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

Orange County Bancorp, Inc. (NASDAQ:OBT) announced a quarterly dividend on Thursday, August 15th, Wall Street Journal reports. Investors of record on Wednesday, September 4th will be given a dividend of 0.23 per share on Monday, September 16th. This represents a $0.92 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Wednesday, September 4th.

Orange County Bancorp has a dividend payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Orange County Bancorp to earn $5.76 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 16.0%.

Orange County Bancorp Trading Down 3.1 %

NASDAQ OBT opened at $57.45 on Monday. The stock has a market cap of $324.99 million, a P/E ratio of 9.10 and a beta of 0.34. Orange County Bancorp has a fifty-two week low of $39.71 and a fifty-two week high of $64.01. The stock has a 50 day simple moving average of $54.47 and a two-hundred day simple moving average of $49.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Orange County Bancorp (NASDAQ:OBT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.30 by $0.16. Orange County Bancorp had a net margin of 24.81% and a return on equity of 21.15%. The business had revenue of $36.32 million during the quarter, compared to analyst estimates of $25.34 million. On average, analysts forecast that Orange County Bancorp will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Piper Sandler raised their target price on shares of Orange County Bancorp from $53.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st.

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.