Shares of Orange County Bancorp, Inc. (NASDAQ:OBT – Get Free Report) traded down 0.5% during mid-day trading on Monday . The company traded as low as $36.83 and last traded at $37.39. 68,888 shares traded hands during trading, a decline of 21% from the average daily volume of 87,118 shares. The stock had previously closed at $37.56.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “buy (b)” rating on shares of Orange County Bancorp in a report on Friday, June 26th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Orange County Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.
Get Our Latest Research Report on Orange County Bancorp
Orange County Bancorp Trading Down 1.1%
Orange County Bancorp (NASDAQ:OBT – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.07. Orange County Bancorp had a net margin of 27.54% and a return on equity of 16.09%. The company had revenue of $32.08 million during the quarter, compared to analyst estimates of $32.30 million.
Orange County Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.72 annualized dividend and a yield of 1.9%. Orange County Bancorp’s dividend payout ratio (DPR) is 21.18%.
Institutional Investors Weigh In On Orange County Bancorp
Several institutional investors and hedge funds have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. grew its stake in shares of Orange County Bancorp by 230.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 12,283 shares of the company’s stock valued at $287,000 after buying an additional 8,569 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Orange County Bancorp by 107.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,036 shares of the company’s stock worth $141,000 after acquiring an additional 3,132 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Orange County Bancorp by 85.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 36,838 shares of the company’s stock worth $862,000 after acquiring an additional 16,929 shares in the last quarter. Jane Street Group LLC purchased a new position in Orange County Bancorp in the 1st quarter worth approximately $204,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Orange County Bancorp in the 2nd quarter worth approximately $28,000. Hedge funds and other institutional investors own 42.55% of the company’s stock.
Orange County Bancorp Company 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.
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