Orange County Bancorp (NASDAQ:OBT) Trading 0.8% Higher – Still a Buy?

Orange County Bancorp, Inc. (NASDAQ:OBT) traded up 0.8% during mid-day trading on Wednesday . The company traded as high as $34.08 and last traded at $33.68. 40,289 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 43,484 shares. The stock had previously closed at $33.41.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $36.00 target price (up from $32.00) on shares of Orange County Bancorp in a research report on Thursday, February 5th. Wall Street Zen cut Orange County Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Hovde Group increased their price objective on Orange County Bancorp from $32.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Finally, Weiss Ratings raised Orange County Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Orange County Bancorp Stock Up 0.2%

The business has a 50-day simple moving average of $33.54 and a two-hundred day simple moving average of $31.09. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $456.54 million, a price-to-earnings ratio of 10.01 and a beta of 0.44.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Orange County Bancorp had a return on equity of 16.09% and a net margin of 27.54%.The company had revenue of $32.08 million during the quarter, compared to analysts’ expectations of $32.30 million.

Institutional Trading of Orange County Bancorp

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Orange County Bancorp by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 550,920 shares of the company’s stock valued at $13,889,000 after buying an additional 8,793 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Orange County Bancorp by 29.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 319,723 shares of the company’s stock valued at $8,262,000 after buying an additional 73,483 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Orange County Bancorp by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 258,623 shares of the company’s stock valued at $7,385,000 after buying an additional 8,955 shares during the period. Fourthstone LLC lifted its holdings in shares of Orange County Bancorp by 169.9% in the 4th quarter. Fourthstone LLC now owns 192,846 shares of the company’s stock valued at $5,506,000 after buying an additional 121,402 shares during the period. Finally, State Street Corp lifted its holdings in shares of Orange County Bancorp by 1.5% in the 4th quarter. State Street Corp now owns 166,234 shares of the company’s stock valued at $4,746,000 after buying an additional 2,446 shares during the period. 42.55% of the stock is 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.