Banc Funds Co. LLC Sells 49,847 Shares of Orange County Bancorp, Inc. (NASDAQ:OBT)

Banc Funds Co. LLC decreased its position in shares of Orange County Bancorp, Inc. (NASDAQ:OBT) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238,025 shares of the company’s stock after selling 49,847 shares during the period. Orange County Bancorp makes up about 1.5% of Banc Funds Co. LLC’s investment portfolio, making the stock its 20th largest position. Banc Funds Co. LLC owned 2.10% of Orange County Bancorp worth $13,227,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN grew its position in Orange County Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock valued at $167,000 after acquiring an additional 652 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Orange County Bancorp by 1.5% in the third quarter. Geode Capital Management LLC now owns 111,414 shares of the company’s stock worth $6,722,000 after purchasing an additional 1,649 shares during the last quarter. Renaissance Technologies LLC increased its stake in Orange County Bancorp by 52.5% in the 4th quarter. Renaissance Technologies LLC now owns 6,100 shares of the company’s stock worth $339,000 after buying an additional 2,100 shares during the period. Barclays PLC lifted its holdings in Orange County Bancorp by 29.7% during the 4th quarter. Barclays PLC now owns 10,292 shares of the company’s stock valued at $572,000 after buying an additional 2,358 shares in the last quarter. Finally, State Street Corp grew its stake in Orange County Bancorp by 5.7% in the 3rd quarter. State Street Corp now owns 74,966 shares of the company’s stock worth $4,522,000 after acquiring an additional 4,060 shares in the last quarter. Hedge funds and other institutional investors own 42.55% of the company’s stock.

Orange County Bancorp Stock Up 0.5 %

Shares of NASDAQ OBT opened at $22.13 on Thursday. Orange County Bancorp, Inc. has a 52-week low of $20.97 and a 52-week high of $33.06. The firm has a market capitalization of $251.37 million, a price-to-earnings ratio of 8.96 and a beta of 0.46. The stock has a 50 day moving average price of $24.30 and a 200 day moving average price of $26.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89.

Orange County Bancorp (NASDAQ:OBT) last issued its earnings results on Wednesday, February 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.05). Orange County Bancorp had a return on equity of 15.51% and a net margin of 19.47%. Sell-side analysts expect that Orange County Bancorp, Inc. will post 2.83 earnings per share for the current year.

Orange County Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, March 4th. This is a boost from Orange County Bancorp’s previous quarterly dividend of $0.13. Orange County Bancorp’s dividend payout ratio (DPR) is 21.05%.

Orange County Bancorp Company Profile

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.