Orange Investment Advisors Inc. Reduces Stake in Orange County Bancorp, Inc. $OBT

Orange Investment Advisors Inc. trimmed its holdings in Orange County Bancorp, Inc. (NASDAQ:OBT) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,101,617 shares of the company’s stock after selling 60,000 shares during the quarter. Orange County Bancorp accounts for 3.5% of Orange Investment Advisors Inc.’s portfolio, making the stock its 7th largest holding. Orange Investment Advisors Inc. owned approximately 8.24% of Orange County Bancorp worth $31,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of OBT. HighTower Advisors LLC bought a new position in Orange County Bancorp during the fourth quarter worth $214,000. Culbertson A N & Co. Inc. bought a new stake in Orange County Bancorp in the 4th quarter valued at $237,000. Daytona Street Capital LLC acquired a new stake in Orange County Bancorp in the 4th quarter worth $228,000. SG Americas Securities LLC acquired a new stake in Orange County Bancorp in the 4th quarter worth $146,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Orange County Bancorp by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,666 shares of the company’s stock worth $269,000 after purchasing an additional 476 shares during the period. Institutional investors and hedge funds own 42.55% of the company’s stock.

Analyst Ratings Changes

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

Orange County Bancorp Trading Up 0.9%

Shares of Orange County Bancorp stock opened at $33.99 on Friday. Orange County Bancorp, Inc. has a 52-week low of $22.84 and a 52-week high of $37.99. The firm has a market capitalization of $455.74 million, a PE ratio of 10.00 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.92 and a quick ratio of 0.92. The company’s fifty day moving average price is $33.48 and its two-hundred day moving average price is $31.06.

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

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.