Orange County Bancorp (NASDAQ:OBT) Hits New 1-Year High – Here’s Why
by Jessica Moore · The Cerbat GemOrange County Bancorp, Inc. (NASDAQ:OBT – Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $40.10 and last traded at $37.49, with a volume of 14253 shares changing hands. The stock had previously closed at $37.23.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered shares of Orange County Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.
Get Our Latest Stock Report on Orange County Bancorp
Orange County Bancorp Stock Performance
The company has a market capitalization of $489.46 million, a PE ratio of 10.74 and a beta of 0.42. The firm has a 50-day moving average of $34.83 and a two-hundred day moving average of $32.50. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.12.
Orange County Bancorp (NASDAQ:OBT – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. The business had revenue of $32.08 million for the quarter, compared to analyst estimates of $32.30 million. Orange County Bancorp had a return on equity of 16.09% and a net margin of 27.54%.
Orange County Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.72 dividend on an annualized basis and a yield of 2.0%. Orange County Bancorp’s dividend payout ratio is 21.18%.
Hedge Funds Weigh In On Orange County Bancorp
Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in Orange County Bancorp by 108.3% during the first quarter. Royal Bank of Canada now owns 1,029 shares of the company’s stock worth $33,000 after acquiring an additional 535 shares during the period. Quantinno Capital Management LP lifted its holdings in Orange County Bancorp by 25.9% during the first quarter. Quantinno Capital Management LP now owns 28,841 shares of the company’s stock valued at $922,000 after purchasing an additional 5,937 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Orange County Bancorp by 169.4% in the first quarter. Renaissance Technologies LLC now owns 22,900 shares of the company’s stock valued at $732,000 after purchasing an additional 14,400 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Orange County Bancorp in the first quarter valued at about $572,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Orange County Bancorp by 29.9% during the first quarter. Dimensional Fund Advisors LP now owns 126,936 shares of the company’s stock worth $4,060,000 after purchasing an additional 29,205 shares in the last quarter. Hedge funds and other institutional investors own 42.55% of the company’s stock.
Orange County Bancorp Company Profile
Orange County Bancorp, Inc (NASDAQ: OBT) is the bank holding company for Orange County Trust Bank, a community banking franchise headquartered in Goshen, New York. The company provides a full suite of financial services to individuals, small businesses and local organizations across Orange County and the surrounding Hudson Valley region.
Orange County Bancorp offers depository products that include checking and savings accounts, money market funds and certificates of deposit. On the lending side, the company extends commercial real estate and business loans, residential mortgage loans, consumer installment loans and home equity financing.