Orange County Bancorp (NASDAQ:OBT) Shares Down 0.5% – Time to Sell?

Orange County Bancorp, Inc. (NASDAQ:OBT)’s share price traded down 0.5% on Monday . The stock traded as low as $36.83 and last traded at $37.39. 68,888 shares changed hands during mid-day trading, a decline of 21% from the average session 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 research report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.00.

Orange County Bancorp Stock Down 0.5%

The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $501.40 million, a PE ratio of 11.00 and a beta of 0.41. The business’s 50-day moving average price is $35.63 and its 200-day moving average price is $33.65.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The firm had revenue of $32.08 million for the quarter, compared to the consensus estimate 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.9%. Orange County Bancorp’s dividend payout ratio (DPR) is 21.18%.

Hedge Funds Weigh In On Orange County Bancorp

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in Orange County Bancorp by 30.4% during the first quarter. Bank of America Corp DE now owns 47,658 shares of the company’s stock valued at $1,524,000 after purchasing an additional 11,105 shares during the last quarter. Royal Bank of Canada increased its position in Orange County Bancorp by 108.3% in the 1st quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock worth $33,000 after purchasing an additional 535 shares during the last quarter. Quantinno Capital Management LP increased its position in Orange County Bancorp by 25.9% in the 1st quarter. Quantinno Capital Management LP now owns 28,841 shares of the company’s stock worth $922,000 after purchasing an additional 5,937 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Orange County Bancorp by 169.4% during the 1st quarter. Renaissance Technologies LLC now owns 22,900 shares of the company’s stock worth $732,000 after purchasing an additional 14,400 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Orange County Bancorp during the 1st quarter worth about $572,000. 42.55% of the stock is owned by institutional investors and hedge funds.

About Orange County Bancorp

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.