Orange County Bancorp, Inc. (NASDAQ:OBT) CEO Michael J. Gilfeather Purchases 400 Shares

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

Orange County Bancorp Price Performance

Shares of NASDAQ OBT opened at $53.27 on Tuesday. The stock’s 50-day simple moving average is $56.76 and its 200-day simple moving average is $52.79. The firm has a market capitalization of $301.72 million, a PE ratio of 10.40 and a beta of 0.36. Orange County Bancorp, Inc. has a fifty-two week low of $41.00 and a fifty-two week high of $64.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings data 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 company had revenue of $35.61 million for the quarter, compared to analysts’ expectations of $26.60 million. Orange County Bancorp had a return on equity of 16.91% and a net margin of 20.31%. As a group, equities research analysts forecast that Orange County Bancorp, Inc. will post 5.91 EPS for the current fiscal year.

Orange County Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Wednesday, September 4th were paid a $0.23 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $0.92 annualized dividend and a yield of 1.73%. Orange County Bancorp’s dividend payout ratio is presently 17.97%.

Hedge Funds Weigh In On Orange County Bancorp

Several hedge funds have recently made changes to their positions in OBT. Hennessy Advisors Inc. increased its holdings in shares of Orange County Bancorp by 28.9% in the 2nd quarter. Hennessy Advisors Inc. now owns 34,809 shares of the company’s stock valued at $1,841,000 after acquiring an additional 7,809 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its position in Orange County Bancorp by 0.7% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 602,918 shares of the company’s stock worth $36,368,000 after purchasing an additional 4,408 shares during the last quarter. Vanguard Group Inc. increased 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 purchasing an additional 2,492 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Orange County Bancorp in the third quarter valued at about $110,000. Finally, Bank of New York Mellon Corp boosted 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 buying an additional 1,376 shares during the period. Hedge funds and other institutional investors own 42.55% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lowered their target price on shares of 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.

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.