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

Orange County Bancorp, Inc. (NASDAQ:OBT) announced 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 yield of 2.1%. The ex-dividend date is Thursday, June 4th.

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

Orange County Bancorp Trading Down 1.0%

OBT stock opened at $33.77 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. Orange County Bancorp has a 12-month low of $22.84 and a 12-month high of $37.99. The stock has a market cap of $452.86 million, a price-to-earnings ratio of 9.93 and a beta of 0.43. The business’s 50-day moving average is $33.92 and its 200 day moving average is $31.48.

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

Analyst Upgrades and Downgrades

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