Orange County Bancorp (NASDAQ:OBT) Trading Down 0.5% - Time to Sell?

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

Analysts Set New Price Targets

Separately, Piper Sandler lifted their target price on Orange County Bancorp from $33.00 to $35.50 and gave the company an "overweight" rating in a research note on Friday, December 13th.

Orange County Bancorp Trading Down 2.8 %

The business's 50-day simple moving average is $25.47 and its 200-day simple moving average is $27.46. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $260.41 million, a price-to-earnings ratio of 9.36 and a beta of 0.42.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last announced 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, research analysts expect that Orange County Bancorp, Inc. will post 2.83 earnings per share for the current fiscal year.

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Orange County Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase from Orange County Bancorp's previous quarterly dividend of $0.13. Orange County Bancorp's dividend payout ratio is currently 21.05%.

Hedge Funds Weigh In On Orange County Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OBT. BNP Paribas Financial Markets acquired a new position in Orange County Bancorp in the fourth quarter valued at about $46,000. Public Employees Retirement System of Ohio acquired a new position in shares of Orange County Bancorp in the fourth quarter valued at approximately $60,000. Wells Fargo & Company MN increased its position in shares of Orange County Bancorp by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock worth $167,000 after acquiring an additional 652 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Orange County Bancorp during the fourth quarter worth $206,000. Finally, Two Sigma Investments LP lifted its position in Orange County Bancorp by 25.7% in the 4th quarter. Two Sigma Investments LP now owns 5,294 shares of the company's stock valued at $294,000 after acquiring an additional 1,084 shares in the last quarter. Institutional investors own 42.55% of the company's stock.

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.