Orange County Bancorp (NASDAQ:OBT) Stock Price Up 0.8% – Still a Buy?

Orange County Bancorp, Inc. (NASDAQ:OBTGet Free Report)’s stock price traded up 0.8% during trading on Wednesday . The company traded as high as $34.08 and last traded at $33.68. 40,289 shares were traded during mid-day trading, a decline of 7% from the average session volume of 43,484 shares. The stock had previously closed at $33.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Hovde Group raised their price target on shares of Orange County Bancorp from $32.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Weiss Ratings upgraded shares of Orange County Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Piper Sandler restated an “overweight” rating and issued a $36.00 price target (up from $32.00) on shares of Orange County Bancorp in a report on Thursday, February 5th. Finally, Wall Street Zen cut shares of Orange County Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Get Our Latest Stock Analysis on OBT

Orange County Bancorp Price Performance

The stock has a market capitalization of $451.65 million, a price-to-earnings ratio of 9.91 and a beta of 0.44. The business’s fifty day moving average price is $33.43 and its 200-day moving average price is $31.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92.

Orange County Bancorp (NASDAQ:OBTGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The firm had revenue of $32.08 million during the quarter, compared to analysts’ expectations of $32.30 million. Orange County Bancorp had a net margin of 27.54% and a return on equity of 16.09%.

Orange County Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, March 4th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, March 4th. Orange County Bancorp’s dividend payout ratio (DPR) is currently 21.18%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its position in shares of Orange County Bancorp by 5,416.7% during the third quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock valued at $25,000 after purchasing an additional 975 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Orange County Bancorp during the second quarter valued at about $28,000. Royal Bank of Canada lifted its position in shares of Orange County Bancorp by 108.3% during the first quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock valued at $33,000 after purchasing an additional 535 shares in the last quarter. CWM LLC lifted its position in shares of Orange County Bancorp by 174.5% during the third quarter. CWM LLC now owns 1,356 shares of the company’s stock valued at $34,000 after purchasing an additional 862 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Orange County Bancorp by 140.0% during the third quarter. New York State Common Retirement Fund now owns 3,086 shares of the company’s stock valued at $78,000 after purchasing an additional 1,800 shares in the last quarter. 42.55% of the stock is currently owned by institutional investors and hedge funds.

Orange County Bancorp Company Profile

(Get Free Report)

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.

Further Reading

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