Orange County Bancorp (OBT) Projected to Post Earnings on Wednesday

Orange County Bancorp (NASDAQ:OBT) is expected to issue its quarterly earnings data before the market opens on Wednesday, January 29th. Analysts expect the company to announce earnings of $0.68 per share for the quarter.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.44). The firm had revenue of $35.61 million for the quarter, compared to analysts’ expectations of $26.60 million. Orange County Bancorp had a net margin of 20.31% and a return on equity of 16.37%. On average, analysts expect Orange County Bancorp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Orange County Bancorp Stock Up 0.6 %

OBT opened at $26.72 on Wednesday. Orange County Bancorp has a 1 year low of $20.50 and a 1 year high of $33.06. The firm has a 50 day moving average price of $28.48 and a 200 day moving average price of $28.31. The company has a market cap of $303.27 million, a PE ratio of 10.44 and a beta of 0.43. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89.

Orange County Bancorp Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, December 4th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.50 annualized dividend and a dividend yield of 1.87%. Orange County Bancorp’s payout ratio is currently 19.53%.

Analysts Set New Price Targets

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

Insider Transactions at Orange County Bancorp

In related news, SVP Michael Listner sold 1,178 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $29.70, for a total value of $34,986.60. Following the transaction, the senior vice president now directly owns 6,144 shares in the company, valued at approximately $182,476.80. This trade represents a 16.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $52,552.50. Following the sale, the insider now owns 28,928 shares of the company’s stock, valued at $835,296. This trade represents a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,850 shares of company stock worth $110,969 in the last 90 days. 10.50% of the stock is owned by 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.