Orange County Bancorp, Inc. (NASDAQ:OBT) Short Interest Update
by Sarita Garza · The Markets DailyOrange County Bancorp, Inc. (NASDAQ:OBT – Get Free Report) was the recipient of a significant decline in short interest in the month of 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. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 93,216 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 93,216 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.4% of the company’s shares are short sold.
Orange County Bancorp Stock Performance
Shares of Orange County Bancorp stock traded down $0.74 during trading on Friday, hitting $33.21. 66,541 shares of the stock were exchanged, compared to its average volume of 75,772. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $31.29 and a 200-day moving average price of $27.85. The stock has a market capitalization of $444.02 million, a price-to-earnings ratio of 10.00 and a beta of 0.42. Orange County Bancorp has a 1-year low of $20.97 and a 1-year high of $37.99.
Orange County Bancorp (NASDAQ:OBT – Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.18. The business had revenue of $33.03 million during the quarter, compared to the consensus estimate of $31.40 million. Orange County Bancorp had a net margin of 26.32% and a return on equity of 17.24%. As a group, equities analysts predict that Orange County Bancorp will post 2.83 EPS for the current fiscal year.
Orange County Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, March 4th. Orange County Bancorp’s payout ratio is 21.69%.
Analyst Ratings Changes
OBT has been the topic of a number of recent research reports. Hovde Group lifted their price objective on shares of Orange County Bancorp from $32.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Weiss Ratings upgraded shares of Orange County Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Piper Sandler restated an “overweight” rating and set a $36.00 price objective (up from $32.00) on shares of Orange County Bancorp in a research note on Thursday, February 5th. Finally, Wall Street Zen upgraded Orange County Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.
Get Our Latest Stock Report on OBT
Insider Buying and Selling
In other Orange County Bancorp news, SVP David P. Dineen sold 1,000 shares of Orange County Bancorp stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $28.81, for a total value of $28,810.00. Following the transaction, the senior vice president owned 8,214 shares of the company’s stock, valued at approximately $236,645.34. The trade was a 10.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 9.30% of the company’s stock.
Hedge Funds Weigh In On Orange County Bancorp
Several large investors have recently modified their holdings of OBT. Russell Investments Group Ltd. grew its position in Orange County Bancorp by 5,416.7% during the third quarter. Russell Investments Group Ltd. now owns 993 shares of the company’s stock worth $25,000 after buying an additional 975 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Orange County Bancorp during the 2nd quarter valued at $28,000. CWM LLC lifted its position in shares of Orange County Bancorp by 174.5% during the 3rd quarter. CWM LLC now owns 1,356 shares of the company’s stock valued at $34,000 after acquiring an additional 862 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Orange County Bancorp by 140.0% during the 3rd quarter. New York State Common Retirement Fund now owns 3,086 shares of the company’s stock worth $78,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Orange County Bancorp by 706.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,453 shares of the company’s stock worth $89,000 after purchasing an additional 3,025 shares during the period. 42.55% of the stock is owned by institutional investors.
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.