on Thursday. 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 $346.96 million, a PE ratio of 11.97 and a beta of 0.36. The company’s fifty day moving average is $56.75 and its two-hundred day moving average is $52.93. Orange County Bancorp, Inc. has a fifty-two week low of $41.00 and a fifty-two week high of $64.01.

Orange County Bancorp (NASDAQ:OBT) last posted its earnings results on Wednesday, October 30th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.86). The business had revenue of $35.61 million for the quarter, compared to analyst estimates of $26.60 million. Orange County Bancorp had a net margin of 20.31% and a return on equity of 16.91%. Analysts forecast that Orange County Bancorp, Inc. will post 5.43 earnings per share for the current year.

Orange County Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, September 4th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $0.92 annualized dividend and a dividend yield of 1.50%. Orange County Bancorp’s payout ratio is 17.97%.

Hedge Funds Weigh In On Orange County Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Orange County Bancorp during the 3rd quarter valued at $110,000. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 674 shares in the last quarter. Bank of New York Mellon Corp lifted 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 worth $1,202,000 after buying an additional 1,376 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in Orange County Bancorp by 28.9% in the 2nd quarter. Hennessy Advisors Inc. now owns 34,809 shares of the company’s stock worth $1,841,000 after buying an additional 7,809 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 buying an additional 2,492 shares in the last quarter. Institutional investors and hedge funds own 42.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their price target on shares of Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st.

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.