Orange County Bancorp (NASDAQ:OBT) Announces Quarterly Earnings Results

Key Points

• Orange County Bancorp exceeded earnings expectations, reporting quarterly EPS of $1.02 versus the $0.80 analyst consensus. The company posted a 16.09% return on equity and a 27.54% net margin.
• Shares rose to $38.88 during Tuesday trading, near the 12-month high of $40.10. Analysts maintain a “Moderate Buy” consensus, with three Buy ratings, one Hold rating, and an average price target of $37.
• The company paid a quarterly dividend of $0.18, equivalent to $0.72 annually and a 1.9% yield. Institutional investors own 42.55% of Orange County Bancorp, with several major funds increasing their stakes.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) issued its earnings results on Tuesday. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.80 by $0.22, Zacks reports. Orange County Bancorp had a return on equity of 16.09% and a net margin of 27.54%.

Orange County Bancorp Stock Performance

Shares of OBT stock traded up $1.20 during mid-day trading on Tuesday, reaching $38.88. 44,259 shares of the company's stock traded hands, compared to its average volume of 63,855. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $521.38 million, a PE ratio of 11.44 and a beta of 0.41. Orange County Bancorp has a 12 month low of $22.98 and a 12 month high of $40.10. The firm has a 50 day moving average price of $36.05 and a two-hundred day moving average price of $33.95.

Orange County Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, June 4th were given a $0.18 dividend. The ex-dividend date was Thursday, June 4th. This represents a $0.72 annualized dividend and a yield of 1.9%. Orange County Bancorp's dividend payout ratio (DPR) is presently 21.18%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Orange County Bancorp in a report on Friday, June 26th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.00.

Institutional Trading of Orange County Bancorp

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in shares of Orange County Bancorp by 11.1% in the fourth quarter. AQR Capital Management LLC now owns 22,020 shares of the company's stock worth $629,000 after buying an additional 2,196 shares during the period. Barclays PLC increased its holdings in Orange County Bancorp by 5.5% in the 4th quarter. Barclays PLC now owns 52,551 shares of the company's stock worth $1,500,000 after acquiring an additional 2,721 shares in the last quarter. Marshall Wace LLP increased its holdings in Orange County Bancorp by 6.3% in the 4th quarter. Marshall Wace LLP now owns 54,236 shares of the company's stock worth $1,548,000 after acquiring an additional 3,225 shares in the last quarter. Fourthstone LLC increased its holdings in Orange County Bancorp by 169.9% in the 4th quarter. Fourthstone LLC now owns 192,846 shares of the company's stock worth $5,506,000 after acquiring an additional 121,402 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in Orange County Bancorp by 18.9% during the 4th quarter. First Trust Advisors LP now owns 38,234 shares of the company's stock worth $1,092,000 after acquiring an additional 6,081 shares during the period. Institutional investors own 42.55% of the company's stock.

About Orange County Bancorp

Orange County Bancorp, Inc NASDAQ: OBT is the bank holding company for Orange County Trust Bank, a community banking franchise headquartered in Goshen, New York. The company provides a full suite of financial services to individuals, small businesses and local organizations across Orange County and the surrounding Hudson Valley region.

Orange County Bancorp offers depository products that include checking and savings accounts, money market funds and certificates of deposit. On the lending side, the company extends commercial real estate and business loans, residential mortgage loans, consumer installment loans and home equity financing.

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