Orange County Bancorp, Inc. (NASDAQ:OBT) Announces $0.23 Quarterly Dividend

Orange County Bancorp, Inc. (NASDAQ:OBT - Get Free Report) declared a quarterly dividend on Thursday, May 16th, Wall Street Journal reports. Shareholders of record on Tuesday, June 4th will be given a dividend of 0.23 per share on Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, June 4th.

Orange County Bancorp has a dividend payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Orange County Bancorp to earn $5.92 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 15.5%.

Orange County Bancorp Stock Down 0.6 %

Shares of NASDAQ OBT traded down $0.32 during midday trading on Tuesday, reaching $49.03. 2,837 shares of the company's stock traded hands, compared to its average volume of 7,453. The company has a market cap of $277.36 million, a price-to-earnings ratio of 7.77 and a beta of 0.28. The stock's 50 day simple moving average is $46.65 and its 200-day simple moving average is $48.48. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.64. Orange County Bancorp has a one year low of $28.21 and a one year high of $64.01.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.30. The business had revenue of $34.76 million for the quarter, compared to analysts' expectations of $24.90 million. Orange County Bancorp had a return on equity of 22.70% and a net margin of 26.05%. On average, analysts predict that Orange County Bancorp will post 5.5 EPS for the current fiscal year.

Insider Buying and Selling at Orange County Bancorp

In other Orange County Bancorp news, EVP Michael J. Coulter sold 1,000 shares of the business's stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $51.84, for a total transaction of $51,840.00. Following the sale, the executive vice president now owns 5,201 shares of the company's stock, valued at approximately $269,619.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,485 shares of company stock worth $76,046. 10.50% of the stock is owned by insiders.

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.