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

Orange County Bancorp, Inc. (NASDAQ:OBT) declared a quarterly dividend on Friday, February 21st, 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 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. 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 Stock Performance

Shares of OBT opened at $25.43 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $288.63 million, a price-to-earnings ratio of 10.30 and a beta of 0.41. The company’s 50 day simple moving average is $26.85 and its 200 day simple moving average is $28.06. Orange County Bancorp has a 1 year low of $21.00 and a 1 year high of $33.06.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings data 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 net margin of 19.47% and a return on equity of 15.51%. On average, sell-side analysts predict that Orange County Bancorp will post 2.83 EPS for the current year.

Analyst Upgrades and Downgrades

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