Orange County Bancorp (NASDAQ:OBT) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Orange County Bancorp (NASDAQ:OBT) posted its quarterly earnings results on Wednesday. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.16, Zacks reports. Orange County Bancorp had a return on equity of 21.76% and a net margin of 24.81%. The firm had revenue of $36.32 million during the quarter, compared to analyst estimates of $25.34 million.

Orange County Bancorp Price Performance

NASDAQ OBT traded down $0.83 during trading hours on Friday, reaching $55.30. The company’s stock had a trading volume of 12,172 shares, compared to its average volume of 18,319. The firm’s 50-day moving average price is $50.88 and its 200-day moving average price is $48.27. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.64. Orange County Bancorp has a 1 year low of $39.71 and a 1 year high of $64.01. The company has a market capitalization of $313.00 million, a price-to-earnings ratio of 8.76 and a beta of 0.34.

Orange County Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, June 4th were issued a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.92 dividend on an annualized basis and a yield of 1.66%. Orange County Bancorp’s dividend payout ratio is presently 14.58%.

Insider Transactions at Orange County Bancorp

In other news, EVP Michael J. Coulter sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 5,201 shares of the company’s stock, valued at approximately $269,619.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler lifted their price objective on Orange County Bancorp from $53.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday.

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.