Orange County Bancorp, Inc. (NASDAQ:OBT) Announces Quarterly Dividend of $0.25

Orange County Bancorp, Inc. (NASDAQ:OBT) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Investors of record on Wednesday, December 4th will be given a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Wednesday, December 4th. This is an increase from Orange County Bancorp’s previous quarterly dividend of $0.23.

Orange County Bancorp has a payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Orange County Bancorp to earn $5.71 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 16.1%.

Orange County Bancorp Stock Up 1.0 %

NASDAQ:OBT opened at $59.64 on Monday. The firm has a market cap of $338.16 million, a PE ratio of 11.65 and a beta of 0.36. The company has a 50-day moving average of $57.63 and a 200 day moving average of $54.51. Orange County Bancorp has a 1-year low of $41.00 and a 1-year high of $66.11. 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 quarterly earnings results on Wednesday, October 30th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.86). The firm had revenue of $35.61 million for the quarter, compared to analysts’ expectations of $26.60 million. Orange County Bancorp had a net margin of 20.31% and a return on equity of 16.37%. As a group, research analysts anticipate that Orange County Bancorp will post 5.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Piper Sandler decreased their price target on shares of Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st.

Insider Activity

In other news, SVP Michael Listner sold 589 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.40, for a total transaction of $34,986.60. Following the transaction, the senior vice president now owns 3,072 shares in the company, valued at $182,476.80. This represents a 16.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph A. Ruhl sold 910 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $57.75, for a total transaction of $52,552.50. Following the transaction, the insider now owns 14,464 shares in the company, valued at approximately $835,296. This trade represents a 5.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,925 shares of company stock worth $110,969 over the last 90 days. 10.50% of the stock is currently owned by corporate insiders.

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.