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

Orange County Bancorp, Inc. (NASDAQ:OBT) announced a quarterly dividend on Thursday, February 19th. Shareholders of record on Wednesday, March 4th will be given a dividend of 0.18 per share on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, March 4th.

Orange County Bancorp has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Orange County Bancorp to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 22.0%.

Orange County Bancorp Stock Down 2.2%

Shares of NASDAQ OBT opened at $33.21 on Monday. The stock has a fifty day moving average price of $31.29 and a 200 day moving average price of $27.85. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. Orange County Bancorp has a 12-month low of $20.97 and a 12-month high of $37.99. The company has a market cap of $444.02 million, a P/E ratio of 10.00 and a beta of 0.42.

Orange County Bancorp (NASDAQ:OBT) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.18. Orange County Bancorp had a net margin of 26.32% and a return on equity of 17.24%. The company had revenue of $33.03 million for the quarter, compared to analyst estimates of $31.40 million. Research analysts anticipate that Orange County Bancorp will post 2.83 EPS for the current fiscal year.

Insider Activity

In other news, SVP David P. Dineen sold 1,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $28.81, for a total value of $28,810.00. Following the completion of the sale, the senior vice president owned 8,214 shares in the company, valued at $236,645.34. This represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Orange County Bancorp

Institutional investors and hedge funds have recently modified their holdings of the company. Azora Capital LP raised its holdings in Orange County Bancorp by 7.4% during the 4th quarter. Azora Capital LP now owns 53,679 shares of the company’s stock valued at $1,533,000 after buying an additional 3,679 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Orange County Bancorp by 11.1% during the fourth quarter. AQR Capital Management LLC now owns 22,020 shares of the company’s stock valued at $629,000 after acquiring an additional 2,196 shares during the last quarter. Barclays PLC boosted its holdings in shares of Orange County Bancorp by 5.5% during the fourth quarter. Barclays PLC now owns 52,551 shares of the company’s stock worth $1,500,000 after purchasing an additional 2,721 shares during the period. Marshall Wace LLP grew its stake in shares of Orange County Bancorp by 6.3% in the fourth quarter. Marshall Wace LLP now owns 54,236 shares of the company’s stock worth $1,548,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Fourthstone LLC increased its holdings in Orange County Bancorp by 169.9% during the 4th quarter. Fourthstone LLC now owns 192,846 shares of the company’s stock valued at $5,506,000 after purchasing an additional 121,402 shares during the period. 42.55% of the stock is owned by hedge funds and other institutional investors.

About Orange County Bancorp

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.