Renaissance Technologies LLC Purchases 14,400 Shares of Orange County Bancorp, Inc. $OBT

Renaissance Technologies LLC grew its holdings in shares of Orange County Bancorp, Inc. (NASDAQ:OBT) by 169.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,900 shares of the company’s stock after purchasing an additional 14,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.17% of Orange County Bancorp worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in Orange County Bancorp by 5,416.7% during the third quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock valued at $25,000 after buying an additional 975 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Orange County Bancorp in the second quarter worth approximately $28,000. Tower Research Capital LLC TRC boosted its stake in shares of Orange County Bancorp by 706.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company’s stock worth $89,000 after acquiring an additional 3,025 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Orange County Bancorp during the 2nd quarter worth $104,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Orange County Bancorp by 107.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,036 shares of the company’s stock valued at $141,000 after acquiring an additional 3,132 shares during the period. Institutional investors own 42.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on OBT. Weiss Ratings restated a “buy (b)” rating on shares of Orange County Bancorp in a research note on Friday, June 26th. Hovde Group lifted their target price on Orange County Bancorp from $40.00 to $42.50 and gave the company an “outperform” rating in a research report on Friday, July 31st. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.25.

Orange County Bancorp Trading Up 0.2%

Orange County Bancorp stock opened at $39.19 on Friday. The firm has a 50 day moving average of $37.34 and a 200 day moving average of $34.82. The firm has a market capitalization of $525.46 million, a price-to-earnings ratio of 11.04 and a beta of 0.41. Orange County Bancorp, Inc. has a 12-month low of $23.25 and a 12-month high of $40.10. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.11.

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

Orange County Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Thursday, June 4th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, June 4th. Orange County Bancorp’s dividend payout ratio (DPR) is presently 20.28%.

Insiders Place Their Bets

In related news, SVP Stephen Rooney sold 1,500 shares of Orange County Bancorp 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 transaction, the senior vice president owned 8,606 shares in the company, valued at approximately $333,138.26. The trade was a 14.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gregory Sousa sold 1,882 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $38.75, for a total transaction 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 $409,665. This represents a 15.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,547 shares of company stock worth $176,136. 8.20% of the stock is owned by corporate insiders.

About Orange County Bancorp

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.