Wells Fargo & Company MN Increases Position in Orange County Bancorp, Inc. (NASDAQ:OBT)

Wells Fargo & Company MN grew its holdings in Orange County Bancorp, Inc. (NASDAQ:OBT) by 27.8% during the fourth quarter, HoldingsChannel reports. The firm owned 2,999 shares of the company’s stock after acquiring an additional 652 shares during the period. Wells Fargo & Company MN’s holdings in Orange County Bancorp were worth $167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OBT. JPMorgan Chase & Co. lifted its position in Orange County Bancorp by 129.0% during the fourth quarter. JPMorgan Chase & Co. now owns 19,100 shares of the company’s stock worth $1,061,000 after buying an additional 10,761 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Orange County Bancorp in the 4th quarter worth $645,000. American Century Companies Inc. raised its holdings in shares of Orange County Bancorp by 59.8% during the 4th quarter. American Century Companies Inc. now owns 53,753 shares of the company’s stock worth $2,987,000 after acquiring an additional 20,118 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Orange County Bancorp by 50.5% during the 4th quarter. Bank of New York Mellon Corp now owns 28,038 shares of the company’s stock valued at $1,558,000 after acquiring an additional 9,403 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Orange County Bancorp by 183.2% in the third quarter. Barclays PLC now owns 7,934 shares of the company’s stock valued at $478,000 after purchasing an additional 5,132 shares during the period. 42.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Orange County Bancorp

In other Orange County Bancorp news, EVP Gregory Sousa sold 2,440 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $24.61, for a total value of $60,048.40. Following the sale, the executive vice president now owns 10,280 shares of the company’s stock, valued at $252,990.80. The trade was a 19.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael J. Coulter sold 2,497 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $26.17, for a total value of $65,346.49. Following the transaction, the executive vice president now owns 4,984 shares of the company’s stock, valued at approximately $130,431.28. This represents a 33.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.30% of the company’s stock.

Orange County Bancorp Price Performance

Orange County Bancorp stock opened at $25.80 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The stock has a market cap of $293.71 million, a P/E ratio of 10.45 and a beta of 0.46. The company has a 50-day moving average price of $23.67 and a 200 day moving average price of $26.34. Orange County Bancorp, Inc. has a 12-month low of $20.97 and a 12-month high of $33.06.

Orange County Bancorp (NASDAQ:OBT) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.67 by $0.10. Orange County Bancorp had a net margin of 19.47% and a return on equity of 15.51%. The firm had revenue of $27.98 million for the quarter, compared to analyst estimates of $28.10 million. Sell-side analysts anticipate that Orange County Bancorp, Inc. will post 2.83 earnings per share for the current year.

Orange County Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Tuesday, March 4th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Orange County Bancorp’s previous quarterly dividend of $0.13. Orange County Bancorp’s dividend payout ratio is 21.58%.

About Orange County Bancorp

Orange County Bancorp, Inc, through its subsidiaries, provides commercial and consumer banking products and services, and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.