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

Orange County Bancorp, Inc. (NASDAQ:OBT) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders of record on Wednesday, December 4th will be given a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 annualized dividend and a dividend 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 payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

OBT stock opened at $59.64 on Monday. The company’s fifty day moving average price is $57.63 and its 200-day moving average price is $54.51. Orange County Bancorp has a one year low of $41.00 and a one year high of $66.11. The company has a market capitalization of $338.16 million, a PE ratio of 11.65 and a beta of 0.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89.

Orange County Bancorp (NASDAQ:OBT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.86). Orange County Bancorp had a return on equity of 16.37% and a net margin of 20.31%. The business had revenue of $35.61 million during the quarter, compared to the consensus estimate of $26.60 million. On average, equities analysts anticipate that Orange County Bancorp will post 5.43 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Piper Sandler cut their price objective on shares of Orange County Bancorp from $69.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st.

Insider Buying and Selling at Orange County Bancorp

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

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.