Orange County Bancorp, Inc. (NASDAQ:OBT) is Hudson Valley Investment Advisors Inc. ADV's 8th Largest Position

Hudson Valley Investment Advisors Inc. ADV raised its stake in Orange County Bancorp, Inc. (NASDAQ:OBT - Free Report) by 95.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,178,905 shares of the company's stock after buying an additional 576,721 shares during the period. Orange County Bancorp comprises 3.3% of Hudson Valley Investment Advisors Inc. ADV's holdings, making the stock its 8th biggest holding. Hudson Valley Investment Advisors Inc. ADV owned about 10.38% of Orange County Bancorp worth $27,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in Orange County Bancorp by 59.8% in the fourth 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 period. Northern Trust Corp lifted its stake in Orange County Bancorp by 6.6% in the fourth quarter. Northern Trust Corp now owns 42,933 shares of the company's stock worth $2,386,000 after acquiring an additional 2,668 shares during the period. Bank of New York Mellon Corp lifted its stake in Orange County Bancorp by 50.5% in the fourth quarter. Bank of New York Mellon Corp now owns 28,038 shares of the company's stock worth $1,558,000 after acquiring an additional 9,403 shares during the period. Ameriprise Financial Inc. lifted its stake in Orange County Bancorp by 19.6% in the fourth quarter. Ameriprise Financial Inc. now owns 22,916 shares of the company's stock worth $1,273,000 after acquiring an additional 3,752 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Orange County Bancorp by 129.0% in the 4th quarter. JPMorgan Chase & Co. now owns 19,100 shares of the company's stock worth $1,061,000 after purchasing an additional 10,761 shares during the period. 42.55% of the stock is owned by hedge funds and other institutional investors.

Orange County Bancorp Stock Up 1.5%

Orange County Bancorp stock opened at $24.33 on Friday. The business has a fifty day moving average of $24.35 and a two-hundred day moving average of $25.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. The firm has a market cap of $276.97 million, a P/E ratio of 9.85 and a beta of 0.48. Orange County Bancorp, Inc. has a twelve month low of $20.97 and a twelve month 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 for the quarter, topping analysts' consensus estimates of $0.67 by $0.10. The firm had revenue of $27.98 million during the quarter, compared to analysts' expectations of $28.10 million. Orange County Bancorp had a return on equity of 15.51% and a net margin of 19.47%. On average, analysts forecast that Orange County Bancorp, Inc. will post 2.83 earnings per share for the current fiscal year.

Orange County Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, June 4th. Orange County Bancorp's payout ratio is 21.58%.

Insider Buying and Selling at Orange County Bancorp

In related news, EVP Michael J. Coulter sold 2,497 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 4,984 shares of the company's stock, valued at $130,431.28. This represents a 33.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gregory Sousa sold 2,440 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $24.61, for a total transaction of $60,048.40. Following the sale, the executive vice president now directly owns 10,280 shares of the company's stock, valued at $252,990.80. The trade was a 19.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,689 shares of company stock valued at $172,121. 9.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Hovde Group assumed coverage on shares of Orange County Bancorp in a research report on Monday, May 12th. They issued an "outperform" rating and a $30.50 price target for the company.

Orange County Bancorp 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.

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