Nuveen LLC Buys Shares of 19,930 Orange County Bancorp, Inc. $OBT

Key Points

• Nuveen LLC acquired 19,930 shares of Orange County Bancorp, valued at approximately $466,000, representing a 0.18% ownership stake in the company.
• The stock recently opened at $26.95, with a market capitalization of $360.05 million and an average price target of $29.25 according to MarketBeat.com.
• Orange County Bancorp declared a quarterly dividend of $0.13 per share, which will be paid to stockholders on September 16th, representing a 1.9% annual yield.

Nuveen LLC acquired a new stake in shares of Orange County Bancorp, Inc. (NASDAQ:OBT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,930 shares of the company's stock, valued at approximately $466,000. Nuveen LLC owned about 0.18% of Orange County Bancorp at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of OBT. Wells Fargo & Company MN lifted its position in shares of Orange County Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock worth $167,000 after buying an additional 652 shares during the last quarter. Barclays PLC lifted its position in shares of Orange County Bancorp by 29.7% in the 4th quarter. Barclays PLC now owns 10,292 shares of the company's stock worth $572,000 after buying an additional 2,358 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Orange County Bancorp by 40.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,211 shares of the company's stock worth $956,000 after buying an additional 4,966 shares during the last quarter. Northern Trust Corp lifted its position in shares of Orange County Bancorp by 6.6% in the 4th quarter. Northern Trust Corp now owns 42,933 shares of the company's stock worth $2,386,000 after buying an additional 2,668 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Orange County Bancorp by 19.6% in the 4th quarter. Ameriprise Financial Inc. now owns 22,916 shares of the company's stock worth $1,273,000 after buying an additional 3,752 shares during the last quarter. 42.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OBT shares. Hovde Group reduced their price target on shares of Orange County Bancorp from $30.50 to $29.50 and set an "outperform" rating on the stock in a research report on Tuesday, June 10th. Piper Sandler reduced their price target on shares of Orange County Bancorp from $30.00 to $29.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $29.25.

Orange County Bancorp Stock Performance

NASDAQ:OBT traded down $0.20 during mid-day trading on Friday, hitting $26.75. The stock had a trading volume of 24,362 shares, compared to its average volume of 30,480. The stock has a market capitalization of $357.38 million, a price-to-earnings ratio of 10.47 and a beta of 0.47. The company has a 50 day simple moving average of $26.21 and a 200-day simple moving average of $25.02. Orange County Bancorp, Inc. has a 52 week low of $20.97 and a 52 week high of $33.06. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.11. The firm had revenue of $32.46 million for the quarter, compared to the consensus estimate of $29.00 million. Orange County Bancorp had a net margin of 19.84% and a return on equity of 14.19%. On average, research analysts expect that Orange County Bancorp, Inc. will post 2.83 earnings per share for the current fiscal year.

Orange County Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.52 annualized dividend and a yield of 1.9%. Orange County Bancorp's dividend payout ratio (DPR) is presently 20.31%.

Orange County Bancorp 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.