Orange County Bancorp, Inc. (NASDAQ:OBT) Sees Large Decline in Short Interest

Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 28,400 shares, a drop of 17.4% from the March 15th total of 34,400 shares. Based on an average trading volume of 7,500 shares, the days-to-cover ratio is presently 3.8 days. Currently, 0.6% of the company's stock are short sold.

Orange County Bancorp Stock Up 0.1 %

NASDAQ:OBT traded up $0.05 during trading hours on Friday, reaching $46.11. 1,676 shares of the company traded hands, compared to its average volume of 6,095. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.54. The business's 50-day moving average price is $45.66 and its two-hundred day moving average price is $47.72. Orange County Bancorp has a 1 year low of $26.88 and a 1 year high of $64.01. The stock has a market capitalization of $260.84 million, a P/E ratio of 8.82 and a beta of 0.25.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.03. The business had revenue of $25.89 million during the quarter, compared to analyst estimates of $24.60 million. Orange County Bancorp had a net margin of 22.47% and a return on equity of 22.06%. Analysts predict that Orange County Bancorp will post 5.49 earnings per share for the current year.

Orange County Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, March 1st. Orange County Bancorp's dividend payout ratio (DPR) is 17.59%.

Hedge Funds Weigh In On Orange County Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new stake in shares of Orange County Bancorp in the first quarter worth $26,000. UBS Group AG purchased a new stake in shares of Orange County Bancorp during the 3rd quarter valued at about $54,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Orange County Bancorp during the 3rd quarter valued at about $60,000. California State Teachers Retirement System bought a new position in shares of Orange County Bancorp in the 2nd quarter worth approximately $63,000. Finally, Barclays PLC purchased a new position in shares of Orange County Bancorp in the second quarter worth approximately $68,000. Institutional investors own 42.55% of the company's stock.

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 affluent individuals. It accepts various deposit products, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.