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

Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) CEO Michael J. Gilfeather bought 400 shares of Orange County Bancorp stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $55.67 per share, for a total transaction of $22,268.00. Following the completion of the acquisition, the chief executive officer now directly owns 43,295 shares of the company's stock, valued at $2,410,232.65. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Orange County Bancorp Trading Up 0.1 %

NASDAQ OBT traded up $0.05 during trading hours on Monday, hitting $53.27. 14,198 shares of the company's stock were exchanged, compared to its average volume of 10,740. Orange County Bancorp, Inc. has a 1-year low of $41.00 and a 1-year high of $64.01. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a 50-day simple moving average of $56.76 and a 200 day simple moving average of $52.79. The firm has a market cap of $301.72 million, a price-to-earnings ratio of 10.40 and a beta of 0.36.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.57 EPS for the quarter, missing the consensus estimate 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 company had revenue of $35.61 million for the quarter, compared to analyst estimates of $26.60 million. On average, equities analysts forecast that Orange County Bancorp, Inc. will post 5.91 EPS for the current fiscal year.

Orange County Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Piper Sandler cut their price target on shares of Orange County Bancorp from $69.00 to $66.00 and set an "overweight" rating on the stock in a research report on Thursday.

Institutional Trading of Orange County Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. lifted its stake in shares of Orange County Bancorp by 28.9% in the second quarter. Hennessy Advisors Inc. now owns 34,809 shares of the company's stock valued at $1,841,000 after buying an additional 7,809 shares in the last quarter. Vanguard Group Inc. boosted its stake in Orange County Bancorp by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 201,453 shares of the company's stock valued at $9,267,000 after purchasing an additional 2,492 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Orange County Bancorp by 9.8% during 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 in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Orange County Bancorp by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 22,730 shares of the company's stock worth $1,202,000 after purchasing an additional 1,376 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Orange County Bancorp in the third quarter valued at approximately $110,000. 42.55% of the stock is 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.