Insider Buying: Orange County Bancorp, Inc. (NASDAQ:OBT) CEO Purchases 400 Shares of Stock

Orange County Bancorp, Inc. (NASDAQ:OBT) CEO Michael J. Gilfeather acquired 400 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $55.67 per share, with a total value of $22,268.00. Following the completion of the purchase, the chief executive officer now owns 43,295 shares in the company, valued at approximately $2,410,232.65. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Orange County Bancorp Price Performance

OBT stock opened at $53.27 on Tuesday. The stock has a market capitalization of $301.72 million, a price-to-earnings ratio of 10.40 and a beta of 0.36. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. Orange County Bancorp, Inc. has a 52-week low of $41.00 and a 52-week high of $64.01. The stock’s fifty day simple moving average is $56.76 and its 200-day simple moving average is $52.79.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.86). Orange County Bancorp had a return on equity of 16.91% and a net margin of 20.31%. The business had revenue of $35.61 million during the quarter, compared to analyst estimates of $26.60 million. Equities research analysts expect that Orange County Bancorp, Inc. will post 5.91 EPS for the current year.

Orange County Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, September 4th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Wednesday, September 4th. Orange County Bancorp’s dividend payout ratio (DPR) is 17.97%.

Hedge Funds Weigh In On Orange County Bancorp

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Orange County Bancorp by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock worth $9,267,000 after buying an additional 2,492 shares during the last quarter. Hennessy Advisors Inc. grew its position in Orange County Bancorp by 28.9% during the second 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. Bank of New York Mellon Corp increased its stake in 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 acquiring an additional 1,376 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Orange County Bancorp by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,564 shares of the company’s stock worth $399,000 after purchasing an additional 674 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Orange County Bancorp in the 3rd quarter valued at about $110,000. Hedge funds and other institutional investors own 42.55% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler reduced their price objective on shares of Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating on the stock 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.