TheStreet cut shares of Orange County Bancorp (NASDAQ:OBT – Get Rating) from a b rating to a c rating in a research report released on Friday, TheStreetRatingsTable reports.
Orange County Bancorp Price Performance
NASDAQ:OBT opened at $33.20 on Friday. The firm has a market capitalization of $186.92 million, a price-to-earnings ratio of 8.02 and a beta of 0.12. Orange County Bancorp has a 52-week low of $33.20 and a 52-week high of $42.61. The stock has a fifty day moving average of $36.91 and a 200 day moving average of $38.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.80 and a current ratio of 0.80.
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Orange County Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Thursday, June 2nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, June 1st. Orange County Bancorp's dividend payout ratio is 19.32%.
Institutional Investors Weigh In On Orange County Bancorp
A number of large investors have recently added to or reduced their stakes in OBT. Vanguard Group Inc. purchased a new stake in Orange County Bancorp during the first quarter valued at about $3,726,000. Banc Funds Co. LLC raised its position in Orange County Bancorp by 11.7% during the first quarter. Banc Funds Co. LLC now owns 478,164 shares of the company's stock valued at $19,131,000 after purchasing an additional 50,000 shares in the last quarter. BlackRock Inc. raised its position in Orange County Bancorp by 268.2% during the first quarter. BlackRock Inc. now owns 13,048 shares of the company's stock valued at $522,000 after purchasing an additional 9,504 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in Orange County Bancorp by 0.6% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 631,487 shares of the company's stock valued at $25,266,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Orange County Bancorp by 1.2% during the fourth quarter. Alliancebernstein L.P. now owns 231,001 shares of the company's stock valued at $9,159,000 after purchasing an additional 2,793 shares in the last quarter. Hedge funds and other institutional investors own 39.40% of the company's stock.
About Orange County Bancorp
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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 affluent individuals. It accepts various deposit products, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.
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