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

Orange County Bancorp, Inc. (NASDAQ:OBT) was the target of a large decline in short interest in February. As of February 13th, there was short interest totaling 48,998 shares, a decline of 38.5% from the January 29th total of 79,694 shares. Based on an average trading volume of 93,216 shares, the short-interest ratio is currently 0.5 days. Approximately 0.4% of the company’s stock are sold short. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 93,216 shares, the short-interest ratio is currently 0.5 days.

Wall Street Analyst Weigh In

A number of brokerages have commented on OBT. Piper Sandler restated an “overweight” rating and issued a $36.00 target price (up from $32.00) on shares of Orange County Bancorp in a research note on Thursday, February 5th. Hovde Group boosted their price target on Orange County Bancorp from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Wall Street Zen upgraded shares of Orange County Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings raised shares of Orange County Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 6th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Orange County Bancorp Stock Performance

Shares of NASDAQ OBT opened at $33.21 on Friday. The business’s 50-day simple moving average is $31.29 and its 200-day simple moving average is $27.81. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.91 and a current ratio of 0.91. Orange County Bancorp has a 52 week low of $20.97 and a 52 week high of $37.99. The firm has a market cap of $444.02 million, a price-to-earnings ratio of 10.00 and a beta of 0.43.

Orange County Bancorp (NASDAQ:OBT) last announced its earnings results on Wednesday, February 4th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.18. Orange County Bancorp had a return on equity of 17.24% and a net margin of 26.32%.The firm had revenue of $33.03 million during the quarter, compared to analysts’ expectations of $31.40 million. As a group, equities research analysts expect that Orange County Bancorp will post 2.83 earnings per share for the current fiscal year.

Orange County Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, March 4th. Orange County Bancorp’s dividend payout ratio is currently 21.69%.

Insider Buying and Selling at Orange County Bancorp

In related news, SVP David P. Dineen sold 1,000 shares of the 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Azora Capital LP acquired a new stake in shares of Orange County Bancorp in the second quarter valued at about $1,292,000. Fourthstone LLC bought a new stake in Orange County Bancorp during the 2nd quarter valued at approximately $6,210,000. Gator Capital Management LLC acquired a new stake in Orange County Bancorp in the 2nd quarter valued at approximately $517,000. Endeavour Capital Advisors Inc. bought a new position in Orange County Bancorp in the 2nd quarter worth approximately $5,121,000. Finally, EJF Capital LLC bought a new position in Orange County Bancorp in the 2nd quarter worth approximately $2,944,000. Institutional investors and hedge funds own 42.55% of the company’s stock.

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.