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

Orange County Bancorp (NASDAQ:OBT) released its quarterly earnings data on Wednesday. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 Performance

OBT opened at $27.29 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $309.74 million, a PE ratio of 10.66 and a beta of 0.41. The stock has a 50-day moving average of $27.65 and a 200-day moving average of $28.30. Orange County Bancorp has a 52-week low of $20.50 and a 52-week high of $33.06.

Orange County Bancorp Cuts Dividend

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

Wall Street Analyst Weigh In

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

Insider Activity at Orange County Bancorp

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

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.