Orange County Bancorp (NASDAQ:OBT) Trading Down 0.5% – Should You Sell?

Shares of Orange County Bancorp, Inc. (NASDAQ:OBT) traded down 0.5% during mid-day trading on Thursday . The company traded as low as $24.00 and last traded at $24.16. 9,966 shares were traded during mid-day trading, a decline of 59% from the average session volume of 24,094 shares. The stock had previously closed at $24.27.

Analyst Ratings Changes

Separately, Piper Sandler raised their target price on Orange County Bancorp from $33.00 to $35.50 and gave the stock an “overweight” rating in a research report on Friday, December 13th.

Orange County Bancorp Trading Down 2.4 %

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $267.85 million, a PE ratio of 9.55 and a beta of 0.42. The stock’s fifty day simple moving average is $25.47 and its 200 day simple moving average is $27.46.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Orange County Bancorp had a net margin of 19.47% and a return on equity of 15.51%. On average, sell-side analysts predict that Orange County Bancorp, Inc. will post 2.83 earnings per share for the current year.

Orange County Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.52 annualized dividend and a dividend yield of 2.21%. This is an increase from Orange County Bancorp’s previous quarterly dividend of $0.13. Orange County Bancorp’s dividend payout ratio (DPR) is 21.05%.

Hedge Funds Weigh In On Orange County Bancorp

A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in shares of Orange County Bancorp during the 4th quarter valued at $46,000. Public Employees Retirement System of Ohio bought a new stake in Orange County Bancorp during the fourth quarter valued at about $60,000. Wells Fargo & Company MN lifted its position in shares of Orange County Bancorp by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock valued at $167,000 after acquiring an additional 652 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Orange County Bancorp in the fourth quarter worth about $206,000. Finally, Two Sigma Investments LP grew its position in shares of Orange County Bancorp by 25.7% during the fourth quarter. Two Sigma Investments LP now owns 5,294 shares of the company’s stock worth $294,000 after purchasing an additional 1,084 shares in the last quarter. 42.55% of the stock is currently owned by institutional investors.

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.