TheStreet lowered shares of Orange County Bancorp (NASDAQ:OBT – Get Rating) from a b rating to a c rating in a report issued on Friday, TheStreetRatingsTable reports.
Orange County Bancorp Stock Down 1.2 %
Shares of NASDAQ:OBT opened at $33.20 on Friday. Orange County Bancorp has a 52-week low of $33.20 and a 52-week high of $42.61. The business has a fifty day moving average of $36.91 and a two-hundred day moving average of $38.86. The stock has a market cap of $186.92 million, a P/E ratio of 8.02 and a beta of 0.12. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.12.
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Orange County Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Thursday, June 2nd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $0.80 annualized dividend and a yield of 2.41%. Orange County Bancorp's dividend payout ratio is presently 19.32%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Orange County Bancorp by 268.2% in the first quarter. BlackRock Inc. now owns 13,048 shares of the company's stock worth $522,000 after purchasing an additional 9,504 shares during the period. Vanguard Group Inc. bought a new position in Orange County Bancorp during the first quarter worth about $3,726,000. The Manufacturers Life Insurance Company increased its holdings in shares of Orange County Bancorp by 2.0% in the first quarter. The Manufacturers Life Insurance Company now owns 131,436 shares of the company's stock valued at $5,259,000 after purchasing an additional 2,563 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Orange County Bancorp by 1.2% during the fourth quarter. Alliancebernstein L.P. now owns 231,001 shares of the company's stock worth $9,159,000 after purchasing an additional 2,793 shares in the last quarter. Finally, Banc Funds Co. LLC lifted its position in Orange County Bancorp by 11.7% in the 1st quarter. Banc Funds Co. LLC now owns 478,164 shares of the company's stock valued at $19,131,000 after acquiring an additional 50,000 shares in the last quarter. Institutional investors and hedge funds 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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