Orange County Bancorp, Inc. (OBT) To Go Ex-Dividend on December 4th

Orange County Bancorp, Inc. (NASDAQ:OBT) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, December 4th. This is a positive change from Orange County Bancorp’s previous quarterly dividend of $0.23.

Orange County Bancorp has a dividend payout ratio of 17.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Orange County Bancorp to earn $5.71 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 16.1%.

Orange County Bancorp Trading Up 1.0 %

Orange County Bancorp stock opened at $59.64 on Monday. The stock has a 50-day moving average price of $57.63 and a 200 day moving average price of $54.51. Orange County Bancorp has a 52 week low of $41.00 and a 52 week high of $66.11. The stock has a market cap of $338.16 million, a PE ratio of 11.65 and a beta of 0.36. 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 (NASDAQ:OBT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.86). Orange County Bancorp had a net margin of 20.31% and a return on equity of 16.37%. The firm had revenue of $35.61 million for the quarter, compared to analysts’ expectations of $26.60 million. Equities research analysts predict that Orange County Bancorp will post 5.43 earnings per share for the current fiscal year.

Insider Transactions at Orange County Bancorp

In related news, insider Joseph A. Ruhl sold 910 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $57.75, for a total value of $52,552.50. Following the transaction, the insider now directly owns 14,464 shares of the company’s stock, valued at approximately $835,296. This trade represents a 5.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael Listner sold 589 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $59.40, for a total value of $34,986.60. Following the sale, the senior vice president now directly owns 3,072 shares of the company’s stock, valued at approximately $182,476.80. This trade represents a 16.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,925 shares of company stock worth $110,969 in the last three months. Company insiders own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler dropped their target price on Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st.

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.