Updated 4/11/25
Founded in 1927, this single-branch bank in upstate New York has carved out a niche for itself through a conservative and disciplined approach. It leans heavily on investment-grade securities and maintains a traditional balance sheet that’s stood the test of time. It doesn’t expand rapidly or tout growth at all costs. It simply generates earnings, supports a steady dividend, and manages risk like a seasoned pro.
The current stock price sits at $480, with a 52-week range between $366.79 and $518. That upward movement—over 24% in the past year—hasn’t come with any media fanfare, but it reflects quiet confidence in the bank’s operating model. For investors looking beyond the noise, that’s often a good sign.
Recent Events
While Bank of Utica rarely issues press releases or earns headlines, the recent performance has been hard to ignore. The stock has risen more than 24% over the past 12 months, outpacing the broader market. That alone isn’t enough to make a dividend investor jump in, but it sets the stage for a closer look.
There hasn’t been a catalyst in the usual sense—no new product lines, no acquisitions, no quarterly conference calls. What’s driving the value is old-school banking at its finest: careful investment management, tight expense control, and reliable income streams. The market is slowly starting to recognize that.
With a price-to-earnings ratio of 6.4, BKUTK is trading at a noticeable discount compared to many of its banking peers. The price-to-book ratio of 0.38 is another sign that shares could be undervalued relative to the assets on the books. For income investors, those numbers matter—but they matter even more when the dividend policy backs them up.
Key Dividend Metrics
📈 Forward Dividend Yield: 3.80%
💵 Forward Annual Dividend Rate: $19.00
📅 Ex-Dividend Date: December 31, 2024
📊 Payout Ratio: 24.33%
📈 5-Year Average Dividend Yield: 4.26%
Dividend Overview
One of the most appealing aspects of Bank of Utica is its dividend. At $19 per share annually, the yield clocks in just under 4%, which is more than solid in today’s market. What makes it stand out, though, is the foundation behind that dividend. It’s not stretched thin. It’s not riding on volatile earnings. It’s supported by a healthy, consistent earnings base and a payout ratio of only 24%.
That low payout ratio is a big deal. It means the bank has plenty of flexibility to maintain or even increase the dividend, even if earnings take a temporary hit. Many high-yield stocks trade off reliability for yield, but BKUTK doesn’t seem to be playing that game. Instead, it offers a balanced mix of income and safety.
Unlike typical dividend payers that distribute quarterly, Bank of Utica pays its dividend once a year. That structure might take some getting used to, but it’s a rhythm that suits the company’s traditional approach. The next ex-dividend date is set for December 31, with payment scheduled for January 21 of the following year.
The dividend may not rise year after year like clockwork, but there’s been no history of cuts. That kind of quiet consistency is often more valuable than aggressive growth, especially for investors who are relying on dividend income for planning and stability.
Dividend Growth and Safety
If you’re investing for the long haul, dividend safety is everything. And that’s where Bank of Utica shines. The bank isn’t exposed to the same risks that many regional banks face. It doesn’t chase loan growth or operate in volatile credit markets. Instead, it focuses on investment income and maintains a rock-solid balance sheet.
That conservative approach has paid off, especially in unpredictable environments. And with only a quarter of its earnings going out as dividends, there’s plenty of cushion. The company could weather a dip in income and still comfortably support its payout.
Now, if you’re looking for rapid dividend growth, BKUTK might not be your first pick. The increases, when they come, tend to be modest. But for investors who prize dependability, this is a bank that delivers year in and year out.
The combination of a stable yield, a low payout ratio, and a conservative strategy makes Bank of Utica an attractive option for dividend investors who prefer safety over sizzle. And with shares still trading at a deep discount to book value, there’s potential upside that doesn’t rely on growth projections or market hype.
Cash Flow Statement
Bank of Utica’s cash flow profile over the trailing twelve months reflects a well-managed institution with strong internal cash generation. Operating cash flow stands at $26 million, consistent with the previous year and a clear sign that the bank’s core operations continue to produce stable, predictable income. Free cash flow mirrors this number exactly, underscoring the low capital expenditure nature of the business and suggesting that nearly all operating cash can be directed toward dividends, reinvestment, or balance sheet strength.
On the investing side, there’s been a notable positive swing, with $122 million in cash flow, compared to major outflows in 2020 and 2021. This shift implies a significant pullback from securities purchases or potential asset sales that generated inflow. Financing cash flow, on the other hand, shows a $145 million outflow, reversing prior inflows in 2020 and 2021—most likely reflecting reduced reliance on borrowed funds or distribution of excess capital. The end cash position at $47.6 million continues a gradual increase over the last few years, signaling healthy liquidity and reinforcing the bank’s capacity to maintain its dividend and conservative financial approach.
Analyst Ratings
📉 Bank of Utica (BKUTK) continues to operate well under the radar of Wall Street analysts. At this time, there haven’t been any recent upgrades, downgrades, or formal coverage from major financial institutions. The stock trades over-the-counter, and with only around 200,000 shares outstanding and limited daily volume, it’s not surprising that it hasn’t drawn much analyst attention.
📊 There’s also no published consensus price target. That doesn’t necessarily reflect poorly on the bank—it’s just a byproduct of its niche position. Many boutique banks and tightly held financial institutions function without analyst coverage simply because there’s not enough liquidity to interest large-scale investors or funds. BKUTK is one of those unique cases where investors are largely on their own in terms of valuation and outlook.
