Hennessy Advisors Inc. Has $1.24 Million Position in Orange County Bancorp, Inc. (NASDAQ:OBT)

Hennessy Advisors Inc. increased its position in shares of Orange County Bancorp, Inc. (NASDAQ:OBT) by 92.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,000 shares of the company’s stock after purchasing an additional 13,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.48% of Orange County Bancorp worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in OBT. Tower Research Capital LLC TRC raised its holdings in Orange County Bancorp by 76.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 543 shares of the company’s stock valued at $33,000 after acquiring an additional 236 shares in the last quarter. SG Americas Securities LLC raised its holdings in Orange County Bancorp by 19.8% in the 4th quarter. SG Americas Securities LLC now owns 2,786 shares of the company’s stock valued at $168,000 after acquiring an additional 461 shares in the last quarter. Finally, Coombe Bender & Co LLC raised its holdings 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 valued at $790,000 after acquiring an additional 1,488 shares in the last quarter. 42.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Orange County Bancorp

In other news, EVP Michael J. Coulter sold 1,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $51.84, for a total transaction of $51,840.00. Following the completion of the transaction, the executive vice president now owns 5,201 shares of the company’s stock, valued at approximately $269,619.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 1,485 shares of company stock valued at $76,046. Corporate insiders own 10.50% of the company’s stock.

Orange County Bancorp Price Performance

Shares of NASDAQ OBT opened at $52.88 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.86. Orange County Bancorp, Inc. has a fifty-two week low of $33.31 and a fifty-two week high of $64.01. The stock has a market capitalization of $299.30 million, a PE ratio of 8.38 and a beta of 0.33. The business has a fifty day moving average price of $47.33 and a two-hundred day moving average price of $48.48.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.30. Orange County Bancorp had a return on equity of 22.70% and a net margin of 26.05%. The company had revenue of $34.76 million during the quarter, compared to analysts’ expectations of $24.90 million. As a group, equities analysts predict that Orange County Bancorp, Inc. will post 5.38 earnings per share for the current fiscal year.

Orange County Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.74%. Orange County Bancorp’s dividend payout ratio (DPR) is currently 14.58%.

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