Orange County Bancorp, Inc. (NASDAQ:OBT) Short Interest Update

by · The Markets Daily

Orange County Bancorp, Inc. (NASDAQ:OBT – Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 112,300 shares, an increase of 24.5% from the February 28th total of 90,200 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 23,400 shares, the short-interest ratio is currently 4.8 days.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their price objective on Orange County Bancorp from $33.00 to $35.50 and gave the stock an “overweight” rating in a report on Friday, December 13th.

Read Our Latest Analysis on OBT

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in shares of Orange County Bancorp in the fourth quarter valued at approximately $46,000. Public Employees Retirement System of Ohio purchased a new stake in Orange County Bancorp in the 4th quarter valued at $60,000. Wells Fargo & Company MN increased its stake in shares of Orange County Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 2,999 shares of the company’s stock worth $167,000 after acquiring an additional 652 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Orange County Bancorp during the 4th quarter worth $206,000. Finally, Two Sigma Investments LP raised its position in shares of Orange County Bancorp by 25.7% during the 4th quarter. Two Sigma Investments LP now owns 5,294 shares of the company’s stock valued at $294,000 after buying an additional 1,084 shares during the period. 42.55% of the stock is owned by hedge funds and other institutional investors.

Orange County Bancorp Price Performance

Shares of OBT traded down $0.26 during trading hours on Wednesday, hitting $23.65. 31,322 shares of the stock were exchanged, compared to its average volume of 24,916. The stock’s 50-day moving average price is $25.36 and its two-hundred day moving average price is $27.39. Orange County Bancorp has a 12-month low of $21.00 and a 12-month high of $33.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $268.64 million, a price-to-earnings ratio of 9.57 and a beta of 0.42.

Orange County Bancorp (NASDAQ:OBT – Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.05). Orange County Bancorp had a return on equity of 15.51% and a net margin of 19.47%. Research analysts expect that Orange County Bancorp will post 2.83 earnings per share for the current year.

Orange County Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, March 4th were issued a $0.13 dividend. This is an increase from Orange County Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, March 4th. This represents a $0.52 dividend on an annualized basis and a yield of 2.20%. Orange County Bancorp’s dividend payout ratio is presently 21.05%.

Orange County Bancorp Company Profile

(Get Free Report)

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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