Orange County Bancorp (NASDAQ:OBT) Posts Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Orange County Bancorp (NASDAQ:OBT) issued its quarterly earnings results on Wednesday. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.30, Yahoo Finance reports. The company had revenue of $34.76 million during the quarter, compared to analysts’ expectations of $24.90 million. Orange County Bancorp had a net margin of 22.47% and a return on equity of 22.06%.

Orange County Bancorp Stock Performance

Orange County Bancorp stock traded up $0.77 during mid-day trading on Thursday, hitting $46.50. 3,518 shares of the company’s stock traded hands, compared to its average volume of 7,318. The firm has a 50 day simple moving average of $45.52 and a two-hundred day simple moving average of $47.83. Orange County Bancorp has a fifty-two week low of $26.88 and a fifty-two week high of $64.01. The stock has a market cap of $263.19 million, a price-to-earnings ratio of 8.89 and a beta of 0.28. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.91 and a quick ratio of 0.91.

Orange County Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Friday, March 1st. Orange County Bancorp’s dividend payout ratio is 17.59%.

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.