Orange County Bancorp, Inc. Announces Quarterly Dividend of $0.18 (NASDAQ:OBT)

Orange County Bancorp, Inc. (NASDAQ:OBT) announced a quarterly dividend on Thursday, February 19th. Shareholders of record on Wednesday, March 4th will be paid a dividend of 0.18 per share on Monday, March 16th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, March 4th.

Orange County Bancorp has a dividend payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. 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 $0.72 annual dividend with an expected future payout ratio of 22.0%.

Orange County Bancorp Trading Down 2.2%

Shares of NASDAQ OBT opened at $33.21 on Monday. Orange County Bancorp has a twelve month low of $20.97 and a twelve month high of $37.99. The stock has a market cap of $444.02 million, a price-to-earnings ratio of 10.00 and a beta of 0.42. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average is $31.29 and its 200-day moving average is $27.85.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.75 by $0.18. Orange County Bancorp had a return on equity of 17.24% and a net margin of 26.32%.The business had revenue of $33.03 million for the quarter, compared to the consensus estimate of $31.40 million. Equities research analysts predict that Orange County Bancorp will post 2.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OBT. Wall Street Zen upgraded Orange County Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Hovde Group boosted their price objective on shares of Orange County Bancorp from $32.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Weiss Ratings upgraded Orange County Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $36.00 price target (up from $32.00) on shares of Orange County Bancorp in a research note on Thursday, February 5th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Orange County Bancorp Company Profile

Orange County Bancorp, Inc (NASDAQ: OBT) is the bank holding company for Orange County Trust Bank, a community banking franchise headquartered in Goshen, New York. The company provides a full suite of financial services to individuals, small businesses and local organizations across Orange County and the surrounding Hudson Valley region.

Orange County Bancorp offers depository products that include checking and savings accounts, money market funds and certificates of deposit. On the lending side, the company extends commercial real estate and business loans, residential mortgage loans, consumer installment loans and home equity financing.