Banc Funds Co. LLC boosted its position in Orange County Bancorp, Inc. (NASDAQ:OBT – Get Rating) by 11.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,164 shares of the company's stock after purchasing an additional 50,000 shares during the quarter. Orange County Bancorp comprises 1.5% of Banc Funds Co. LLC's investment portfolio, making the stock its 13th biggest position. Banc Funds Co. LLC owned about 0.08% of Orange County Bancorp worth $19,131,000 at the end of the most recent reporting period.
Separately, Alliancebernstein L.P. lifted its stake in Orange County Bancorp by 1.2% in the 4th 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. Institutional investors own 39.40% of the company's stock.
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Analyst Ratings Changes
Separately, TheStreet cut shares of Orange County Bancorp from a "b" rating to a "c" rating in a research report on Friday, July 29th.
Orange County Bancorp Price Performance
Shares of Orange County Bancorp stock traded down $2.30 on Tuesday, hitting $35.57. 10 shares of the company traded hands, compared to its average volume of 2,004. The firm's 50-day simple moving average is $36.19 and its 200 day simple moving average is $38.21. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.12. The company has a market cap of $200.61 million, a P/E ratio of 11.27 and a beta of 0.12. Orange County Bancorp, Inc. has a 12-month low of $32.31 and a 12-month high of $42.61.
Orange County Bancorp (NASDAQ:OBT – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.58). Orange County Bancorp had a net margin of 22.59% and a return on equity of 10.52%. Analysts expect that Orange County Bancorp, Inc. will post 3.47 earnings per share for the current fiscal year.
Orange County Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, September 2nd will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, September 1st. Orange County Bancorp's payout ratio is presently 23.81%.
Orange County Bancorp Profile
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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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