Orange County Bancorp, Inc. (NASDAQ:OBT) Plans Quarterly Dividend of $0.18

Orange County Bancorp, Inc. (NASDAQ:OBT) declared a quarterly dividend on Thursday, August 20th. Stockholders of record on Friday, September 4th will be paid a dividend of 0.18 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th.

Orange County Bancorp has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings.

Orange County Bancorp Stock Down 1.2%

Shares of Orange County Bancorp stock opened at $37.50 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a market cap of $502.88 million, a price-to-earnings ratio of 10.56 and a beta of 0.41. The firm’s 50-day moving average is $37.82 and its two-hundred day moving average is $35.30. Orange County Bancorp has a 1 year low of $23.25 and a 1 year high of $40.10.

Orange County Bancorp (NASDAQ:OBT) last posted its earnings results on Tuesday, July 28th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.22. Orange County Bancorp had a return on equity of 16.44% and a net margin of 30.80%.The company had revenue of $27.82 million during the quarter, compared to analyst estimates of $33.00 million.

Insiders Place Their Bets

In related news, SVP Stephen Rooney sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $38.71, for a total transaction of $58,065.00. Following the completion of the transaction, the senior vice president owned 8,606 shares of the company’s stock, valued at $333,138.26. This trade represents a 14.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory Sousa sold 1,882 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $38.75, for a total value of $72,927.50. Following the completion of the transaction, the executive vice president directly owned 10,572 shares of the company’s stock, valued at approximately $409,665. This trade represents a 15.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 4,547 shares of company stock worth $176,136 in the last quarter. Company insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Orange County Bancorp

A number of large investors have recently added to or reduced their stakes in OBT. Russell Investments Group Ltd. raised its position in shares of Orange County Bancorp by 5,416.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock worth $25,000 after purchasing an additional 975 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Orange County Bancorp by 108.3% in 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 last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Orange County Bancorp in the second quarter worth approximately $40,000. Legal & General Group Plc purchased a new stake in shares of Orange County Bancorp during the second quarter worth approximately $45,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Orange County Bancorp by 706.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company’s stock worth $89,000 after purchasing an additional 3,025 shares in the last quarter. 42.55% of the stock is currently owned by institutional investors and hedge funds.

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.