Hennessy Advisors Inc. Has $1.84 Million Holdings in Orange County Bancorp, Inc. (NASDAQ:OBT)

Hennessy Advisors Inc. raised its holdings in Orange County Bancorp, Inc. (NASDAQ:OBT) by 28.9% during the 2nd quarter, Holdings Channel.com reports. 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.’s holdings in Orange County Bancorp were worth $1,841,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in OBT. Tower Research Capital LLC TRC lifted its stake in shares of Orange County Bancorp by 76.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 543 shares of the company’s stock worth $33,000 after buying an additional 236 shares during the last quarter. 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 during the period. Finally, Vanguard Group Inc. raised its holdings 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 acquiring an additional 2,492 shares during the period. 42.55% of the stock is owned by institutional investors and hedge funds.

Orange County Bancorp Trading Up 8.8 %

OBT opened at $59.39 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.45. Orange County Bancorp, Inc. has a twelve month low of $39.71 and a twelve month high of $64.01. The stock has a market capitalization of $335.97 million, a price-to-earnings ratio of 9.41 and a beta of 0.34. The company has a 50-day simple moving average of $53.17 and a 200 day simple moving average of $48.71.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.16. The company had revenue of $36.32 million for 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%. Analysts predict that Orange County Bancorp, Inc. will post 5.73 EPS for the current fiscal year.

Orange County Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Wednesday, September 4th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Wednesday, September 4th. Orange County Bancorp’s payout ratio is 14.58%.

Analyst Ratings Changes

Separately, Piper Sandler boosted their target price 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 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.