Orange County Bancorp, Inc. (OBT) to Distribute Quarterly Dividend of $0.13 on March 17th

Orange County Bancorp, Inc. (NASDAQ:OBT) declared 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 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost from Orange County Bancorp’s previous quarterly dividend of $0.13.

Orange County Bancorp has a dividend 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 OBT opened at $25.43 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average is $26.85 and its two-hundred day moving average is $28.06. Orange County Bancorp has a twelve month low of $21.00 and a twelve month high of $33.06. The firm has a market capitalization of $288.63 million, a P/E ratio of 10.30 and a beta of 0.41.

Orange County Bancorp (NASDAQ:OBT) last issued its earnings results on Wednesday, February 5th. The company reported $0.63 earnings per share 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%. On average, research analysts predict that Orange County Bancorp will post 2.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upped their target price on shares of Orange County Bancorp from $33.00 to $35.50 and gave the stock an “overweight” rating in a research report on Friday, December 13th.

About Orange County Bancorp

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.