Orange County Bancorp, Inc. (NASDAQ:OBT) Raises Dividend to $0.13 Per Share

by · The Cerbat Gem

Orange County Bancorp, Inc. (NASDAQ:OBT – Get Free Report) 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 a positive change from Orange County Bancorp’s previous quarterly dividend of $0.13.

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 $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 Trading Down 1.8 %

Shares of NASDAQ:OBT traded down $0.46 during trading on Friday, hitting $25.43. 20,699 shares of the company’s stock were exchanged, compared to its average volume of 24,635. The firm has a market cap of $288.63 million, a P/E ratio of 10.30 and a beta of 0.41. The firm has a 50-day moving average price of $26.93 and a two-hundred day moving average price of $28.06. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Orange County Bancorp has a 1-year low of $21.00 and a 1-year high of $33.06.

Orange County Bancorp (NASDAQ:OBT – Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.05). Orange County Bancorp had a net margin of 19.47% and a return on equity of 15.51%. Equities analysts predict that Orange County Bancorp will post 2.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Piper Sandler boosted their price objective 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.

Get Our Latest Stock Report on Orange County Bancorp

About Orange County Bancorp

(Get Free Report)

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.

Featured Stories