Hudson Valley Investment Advisors Inc. ADV Grows Holdings in Orange County Bancorp, Inc. (NASDAQ:OBT)

Hudson Valley Investment Advisors Inc. ADV lifted its position in Orange County Bancorp, Inc. (NASDAQ:OBT - Free Report) by 95.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,178,905 shares of the company's stock after purchasing an additional 576,721 shares during the quarter. Orange County Bancorp accounts for 3.3% of Hudson Valley Investment Advisors Inc. ADV's portfolio, making the stock its 8th largest position. Hudson Valley Investment Advisors Inc. ADV owned about 10.38% of Orange County Bancorp worth $27,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its stake in shares of Orange County Bancorp by 19.6% during the fourth 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. Deutsche Bank AG increased its stake in Orange County Bancorp by 77.2% during the 4th quarter. Deutsche Bank AG now owns 6,167 shares of the company's stock worth $343,000 after purchasing an additional 2,686 shares in the last quarter. Citadel Advisors LLC lifted its holdings in shares of Orange County Bancorp by 17.0% in the fourth quarter. Citadel Advisors LLC now owns 15,693 shares of the company's stock valued at $872,000 after purchasing an additional 2,281 shares in the last quarter. American Century Companies Inc. boosted its position 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 acquiring an additional 20,118 shares during the last quarter. Finally, Northern Trust Corp grew its position in Orange County Bancorp by 6.6% in the fourth quarter. Northern Trust Corp now owns 42,933 shares of the company's stock valued at $2,386,000 after purchasing an additional 2,668 shares in the last quarter. 42.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Hovde Group cut their price objective on Orange County Bancorp from $30.50 to $29.50 and set an "outperform" rating for the company in a report on Tuesday.

Orange County Bancorp Price Performance

Orange County Bancorp stock traded down $0.12 during trading hours on Tuesday, reaching $24.53. 46,064 shares of the stock were exchanged, compared to its average volume of 28,185. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Orange County Bancorp, Inc. has a twelve month low of $20.97 and a twelve month high of $33.06. The company has a market cap of $321.44 million, a P/E ratio of 9.93 and a beta of 0.48. The stock has a 50 day moving average of $24.42 and a two-hundred day moving average of $25.79.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.67 by $0.10. The firm had revenue of $27.98 million during the quarter, compared to the consensus estimate of $28.10 million. Orange County Bancorp had a return on equity of 15.51% and a net margin of 19.47%. Equities analysts expect that Orange County Bancorp, Inc. will post 2.83 EPS for the current fiscal year.

Orange County Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, June 4th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $0.52 dividend on an annualized basis and a yield of 2.12%. Orange County Bancorp's payout ratio is 21.58%.

Insider Activity at Orange County Bancorp

In other news, Director Jon Schiller purchased 6,451 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average price of $23.25 per share, for a total transaction of $149,985.75. Following the transaction, the director now owns 12,446 shares of the company's stock, valued at approximately $289,369.50. This trade represents a 107.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joseph A. Ruhl sold 1,752 shares of the company'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 now owns 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 6,689 shares of company stock worth $172,121 over the last three months. Company insiders own 9.30% of the company's stock.

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.