Orange County Bancorp (NASDAQ:OBT) Announces Earnings Results, Misses Expectations 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 %

Shares of NASDAQ:OBT traded up $1.18 during midday trading on Wednesday, hitting $27.29. 25,106 shares of the stock traded hands, compared to its average volume of 29,926. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. The business’s 50 day moving average is $27.65 and its two-hundred day moving average is $28.30. The stock 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 one year low of $20.50 and a one year high of $33.06.

Orange County Bancorp Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, December 4th were issued a $0.125 dividend. 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 presently 19.53%.

Insider Activity at Orange County Bancorp

In other Orange County Bancorp news, insider Joseph A. Ruhl sold 1,820 shares of the firm’s 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 sale, the insider now directly owns 28,928 shares in the company, valued at $835,296. This trade represents a 5.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 10.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.