Orange County Bancorp (OBT) Expected to Announce Earnings on Wednesday

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

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.44). The company had revenue of $35.61 million for the quarter, compared to analyst estimates of $26.60 million. Orange County Bancorp had a return on equity of 16.37% and a net margin of 20.31%. 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 Price Performance

Shares of NASDAQ OBT opened at $26.67 on Tuesday. The business’s 50 day moving average is $28.12 and its 200-day moving average is $28.37. The firm has a market cap of $302.65 million, a P/E ratio of 10.42 and a beta of 0.43. Orange County Bancorp has a 1-year low of $20.50 and a 1-year high of $33.06. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Orange County Bancorp Cuts Dividend

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

Insider Activity at Orange County Bancorp

In related news, SVP Michael Listner sold 1,178 shares of Orange County Bancorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $29.70, for a total transaction of $34,986.60. Following the sale, the senior vice president now directly owns 6,144 shares of the company’s stock, valued at approximately $182,476.80. The trade was a 16.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joseph A. Ruhl sold 1,820 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $28.88, for a total transaction of $52,552.50. Following the completion of the transaction, the insider now directly owns 28,928 shares of the company’s stock, valued at approximately $835,296. The trade was a 5.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,850 shares of company stock worth $110,969. Company insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price target 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.

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.