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

Orange County Bancorp, Inc. (NASDAQ:OBT) announced a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Orange County Bancorp’s previous quarterly dividend of $0.13.

Orange County Bancorp has a payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

Orange County Bancorp stock traded down $0.46 during mid-day trading on Friday, reaching $25.43. The company had a trading volume of 20,699 shares, compared to its average volume of 24,635. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. Orange County Bancorp has a 52 week low of $21.00 and a 52 week high of $33.06. The company has a 50 day moving average of $26.93 and a 200-day moving average of $28.06. The firm has a market cap of $288.63 million, a price-to-earnings ratio of 10.30 and a beta of 0.41.

Orange County Bancorp (NASDAQ:OBT) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Orange County Bancorp had a return on equity of 15.51% and a net margin of 19.47%. On average, sell-side analysts expect that Orange County Bancorp will post 2.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler lifted their price target on shares of Orange County Bancorp from $33.00 to $35.50 and gave the company an “overweight” rating in a 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.