Hsbc Holdings PLC Purchases New Holdings in Orange County Bancorp, Inc. $OBT

Hsbc Holdings PLC acquired a new position in Orange County Bancorp, Inc. (NASDAQ:OBT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 43,429 shares of the company’s stock, valued at approximately $1,597,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Orange County Bancorp during the second quarter valued at approximately $72,094,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Orange County Bancorp in the second quarter worth approximately $11,311,000. Fourthstone LLC increased its position in shares of Orange County Bancorp by 169.9% during the fourth quarter. Fourthstone LLC now owns 192,846 shares of the company’s stock worth $5,506,000 after purchasing an additional 121,402 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Orange County Bancorp by 29.8% during the second quarter. The Manufacturers Life Insurance Company now owns 319,723 shares of the company’s stock worth $8,262,000 after purchasing an additional 73,483 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new position in Orange County Bancorp in the 2nd quarter valued at $1,638,000. 42.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Orange County Bancorp

In related news, SVP Stephen Rooney sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $38.71, for a total value of $58,065.00. Following the completion of the sale, the senior vice president owned 8,606 shares of the company’s stock, valued at approximately $333,138.26. This represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Gregory Sousa sold 1,882 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $38.75, for a total transaction of $72,927.50. Following the completion of the sale, the executive vice president directly owned 10,572 shares of the company’s stock, valued at $409,665. This represents a 15.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 4,547 shares of company stock valued at $176,136. 8.20% of the stock is owned by company insiders.

Orange County Bancorp Stock Performance

Shares of Orange County Bancorp stock opened at $38.10 on Monday. The stock has a market cap of $510.84 million, a P/E ratio of 10.73 and a beta of 0.41. The stock’s 50 day simple moving average is $37.77 and its 200-day simple moving average is $35.27. Orange County Bancorp, Inc. has a 1-year low of $23.25 and a 1-year high of $40.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.91.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.22. Orange County Bancorp had a return on equity of 16.44% and a net margin of 30.80%.The business had revenue of $27.82 million during the quarter, compared to analyst estimates of $33.00 million.

Orange County Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, September 4th. Orange County Bancorp’s dividend payout ratio is presently 20.28%.

Analysts Set New Price Targets

A number of research analysts have weighed in on OBT shares. Weiss Ratings restated a “buy (b)” rating on shares of Orange County Bancorp in a report on Friday, June 26th. Hovde Group upped their target price on shares of Orange County Bancorp from $40.00 to $42.50 and gave the stock an “outperform” rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

Orange County Bancorp Profile

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.