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

Orange County Bancorp, Inc. (NASDAQ:OBT) declared a quarterly dividend on Thursday, February 20th, 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 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Tuesday, March 4th. This is a boost 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 Price Performance

OBT stock opened at $25.55 on Friday. The company has a fifty day moving average price of $26.57 and a 200-day moving average price of $28.04. The company has a market capitalization of $289.94 million, a P/E ratio of 10.34 and a beta of 0.41. 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 quick ratio of 0.89 and a current ratio of 0.89.

Orange County Bancorp (NASDAQ:OBT) last announced its earnings results on Wednesday, February 5th. The company reported $0.63 earnings per share (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 analysts expect that Orange County Bancorp will post 2.83 EPS for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler raised their price objective on Orange County Bancorp from $33.00 to $35.50 and gave the stock an “overweight” rating in a research 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.