Orange County Bancorp, Inc. (NASDAQ:OBT – Get Rating) shares rose 0% during trading on Tuesday . The stock traded as high as $47.99 and last traded at $47.98. Approximately 2,217 shares changed hands during trading, a decline of 57% from the average daily volume of 5,101 shares. The stock had previously closed at $47.96.
Analysts Set New Price Targets
Separately, Stephens initiated coverage on shares of Orange County Bancorp in a report on Friday, December 9th. They set an “overweight” rating and a $50.00 price objective for the company.
Orange County Bancorp Stock Performance
The stock’s fifty day moving average is $47.15 and its 200 day moving average is $41.87. The stock has a market cap of $270.75 million, a P/E ratio of 12.97 and a beta of 0.11.
Orange County Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Friday, December 2nd were given a dividend of $0.23 per share. The ex-dividend date was Thursday, December 1st. This is a positive change from Orange County Bancorp’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.92%. Orange County Bancorp’s dividend payout ratio (DPR) is 24.86%.
Hedge Funds Weigh In On Orange County Bancorp
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Orange County Bancorp by 268.2% during the first quarter. BlackRock Inc. now owns 13,048 shares of the company’s stock valued at $522,000 after buying an additional 9,504 shares during the period. Vanguard Group Inc. acquired a new stake in shares of Orange County Bancorp during the first quarter worth $3,726,000. The Manufacturers Life Insurance Company raised its holdings in shares of Orange County Bancorp by 2.0% during the first quarter. The Manufacturers Life Insurance Company now owns 131,436 shares of the company’s stock worth $5,259,000 after purchasing an additional 2,563 shares during the last quarter. Coombe Bender & Co LLC purchased a new position in shares of Orange County Bancorp during the second quarter worth $502,000. Finally, Banc Funds Co. LLC increased its holdings in Orange County Bancorp by 2.1% in the second quarter. Banc Funds Co. LLC now owns 488,069 shares of the company’s stock valued at $18,532,000 after buying an additional 9,905 shares in the last quarter. 41.15% of the stock is owned by hedge funds and other institutional investors.
Orange County Bancorp Company Profile
Orange County Bancorp, Inc operates as a holding company engaged in the provision of commercial banking solutions. The firm operates through the Banking and Wealth Management segments. It offers banking solutions such as business, personal banking, special services, trusts and investment services. The company was founded on May 2, 1892 and is headquartered in Middletown, NY.
- Get a free copy of the StockNews.com research report on Orange County Bancorp (OBT)
- When Will Crane Holdings Take Flight?
- 3 Retail Stocks Ringing the Register in 2023
- Is It Time To Get Aggressive With Defense Stocks?
- Qualcomm Gets a Boost from Analysts, but is it Time to Buy?
- EVgo Stock is Charged Up to Ride the EV Adoption Wave
Receive News & Ratings for Orange County Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orange County Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.