Quadrature Capital Ltd Makes New Investment in Orange County Bancorp, Inc. (NASDAQ:OBT)

Quadrature Capital Ltd acquired a new position in Orange County Bancorp, Inc. (NASDAQ:OBT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,353 shares of the company’s stock, valued at approximately $379,000.

A number of other hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of Orange County Bancorp in the third quarter worth $110,000. Dimensional Fund Advisors LP boosted its holdings in 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 buying an additional 674 shares during the period. Bank of New York Mellon Corp increased its stake in Orange County Bancorp by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 22,730 shares of the company’s stock worth $1,202,000 after buying an additional 1,376 shares in the last quarter. Hennessy Advisors Inc. raised its holdings 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. Finally, Vanguard Group Inc. lifted its position in shares of Orange County Bancorp by 1.3% in the first quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock valued at $9,267,000 after acquiring an additional 2,492 shares in the last quarter. Institutional investors own 42.55% of the company’s stock.

Insider Buying and Selling at Orange County Bancorp

In other Orange County Bancorp news, insider Joseph A. Ruhl sold 910 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $57.75, for a total transaction of $52,552.50. Following the completion of the transaction, the insider now owns 14,464 shares in the company, valued at $835,296. This trade represents a 5.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Listner sold 589 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.40, for a total transaction of $34,986.60. Following the sale, the senior vice president now owns 3,072 shares in the company, valued at $182,476.80. This represents a 16.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,925 shares of company stock worth $110,969 in the last quarter. 10.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their target price on Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st.

Orange County Bancorp Trading Down 0.6 %

Orange County Bancorp stock opened at $58.87 on Tuesday. 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 firm’s 50 day moving average price is $57.73 and its 200-day moving average price is $54.94. Orange County Bancorp, Inc. has a 1 year low of $41.00 and a 1 year high of $66.11. The stock has a market cap of $333.79 million, a P/E ratio of 11.50 and a beta of 0.40.

Orange County Bancorp (NASDAQ:OBT) last announced 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 net margin of 20.31% and a return on equity of 16.37%. The company had revenue of $35.61 million during the quarter, compared to the consensus estimate of $26.60 million. On average, equities analysts predict that Orange County Bancorp, Inc. will post 4.93 earnings per share for the current fiscal year.

Orange County Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This is a positive change from Orange County Bancorp’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a yield of 1.70%. Orange County Bancorp’s dividend payout ratio is presently 19.53%.

Orange County Bancorp Company Profile

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.