Orange County Bancorp, Inc. (NASDAQ:OBT) Shares Acquired by Keybank National Association OH

Keybank National Association OH increased its stake in shares of Orange County Bancorp, Inc. (NASDAQ:OBT - Free Report) by 100.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 35,000 shares of the company's stock after acquiring an additional 17,500 shares during the period. Keybank National Association OH owned 0.31% of Orange County Bancorp worth $819,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hudson Valley Investment Advisors Inc. ADV grew its holdings in shares of Orange County Bancorp by 95.8% during the first 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 in the last quarter. American Century Companies Inc. lifted its holdings in Orange County Bancorp by 59.8% during the 4th quarter. American Century Companies Inc. now owns 53,753 shares of the company's stock worth $2,987,000 after purchasing an additional 20,118 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in Orange County Bancorp by 100.1% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 25,985 shares of the company's stock worth $608,000 after purchasing an additional 12,996 shares during the last quarter. LPL Financial LLC bought a new position in shares of Orange County Bancorp in the 4th quarter valued at $645,000. Finally, JPMorgan Chase & Co. grew its position in Orange County Bancorp by 129.0% during the 4th quarter. JPMorgan Chase & Co. now owns 19,100 shares of the company's stock worth $1,061,000 after acquiring an additional 10,761 shares during the last quarter. Institutional investors and hedge funds own 42.55% of the company's stock.

Wall Street Analyst Weigh In

Separately, Hovde Group decreased their target price 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.

Insider Transactions at Orange County Bancorp

In related news, Director Jon Schiller acquired 6,451 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were bought at an average price of $23.25 per share, with a total value of $149,985.75. Following the completion of the transaction, the director directly owned 12,446 shares in the company, valued at $289,369.50. This trade represents a 107.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph A. Ruhl sold 1,752 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $26.67, for a total value of $46,725.84. Following the sale, the insider directly owned 31,485 shares in the company, valued at approximately $839,704.95. The trade was a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,689 shares of company stock worth $172,121 over the last quarter. 9.30% of the stock is owned by corporate insiders.

Orange County Bancorp Trading Up 1.0%

Shares of Orange County Bancorp stock traded up $0.27 during trading on Thursday, reaching $27.81. 171,368 shares of the stock were exchanged, compared to its average volume of 34,391. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The stock's fifty day moving average is $25.52 and its 200 day moving average is $25.23. The firm has a market cap of $364.31 million, a price-to-earnings ratio of 11.52 and a beta of 0.47. Orange County Bancorp, Inc. has a 1 year low of $20.97 and a 1 year high of $33.06.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $28.10 million. As a group, equities research analysts expect that Orange County Bancorp, Inc. will post 2.83 earnings per share for the current fiscal year.

Orange County Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Wednesday, June 4th. Orange County Bancorp's payout ratio is 21.58%.

About Orange County Bancorp

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.