Orange County Bancorp, Inc. (NASDAQ:OBT) Short Interest Up 22.9% in June

Orange County Bancorp, Inc. (NASDAQ:OBT) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 20,900 shares, an increase of 22.9% from the May 31st total of 17,000 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 7,100 shares, the short-interest ratio is currently 2.9 days.

Insider Transactions at Orange County Bancorp

In other news, EVP Michael J. Coulter sold 1,000 shares of Orange County Bancorp stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $51.84, for a total value of $51,840.00. Following the completion of the transaction, the executive vice president now owns 5,201 shares of the company’s stock, valued at approximately $269,619.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,485 shares of company stock worth $76,046 in the last three months. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OBT. Vanguard Group Inc. increased its holdings in shares of Orange County Bancorp by 1.3% during the first quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock worth $9,267,000 after purchasing an additional 2,492 shares during the period. Hennessy Advisors Inc. grew its position in Orange County Bancorp by 92.9% during the first quarter. Hennessy Advisors Inc. now owns 27,000 shares of the company’s stock worth $1,242,000 after buying an additional 13,000 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Orange County Bancorp by 76.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 543 shares of the company’s stock worth $33,000 after acquiring an additional 236 shares during the period. Coombe Bender & Co LLC raised its holdings in Orange County Bancorp by 12.8% in the 4th quarter. Coombe Bender & Co LLC now owns 13,118 shares of the company’s stock valued at $790,000 after acquiring an additional 1,488 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Orange County Bancorp by 19.8% during the 4th quarter. SG Americas Securities LLC now owns 2,786 shares of the company’s stock valued at $168,000 after acquiring an additional 461 shares during the period. 42.55% of the stock is owned by institutional investors and hedge funds.

Orange County Bancorp Stock Performance

Orange County Bancorp stock traded up $0.56 during mid-day trading on Tuesday, hitting $48.07. 22,929 shares of the company’s stock traded hands, compared to its average volume of 8,245. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $47.38 and a two-hundred day simple moving average of $48.37. Orange County Bancorp has a fifty-two week low of $33.31 and a fifty-two week high of $64.01. The stock has a market cap of $272.08 million, a price-to-earnings ratio of 7.53 and a beta of 0.34.

Orange County Bancorp (NASDAQ:OBT) last announced its earnings results on Wednesday, May 1st. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.35 by $0.30. The business had revenue of $34.76 million during the quarter, compared to the consensus estimate of $24.90 million. Orange County Bancorp had a net margin of 26.05% and a return on equity of 22.70%. On average, research analysts expect that Orange County Bancorp will post 5.38 EPS for the current fiscal year.

Orange County Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, June 4th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 annualized dividend and a yield of 1.91%. Orange County Bancorp’s payout ratio is currently 14.58%.

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.