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

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

Orange County Bancorp Stock Up 4.5 %

Shares of OBT traded up $1.18 during mid-day trading on Wednesday, reaching $27.29. 25,106 shares of the stock traded hands, compared to its average volume of 29,918. Orange County Bancorp has a 12-month low of $20.50 and a 12-month high of $33.06. 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 firm has a market cap of $309.74 million, a price-to-earnings ratio of 10.66 and a beta of 0.41. The stock has a fifty day simple moving average of $27.65 and a 200 day simple moving average of $28.30.

Orange County Bancorp Cuts Dividend

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

Insider Transactions at Orange County Bancorp

In other Orange County Bancorp news, insider Joseph A. Ruhl sold 1,820 shares of the company’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 transaction, the insider now owns 28,928 shares in the company, valued at approximately $835,296. This represents a 5.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.50% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler raised their price objective on shares of Orange County Bancorp from $33.00 to $35.50 and gave the stock 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.