Keybank National Association OH Has $819,000 Stock Position in Orange County Bancorp, Inc. (NASDAQ:OBT)

Keybank National Association OH raised its stake in shares of Orange County Bancorp, Inc. (NASDAQ:OBT - Free Report) by 100.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,000 shares of the company's stock after purchasing an additional 17,500 shares during the quarter. Keybank National Association OH owned 0.31% of Orange County Bancorp worth $819,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in shares of Orange County Bancorp in the 4th quarter worth approximately $46,000. Public Employees Retirement System of Ohio acquired a new position in shares of Orange County Bancorp in the 4th quarter worth approximately $60,000. Wells Fargo & Company MN boosted its holdings 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 acquiring an additional 652 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Orange County Bancorp in the 4th quarter worth approximately $206,000. Finally, Rhumbline Advisers boosted its holdings in shares of Orange County Bancorp by 84.7% in the 1st quarter. Rhumbline Advisers now owns 10,501 shares of the company's stock worth $246,000 after acquiring an additional 4,816 shares in the last quarter. 42.55% of the stock is owned by institutional investors and hedge funds.

Orange County Bancorp Stock Performance

OBT stock opened at $27.55 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. The company has a 50 day moving average price of $25.27 and a 200 day moving average price of $25.20. Orange County Bancorp, Inc. has a fifty-two week low of $20.97 and a fifty-two week high of $33.06. The stock has a market capitalization of $360.89 million, a PE ratio of 11.41 and a beta of 0.47.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.10. Orange County Bancorp had a net margin of 18.86% and a return on equity of 14.41%. The firm had revenue of $27.98 million during the quarter, compared to analysts' expectations of $28.10 million. Analysts forecast that Orange County Bancorp, Inc. will post 2.83 EPS for the current year.

Orange County Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, June 4th. Orange County Bancorp's payout ratio is 21.58%.

Insider Buying and Selling at Orange County Bancorp

In other Orange County Bancorp news, Director Jon Schiller bought 6,451 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was bought at an average price of $23.25 per share, for a total transaction of $149,985.75. Following the transaction, the director owned 12,446 shares of the company's stock, valued at approximately $289,369.50. The trade was a 107.61% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael J. Coulter sold 2,497 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $26.17, for a total transaction of $65,346.49. Following the sale, the executive vice president owned 4,984 shares of the company's stock, valued at $130,431.28. The trade was a 33.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,689 shares of company stock worth $172,121. 9.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Hovde Group dropped their price objective on shares of Orange County Bancorp from $30.50 to $29.50 and set an "outperform" rating for the company in a research report on Tuesday, June 10th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.