Charles Schwab Investment Management Inc. lifted its holdings in Orange County Bancorp, Inc. (NASDAQ:OBT - Free Report) by 100.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,844 shares of the company's stock after buying an additional 13,922 shares during the period. Charles Schwab Investment Management Inc. owned about 0.24% of Orange County Bancorp worth $651,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in OBT. Hudson Valley Investment Advisors Inc. ADV increased its holdings in shares of Orange County Bancorp by 95.8% in the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 1,178,905 shares of the company's stock worth $27,575,000 after buying an additional 576,721 shares during the last quarter. Meeder Advisory Services Inc. bought a new position in Orange County Bancorp during the 1st quarter valued at about $2,661,000. Carnegie Investment Counsel bought a new position in Orange County Bancorp during the 1st quarter valued at about $664,000. U.S. Capital Wealth Advisors LLC bought a new position in Orange County Bancorp during the 1st quarter valued at about $631,000. Finally, Bank of New York Mellon Corp grew its holdings in Orange County Bancorp by 91.8% during the 1st quarter. Bank of New York Mellon Corp now owns 53,772 shares of the company's stock valued at $1,258,000 after purchasing an additional 25,734 shares during the last quarter. 42.55% of the stock is currently owned by institutional investors.
Orange County Bancorp Stock Down 0.7%
Shares of OBT traded down $0.20 during mid-day trading on Friday, hitting $26.75. The company's stock had a trading volume of 24,362 shares, compared to its average volume of 30,480. The company's 50-day moving average is $26.21 and its 200-day moving average is $25.03. Orange County Bancorp, Inc. has a 52-week low of $20.97 and a 52-week high of $33.06. The firm 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 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 announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. The firm had revenue of $32.46 million during the quarter, compared to analysts' expectations of $29.00 million. Orange County Bancorp had a net margin of 19.84% and a return on equity of 14.19%. On average, equities research analysts forecast that Orange County Bancorp, Inc. will post 2.83 EPS for the current fiscal year.
Orange County Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Monday, September 8th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, September 8th. Orange County Bancorp's payout ratio is 20.31%.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on OBT shares. Hovde Group decreased their price target on Orange County Bancorp from $30.50 to $29.50 and set an "outperform" rating for the company in a research note on Tuesday, June 10th. Piper Sandler decreased their price target on Orange County Bancorp from $30.00 to $29.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $29.25.
View Our Latest Stock Analysis on OBT
About Orange County Bancorp
(
Free Report)
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.
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