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

Orange County Bancorp, Inc. (NASDAQ:OBT) declared a quarterly dividend on Thursday, May 21st. Investors of record on Thursday, June 4th will be given a dividend of 0.18 per share on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, June 4th.

Orange County Bancorp has a payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings.

Orange County Bancorp Trading Down 1.0%

NASDAQ OBT opened at $33.77 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.12. The firm has a market cap of $452.86 million, a PE ratio of 9.93 and a beta of 0.43. The company has a 50 day moving average price of $33.92 and a 200 day moving average price of $31.48. Orange County Bancorp has a 52 week low of $22.84 and a 52 week high of $37.99.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. The firm had revenue of $32.08 million during the quarter, compared to analyst estimates of $32.30 million. Orange County Bancorp had a net margin of 27.54% and a return on equity of 16.09%.

Analyst Upgrades and Downgrades

OBT has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Orange County Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Hovde Group upped their price target on shares of Orange County Bancorp from $32.00 to $38.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Piper Sandler restated an “overweight” rating and set a $36.00 price target (up from $32.00) on shares of Orange County Bancorp in a research note on Thursday, February 5th. Finally, Weiss Ratings upgraded shares of Orange County Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.