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

Orange County Bancorp (NASDAQ:OBT) posted its quarterly earnings data on Wednesday. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate 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 Trading Up 4.5 %

Orange County Bancorp stock opened at $27.29 on Thursday. Orange County Bancorp has a 12 month low of $20.50 and a 12 month high of $33.06. The stock has a market cap of $309.74 million, a price-to-earnings ratio of 10.66 and a beta of 0.41. The business has a 50 day moving average price of $27.65 and a two-hundred day moving average price of $28.30. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84.

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. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.50 annualized dividend and a yield of 1.83%. Orange County Bancorp’s dividend payout ratio is 19.53%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Orange County Bancorp

In related news, insider Joseph A. Ruhl sold 1,820 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $28.88, for a total value of $52,552.50. Following the completion of the transaction, the insider now owns 28,928 shares of the company’s stock, valued at $835,296. This represents a 5.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is owned by insiders.

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.