Orange County Bancorp, Inc. (NASDAQ:OBT) Declares Dividend Increase – $0.13 Per Share

Orange County Bancorp, Inc. (NASDAQ:OBT) announced a quarterly dividend on Friday, February 21st, RTT News reports. Stockholders 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 dividend 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% meaning 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

Shares of Orange County Bancorp stock traded down $0.46 during trading hours on Friday, hitting $25.43. 20,699 shares of the company’s stock traded hands, compared to its average volume of 15,693. Orange County Bancorp has a 12-month low of $21.00 and a 12-month high of $33.06. The stock has a market capitalization of $288.63 million, a price-to-earnings ratio of 10.30 and a beta of 0.41. The company has a fifty day simple moving average of $26.93 and a 200-day simple moving average of $28.06. 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 announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 earnings per share 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%. Equities research analysts anticipate that Orange County Bancorp will post 2.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price objective on Orange County Bancorp from $33.00 to $35.50 and gave the stock 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.