Orange County Bancorp (OBT) to Release Earnings on Wednesday

Orange County Bancorp (NASDAQ:OBT) will likely be announcing its earnings results 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 announced its quarterly earnings data 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 business had revenue of $35.61 million during the quarter, compared to the consensus estimate 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 Performance

Shares of Orange County Bancorp stock opened at $26.72 on Wednesday. Orange County Bancorp has a 52 week low of $20.50 and a 52 week high of $33.06. 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 stock has a market capitalization of $303.27 million, a price-to-earnings ratio of 10.44 and a beta of 0.43. The firm has a fifty day moving average of $28.48 and a two-hundred day moving average of $28.31.

Orange County Bancorp Cuts Dividend

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

Analysts Set New Price Targets

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 note on Friday, December 13th.

Insiders Place Their Bets

In other Orange County Bancorp news, SVP Michael Listner sold 1,178 shares of the 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 completion of the sale, the senior vice president now owns 6,144 shares in the company, valued at $182,476.80. This trade represents a 16.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph A. Ruhl sold 1,820 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $28.88, for a total transaction of $52,552.50. Following the transaction, the insider now owns 28,928 shares in the company, valued at $835,296. This represents a 5.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,850 shares of company stock worth $110,969. Company 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.