Alliancebernstein L.P. Sells 15,307 Shares of Orange County Bancorp, Inc. (NASDAQ:OBT)

Alliancebernstein L.P. lessened its stake in Orange County Bancorp, Inc. (NASDAQ:OBT - Free Report) by 13.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,751 shares of the company's stock after selling 15,307 shares during the quarter. Alliancebernstein L.P. owned about 0.89% of Orange County Bancorp worth $5,599,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in OBT. American Century Companies Inc. grew its holdings in shares of Orange County Bancorp by 59.8% in the 4th quarter. American Century Companies Inc. now owns 53,753 shares of the company's stock valued at $2,987,000 after buying an additional 20,118 shares during the period. LPL Financial LLC bought a new position in Orange County Bancorp during the fourth quarter worth about $645,000. JPMorgan Chase & Co. grew its stake in Orange County Bancorp by 129.0% in the fourth quarter. JPMorgan Chase & Co. now owns 19,100 shares of the company's stock valued at $1,061,000 after acquiring an additional 10,761 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of 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 in the last quarter. Finally, Barclays PLC raised its position in shares of Orange County Bancorp by 183.2% during the third quarter. Barclays PLC now owns 7,934 shares of the company's stock worth $478,000 after purchasing an additional 5,132 shares during the period. Institutional investors and hedge funds own 42.55% of the company's stock.

Orange County Bancorp Stock Up 6.3 %

Shares of NASDAQ:OBT traded up $1.40 during trading on Friday, hitting $23.53. 17,352 shares of the company's stock traded hands, compared to its average volume of 25,429. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The company has a 50-day moving average price of $24.23 and a 200-day moving average price of $26.75. Orange County Bancorp, Inc. has a 52 week low of $20.97 and a 52 week high of $33.06. The company has a market cap of $267.28 million, a price-to-earnings ratio of 9.53 and a beta of 0.46.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.05). Orange County Bancorp had a net margin of 19.47% and a return on equity of 15.51%. As a group, research analysts forecast that Orange County Bancorp, Inc. will post 2.83 EPS for the current fiscal year.

Orange County Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Orange County Bancorp's previous quarterly dividend of $0.13. Orange County Bancorp's dividend payout ratio is 21.05%.

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.