Orange County Bancorp (NASDAQ:OBT) Announces Quarterly Earnings Results

Orange County Bancorp (NASDAQ:OBT) posted its quarterly earnings results on Wednesday. The company reported $0.63 earnings per share 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 Trading Up 4.5 %

Shares of OBT traded up $1.18 during mid-day trading on Wednesday, hitting $27.29. 25,106 shares of the company’s stock traded hands, compared to its average volume of 29,918. Orange County Bancorp has a 1 year low of $20.50 and a 1 year 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 business’s 50-day moving average price is $27.65 and its 200-day moving average price is $28.30. The firm has a market capitalization of $309.74 million, a P/E ratio of 10.66 and a beta of 0.41.

Orange County Bancorp Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Orange County Bancorp

In related news, insider Joseph A. Ruhl sold 1,820 shares of the company’s stock in a transaction on 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 sale, the insider now owns 28,928 shares in the company, valued at approximately $835,296. This represents a 5.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.

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.