Orange County Bancorp, Inc. (NASDAQ:OBT) Stock Position Increased by Hennessy Advisors Inc.

Hennessy Advisors Inc. increased its holdings in Orange County Bancorp, Inc. (NASDAQ:OBT) by 28.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,809 shares of the company’s stock after purchasing an additional 7,809 shares during the quarter. Hennessy Advisors Inc. owned 0.62% of Orange County Bancorp worth $1,841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OBT. Coombe Bender & Co LLC increased 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 worth $790,000 after purchasing an additional 1,488 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Orange County Bancorp by 1.3% in the first quarter. Vanguard Group Inc. now owns 201,453 shares of the company’s stock worth $9,267,000 after buying an additional 2,492 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Orange County Bancorp by 76.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 543 shares of the company’s stock worth $33,000 after acquiring an additional 236 shares in the last quarter. 42.55% of the stock is owned by institutional investors and hedge funds.

Orange County Bancorp Stock Performance

Shares of Orange County Bancorp stock opened at $59.39 on Friday. Orange County Bancorp, Inc. has a 12 month low of $39.71 and a 12 month high of $64.01. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock has a market cap of $335.97 million, a PE ratio of 9.41 and a beta of 0.34. The business has a fifty day simple moving average of $53.17 and a 200-day simple moving average of $48.71.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.16. The firm had revenue of $36.32 million during the quarter, compared to analyst estimates of $25.34 million. Orange County Bancorp had a return on equity of 21.15% and a net margin of 24.81%. On average, sell-side analysts anticipate that Orange County Bancorp, Inc. will post 5.73 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, September 16th. Investors of record on Wednesday, September 4th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Wednesday, September 4th. Orange County Bancorp’s payout ratio is presently 14.58%.

Analysts Set New Price Targets

Separately, Piper Sandler upped their price target on shares of Orange County Bancorp from $53.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st.

Orange County Bancorp 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 individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.