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

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

Insider Activity

In other news, EVP Michael J. Coulter sold 1,000 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $51.84, for a total transaction of $51,840.00. Following the completion of the sale, the executive vice president now owns 5,201 shares in the company, valued at approximately $269,619.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 1,485 shares of company stock worth $76,046. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Coombe Bender & Co LLC raised its stake 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 purchasing an additional 1,488 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Orange County Bancorp by 19.8% in the fourth quarter. SG Americas Securities LLC now owns 2,786 shares of the company’s stock valued at $168,000 after buying an additional 461 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in shares of Orange County Bancorp by 92.9% in 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. Vanguard Group Inc. boosted its position in 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 acquiring an additional 2,492 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew 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 valued at $33,000 after acquiring an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 42.55% of the company’s stock.

Orange County Bancorp Stock Performance

Orange County Bancorp stock traded up $0.56 during trading hours on Tuesday, hitting $48.07. 22,929 shares of the stock traded hands, compared to its average volume of 8,245. Orange County Bancorp has a 1 year low of $33.31 and a 1 year high of $64.01. 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 stock has a market capitalization of $272.08 million, a price-to-earnings ratio of 7.53 and a beta of 0.34. The firm’s 50 day moving average price is $47.38 and its 200-day moving average price is $48.37.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.30. The business had revenue of $34.76 million during the quarter, compared to analysts’ expectations of $24.90 million. Orange County Bancorp had a return on equity of 22.70% and a net margin of 26.05%. As a group, equities analysts expect that Orange County Bancorp will post 5.38 EPS for the current fiscal year.

Orange County Bancorp Announces Dividend

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

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.