Dimensional Fund Advisors LP Has $4.06 Million Position in Orange County Bancorp, Inc. $OBT

Key Points

• Dimensional Fund Advisors increased its Orange County Bancorp stake by 29.9% in the first quarter, holding 126,936 shares valued at approximately $4.06 million. Institutional investors and hedge funds collectively own 42.55% of the company.
• Orange County Bancorp reported quarterly EPS of $1.02, beating analyst estimates of $0.80, though revenue of $27.82 million fell short of the $33 million consensus forecast. The company maintains a quarterly dividend of $0.18, equivalent to a 1.8% yield.
• Analyst sentiment remains positive, with three Buy ratings and one Hold rating, an overall “Moderate Buy” consensus, and an average price target of $39.25. However, company insiders sold 4,547 shares worth about $176,136 over the past 90 days.

Dimensional Fund Advisors LP raised its holdings in shares of Orange County Bancorp, Inc. (NASDAQ:OBT - Free Report) by 29.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,936 shares of the company's stock after purchasing an additional 29,205 shares during the quarter. Dimensional Fund Advisors LP owned 0.95% of Orange County Bancorp worth $4,060,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Fourthstone LLC lifted its stake in shares of Orange County Bancorp by 169.9% in the fourth quarter. Fourthstone LLC now owns 192,846 shares of the company's stock valued at $5,506,000 after buying an additional 121,402 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Orange County Bancorp by 29.8% during the second quarter. The Manufacturers Life Insurance Company now owns 319,723 shares of the company's stock valued at $8,262,000 after buying an additional 73,483 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Orange County Bancorp during the second quarter worth about $1,638,000. Marshall Wace LLP bought a new stake in shares of Orange County Bancorp during the second quarter worth about $986,000. Finally, Bank of America Corp DE raised its holdings in shares of Orange County Bancorp by 181.0% in the 2nd quarter. Bank of America Corp DE now owns 52,872 shares of the company's stock worth $1,366,000 after acquiring an additional 34,059 shares during the last quarter. Institutional investors and hedge funds own 42.55% of the company's stock.

Orange County Bancorp Stock Performance

Shares of OBT opened at $38.94 on Thursday. The stock has a 50 day moving average of $37.15 and a 200 day moving average of $34.72. The company has a market capitalization of $522.19 million, a price-to-earnings ratio of 10.97 and a beta of 0.41. Orange County Bancorp, Inc. has a 12 month low of $23.25 and a 12 month high of $40.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.22. The business had revenue of $27.82 million for the quarter, compared to analysts' expectations of $33.00 million. Orange County Bancorp had a return on equity of 16.80% and a net margin of 30.80%.

Orange County Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, June 4th. Orange County Bancorp's payout ratio is 20.28%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Hovde Group raised their price target on shares of Orange County Bancorp from $40.00 to $42.50 and gave the company an "outperform" rating in a research report on Friday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Orange County Bancorp in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Orange County Bancorp presently has an average rating of "Moderate Buy" and an average price target of $39.25.

Insider Activity

In related news, SVP Stephen Rooney sold 1,500 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $38.71, for a total transaction of $58,065.00. Following the completion of the transaction, the senior vice president owned 8,606 shares in the company, valued at approximately $333,138.26. This represents a 14.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory Sousa sold 1,882 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $38.75, for a total transaction of $72,927.50. Following the sale, the executive vice president owned 10,572 shares of the company's stock, valued at $409,665. This trade represents a 15.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,547 shares of company stock valued at $176,136. 8.20% of the stock is owned by company insiders.

About Orange County Bancorp

Orange County Bancorp, Inc NASDAQ: OBT is the bank holding company for Orange County Trust Bank, a community banking franchise headquartered in Goshen, New York. The company provides a full suite of financial services to individuals, small businesses and local organizations across Orange County and the surrounding Hudson Valley region.

Orange County Bancorp offers depository products that include checking and savings accounts, money market funds and certificates of deposit. On the lending side, the company extends commercial real estate and business loans, residential mortgage loans, consumer installment loans and home equity financing.

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