Orange County Bancorp (NASDAQ:OBT) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Orange County Bancorp (NASDAQ:OBT) from a buy rating to a hold rating in a research report report published on Saturday morning.

Other equities research analysts also recently issued reports about the company. Piper Sandler reiterated an “overweight” rating and set a $36.00 target price (up from $32.00) on shares of Orange County Bancorp in a report on Thursday, February 5th. Weiss Ratings upgraded Orange County Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Finally, Hovde Group lifted their price objective on shares of Orange County Bancorp from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Orange County Bancorp Stock Up 3.3%

Shares of Orange County Bancorp stock opened at $31.97 on Friday. Orange County Bancorp has a twelve month low of $20.97 and a twelve month high of $37.99. The stock has a market cap of $427.44 million, a price-to-earnings ratio of 9.63 and a beta of 0.42. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $32.20 and a 200 day moving average price of $28.49.

Orange County Bancorp (NASDAQ:OBT) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.75 by $0.18. Orange County Bancorp had a return on equity of 16.51% and a net margin of 26.32%.The company had revenue of $33.03 million for the quarter, compared to analyst estimates of $31.40 million. Equities research analysts forecast that Orange County Bancorp will post 2.83 earnings per share for the current fiscal year.

Orange County Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, March 4th were paid a $0.18 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $0.72 annualized dividend and a dividend yield of 2.3%. Orange County Bancorp’s payout ratio is 21.69%.

Institutional Investors Weigh In On Orange County Bancorp

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in 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 last quarter. American Century Companies Inc. boosted its stake in shares of Orange County Bancorp by 0.4% during the 2nd quarter. American Century Companies Inc. now owns 124,512 shares of the company’s stock valued at $3,217,000 after buying an additional 516 shares during the last quarter. Rhumbline Advisers grew its position in shares of Orange County Bancorp by 8.1% during the third quarter. Rhumbline Advisers now owns 10,600 shares of the company’s stock worth $267,000 after buying an additional 793 shares in the last quarter. CWM LLC increased its stake in shares of Orange County Bancorp by 174.5% in the third quarter. CWM LLC now owns 1,356 shares of the company’s stock worth $34,000 after buying an additional 862 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Orange County Bancorp by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 20,268 shares of the company’s stock worth $524,000 after buying an additional 862 shares during the last quarter. Institutional investors and hedge funds own 42.55% of the company’s stock.

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.