Orange County Bancorp (NASDAQ:OBT) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Orange County Bancorp (NASDAQ:OBT) issued its quarterly earnings results on Wednesday. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05), Zacks reports. Orange County Bancorp had a net margin of 20.31% and a return on equity of 16.37%.

Orange County Bancorp Stock Up 4.5 %

Orange County Bancorp stock traded up $1.18 during mid-day trading on Wednesday, reaching $27.29. The stock had a trading volume of 25,106 shares, compared to its average volume of 29,926. The firm has a market capitalization of $309.74 million, a PE ratio of 10.66 and a beta of 0.41. Orange County Bancorp has a fifty-two week low of $20.50 and a fifty-two week high of $33.06. The stock’s 50-day simple moving average is $27.65 and its 200-day simple moving average is $28.30. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89.

Orange County Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, December 4th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Wednesday, December 4th. Orange County Bancorp’s dividend payout ratio (DPR) is currently 19.53%.

Insider Transactions at Orange County Bancorp

In other Orange County Bancorp news, insider Joseph A. Ruhl sold 1,820 shares of Orange County Bancorp stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $28.88, for a total transaction of $52,552.50. Following the completion of the transaction, the insider now owns 28,928 shares in the company, valued at approximately $835,296. The trade was a 5.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.50% of the stock is owned by insiders.

Analyst Ratings Changes

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

About Orange County Bancorp

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.