Insider Buying: Orange County Bancorp, Inc. (NASDAQ:OBT) Director Acquires $149,985.75 in Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) Director Jon Schiller acquired 6,451 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were acquired at an average cost of $23.25 per share, with a total value of $149,985.75. Following the completion of the transaction, the director now directly owns 12,446 shares in the company, valued at approximately $289,369.50. The trade was a 107.61% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Orange County Bancorp Stock Performance

NASDAQ OBT opened at $24.33 on Friday. The company has a market cap of $276.97 million, a P/E ratio of 9.85 and a beta of 0.48. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50-day moving average of $24.35 and a two-hundred day moving average of $25.86. Orange County Bancorp, Inc. has a 1-year low of $20.97 and a 1-year high of $33.06.

Orange County Bancorp (NASDAQ:OBT) last released its earnings results on Wednesday, April 30th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.10. The company had revenue of $27.98 million during the quarter, compared to the consensus estimate of $28.10 million. Orange County Bancorp had a return on equity of 15.51% and a net margin of 19.47%. As a group, analysts anticipate that Orange County Bancorp, Inc. will post 2.83 EPS for the current year.

Orange County Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, June 4th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.14%. The ex-dividend date is Wednesday, June 4th. Orange County Bancorp’s dividend payout ratio is currently 21.58%.

Analyst Ratings Changes

Separately, Hovde Group started coverage on Orange County Bancorp in a research report on Monday, May 12th. They issued an “outperform” rating and a $30.50 target price for the company.

Hedge Funds Weigh In On Orange County Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its stake in shares of Orange County Bancorp by 19.6% in the 4th quarter. Ameriprise Financial Inc. now owns 22,916 shares of the company’s stock valued at $1,273,000 after buying an additional 3,752 shares during the period. Deutsche Bank AG boosted its stake in shares of Orange County Bancorp by 77.2% in the 4th quarter. Deutsche Bank AG now owns 6,167 shares of the company’s stock valued at $343,000 after buying an additional 2,686 shares during the period. Citadel Advisors LLC boosted its stake in shares of Orange County Bancorp by 17.0% in the 4th quarter. Citadel Advisors LLC now owns 15,693 shares of the company’s stock valued at $872,000 after buying an additional 2,281 shares during the period. American Century Companies Inc. boosted its stake in shares of Orange County Bancorp by 59.8% in the 4th quarter. American Century Companies Inc. now owns 53,753 shares of the company’s stock valued at $2,987,000 after buying an additional 20,118 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Orange County Bancorp by 6.6% in the 4th quarter. Northern Trust Corp now owns 42,933 shares of the company’s stock valued at $2,386,000 after buying an additional 2,668 shares during the period. Hedge funds and other institutional investors own 42.55% of the company’s stock.

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.