Orange County Bancorp, Inc. (NASDAQ:OBT) Short Interest Update

Orange County Bancorp, Inc. (NASDAQ:OBT) was the recipient of a significant increase in short interest in January. As of January 30th, there was short interest totaling 79,694 shares, an increase of 25.3% from the January 15th total of 63,594 shares. Based on an average daily volume of 35,120 shares, the short-interest ratio is presently 2.3 days. Currently, 0.7% of the shares of the stock are sold short. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 35,120 shares, the short-interest ratio is presently 2.3 days.

Insiders Place Their Bets

In other news, SVP David P. Dineen sold 1,000 shares of Orange County Bancorp stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $28.81, for a total transaction of $28,810.00. Following the transaction, the senior vice president directly owned 8,214 shares in the company, valued at approximately $236,645.34. This trade represents a 10.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.30% of the stock is owned by company insiders.

Institutional Trading of Orange County Bancorp

A number of institutional investors have recently bought and sold shares of OBT. Fourthstone LLC acquired a new stake in shares of Orange County Bancorp during the 2nd quarter valued at about $6,210,000. Endeavour Capital Advisors Inc. bought a new position in shares of Orange County Bancorp during the 2nd quarter valued at $5,121,000. EJF Capital LLC acquired a new stake in shares of Orange County Bancorp in the 2nd quarter valued at $2,944,000. The Manufacturers Life Insurance Company lifted its position in shares of Orange County Bancorp by 29.8% in the second quarter. The Manufacturers Life Insurance Company now owns 319,723 shares of the company’s stock worth $8,262,000 after buying an additional 73,483 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Orange County Bancorp in the second quarter worth about $1,638,000. Institutional investors and hedge funds own 42.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on OBT shares. Wall Street Zen raised Orange County Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Hovde Group raised 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 report on Friday, February 6th. Piper Sandler reiterated an “overweight” rating and issued a $36.00 target price (up from $32.00) on shares of Orange County Bancorp in a report on Thursday, February 5th. Finally, Weiss Ratings raised shares of Orange County Bancorp from a “hold (c+)” rating to a “buy (b-)” 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’s stock. Based on data from MarketBeat.com, Orange County Bancorp presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Orange County Bancorp Trading Up 0.2%

OBT traded up $0.08 during trading on Tuesday, reaching $35.39. The company had a trading volume of 68,123 shares, compared to its average volume of 63,967. The firm’s 50-day simple moving average is $30.50 and its 200 day simple moving average is $27.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $473.16 million, a price-to-earnings ratio of 10.66 and a beta of 0.43. Orange County Bancorp has a 12-month low of $20.97 and a 12-month high of $36.34.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.18. Orange County Bancorp had a net margin of 26.32% and a return on equity of 17.24%. The company had revenue of $33.03 million during the quarter, compared to analyst estimates of $31.40 million. Equities research analysts anticipate that Orange County Bancorp will post 2.83 earnings per share for the current year.

Orange County Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Thursday, December 4th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $0.72 annualized dividend and a yield of 2.0%. This is an increase from Orange County Bancorp’s previous quarterly dividend of $0.13. Orange County Bancorp’s dividend payout ratio (DPR) is currently 21.69%.

Orange County Bancorp Company Profile

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.