Orange County Bancorp (NASDAQ:OBT) Announces Earnings Results, Beats Expectations By $0.16 EPS

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

Orange County Bancorp Trading Down 1.5 %

Shares of OBT traded down $0.83 during trading hours on Friday, hitting $55.30. 12,172 shares of the stock were exchanged, compared to its average volume of 18,319. Orange County Bancorp has a fifty-two week low of $39.71 and a fifty-two week high of $64.01. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $50.88 and a 200-day moving average of $48.27. The firm has a market capitalization of $313.00 million, a P/E ratio of 8.76 and a beta of 0.34.

Orange County Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Tuesday, June 4th. Orange County Bancorp’s dividend payout ratio (DPR) is presently 14.58%.

Insider Transactions at Orange County Bancorp

In related news, EVP Michael J. Coulter sold 1,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $51.84, for a total transaction of $51,840.00. Following the transaction, the executive vice president now directly owns 5,201 shares of the company’s stock, valued at $269,619.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price target on shares of Orange County Bancorp from $53.00 to $69.00 and gave the company an “overweight” rating in a research note 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.