Short Interest in Orange County Bancorp, Inc. (NASDAQ:OBT) Drops By 19.9%

Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totalling 19,300 shares, a drop of 19.9% from the April 15th total of 24,100 shares. Based on an average trading volume of 7,100 shares, the short-interest ratio is presently 2.7 days. Currently, 0.4% of the company's stock are short sold.

Insider Activity at Orange County Bancorp

In other news, EVP Michael J. Coulter sold 1,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $51.84, for a total transaction of $51,840.00. Following the transaction, 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. Insiders own 10.50% of the company's stock.

Hedge Funds Weigh In On Orange County Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hennessy Advisors Inc. acquired a new stake in shares of Orange County Bancorp during the 4th quarter worth about $843,000. First Horizon Advisors Inc. acquired a new stake in Orange County Bancorp during the 3rd quarter valued at $108,000. Vanguard Group Inc. raised its position in Orange County Bancorp by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 201,453 shares of the company's stock valued at $9,267,000 after purchasing an additional 2,492 shares during the last quarter. SG Americas Securities LLC acquired a new position in Orange County Bancorp in the third quarter worth $100,000. Finally, Coombe Bender & Co LLC grew its holdings in shares of Orange County Bancorp by 12.8% during the fourth quarter. Coombe Bender & Co LLC now owns 13,118 shares of the company's stock worth $790,000 after purchasing an additional 1,488 shares during the last quarter. 42.55% of the stock is owned by institutional investors.

Orange County Bancorp Stock Performance

Shares of NASDAQ OBT traded down $0.79 during trading hours on Monday, hitting $48.76. 4,844 shares of the company's stock were exchanged, compared to its average volume of 7,497. The stock has a market capitalization of $275.98 million, a price-to-earnings ratio of 7.73 and a beta of 0.28. The company's 50-day moving average price is $46.21 and its 200-day moving average price is $48.23. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.91 and a quick ratio of 0.91. Orange County Bancorp has a 1-year low of $28.21 and a 1-year high of $64.01.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.30. Orange County Bancorp had a net margin of 26.05% and a return on equity of 23.31%. The firm had revenue of $34.76 million during the quarter, compared to the consensus estimate of $24.90 million. On average, sell-side analysts expect that Orange County Bancorp will post 5.5 earnings per share for the current fiscal year.

Orange County Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a $0.23 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.92 annualized dividend and a yield of 1.89%. Orange County Bancorp's dividend payout ratio (DPR) is currently 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.

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