Orange County Bancorp, Inc. (NASDAQ:OBT) Declares Quarterly Dividend of $0.13

Orange County Bancorp, Inc. (NASDAQ:OBT) announced a quarterly dividend on Friday, February 21st, RTT News reports. Investors of record on Tuesday, March 4th will be paid a dividend of 0.13 per share on Monday, March 17th. This represents a $0.52 annualized dividend and a yield of 2.04%. This is an increase from Orange County Bancorp’s previous quarterly dividend of $0.13.

Orange County Bancorp has a dividend payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Orange County Bancorp to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 28.1%.

Orange County Bancorp Stock Down 1.8 %

OBT stock traded down $0.46 during midday trading on Friday, hitting $25.43. The stock had a trading volume of 20,699 shares, compared to its average volume of 15,693. The firm has a market cap of $288.63 million, a price-to-earnings ratio of 10.30 and a beta of 0.41. The business has a 50-day moving average of $26.93 and a two-hundred day moving average of $28.06. Orange County Bancorp has a 52-week low of $21.00 and a 52-week high of $33.06. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89.

Orange County Bancorp (NASDAQ:OBT) last released its earnings results on Wednesday, February 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.05). Orange County Bancorp had a return on equity of 15.51% and a net margin of 19.47%. As a group, equities research analysts forecast that Orange County Bancorp will post 2.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.