💼 Still, the fundamentals speak to a conservatively run operation. The bank’s recent financial results and ongoing commitment to its dividend suggest solid internal performance, even if it’s not reflected in analyst reports. For individual investors who rely more on financials than forecasts, Bank of Utica can still offer value—it just requires a little more hands-on research and a long-term mindset.
Earning Report Summary
Steady Results with a Familiar Approach
Bank of Utica wrapped up its most recent fiscal year with results that were very much in line with its long-standing approach—quiet, steady, and well-managed. Net income came in around $20 million, which isn’t flashy but fits perfectly with the bank’s focus on capital preservation and consistency over big swings. Most of the earnings power came from interest income, which hit just under $45 million. After subtracting about $23.8 million in interest expenses, the bank was left with a net interest income of roughly $21.2 million.
There wasn’t much action on the non-interest income front—just under $300,000—but that’s not surprising for a bank like this. They don’t chase fee income or depend on trading gains. They stick to the basics. Operating expenses were tightly controlled as well, totaling around $9.2 million. When you combine all of that, what you see is a bank that stays firmly within its lane, delivering exactly what it’s designed to deliver: reliable profits without unnecessary risk.
Balance Sheet Built for Stability
Looking at the balance sheet, the story is more of the same—and that’s a good thing. Total assets finished the year at $1.39 billion, with equity capital sitting comfortably at $331 million. Deposits came in at $1.03 billion, and net loans and leases were at $123 million, showing that Bank of Utica continues to play it safe with lending.
Perhaps the most telling number is the Tier 1 leverage ratio at 24.06%. That’s a strong cushion and a sign that the bank isn’t stretching itself too thin. It’s clear management is content letting earnings compound steadily while maintaining plenty of capital on hand. No drama, no surprises.
All in all, the latest earnings reflect a financial institution that knows exactly who it is. It’s not trying to chase trends or reinvent its business model. Bank of Utica continues to offer a picture of calm, methodical banking—something that income-focused investors can appreciate in an unpredictable market.
Chart Analysis
Price Momentum and Moving Averages
BKUTK has shown a clear upward trend over the past year. The price has steadily climbed from around $360 to over $500 at its peak, before a recent pullback. What stands out is how smoothly the 50-day moving average has tracked above the 200-day moving average since late summer, signaling ongoing strength and consistent accumulation. The gap between the two moving averages has widened over time, confirming that the momentum isn’t just a short-term spike but has been building for several months.
Even with a few dips and sharp corrections along the way—especially in March—the price has repeatedly found support near the 50-day line. That kind of behavior reflects confidence and a willingness by buyers to step in during short-term weakness. The current price remains well above the longer-term 200-day average, reinforcing that the broader trend is still intact.
Volume Activity
Trading volume is light, with occasional surges. These spikes tend to align with sharp upward price movements or brief selloffs, especially the one visible in late March. That suggests a tightly held stock where price shifts happen quickly when larger trades come through. It also adds a layer of stability, as lower volume often dampens erratic price swings, keeping the overall move smoother.
RSI Indicator
The RSI has frequently tested the overbought threshold, hovering above 70 on several occasions—particularly in April, December, and October. While this can sometimes suggest a short-term cooldown, in a stock that trends steadily upward, frequent overbought readings may simply reflect persistent demand. At the same time, RSI rarely dipped far below the midpoint, which tells us selling pressure has remained minimal throughout the year. The RSI staying mostly above 40 for the majority of the timeframe shows resilience in the price action.
Overall Trend
This chart tells the story of a stock with measured, sustained momentum. The upward slope in moving averages, minimal drawdowns, and RSI strength all point to steady hands behind the wheel. While there are moments of profit-taking and brief corrections, each one has so far been followed by a recovery and a higher high. The behavior shown here reflects a long-term climb rooted in consistency and discipline, rather than speculative bursts.
Management Team
Bank of Utica has always taken a different approach to leadership. It’s not run by executives chasing quarterly growth targets or positioning for the next media splash. This is a closely held institution, with a long-standing family legacy at the helm and a management team that clearly values consistency over flash. That sense of continuity is a big part of what’s made the bank such a stable operator over the years.
The leadership team has a clear strategy—focus on risk-averse investing, keep lending conservative, and maintain a strong capital buffer. And that’s exactly what they’ve delivered. There’s no high turnover, no sudden strategy pivots. Just a steady hand guiding the bank through changing markets with patience and caution. With one of the strongest Tier 1 leverage ratios in the sector, there’s no question the people in charge are prioritizing financial strength over aggressive expansion. It’s not about being the biggest. It’s about staying strong, dependable, and profitable over the long term.
Valuation and Stock Performance
BKUTK trades well below its book value, with a current price-to-book ratio of just 0.38. That’s notable, especially for a bank with stable earnings and very low levels of debt. It points to a disconnect between the market price and the true value of the bank’s assets. At the same time, its price-to-earnings ratio sits around 6.4, further reinforcing the idea that this stock remains undervalued in the eyes of traditional valuation metrics.
The stock has climbed over 24% in the past 12 months, showing that investors who’ve stayed the course have been rewarded. What’s more important is how it’s done so—gradually and without wild swings. While many financial names are prone to volatility, BKUTK has quietly trended higher in a smooth, almost methodical way. It doesn’t attract day traders, and that’s reflected in the price action.
What helps power those returns is the dividend. With a forward yield of 3.8% and a payout ratio that leaves ample room for future increases, the income component is a major part of the stock’s appeal. Shares currently hover around $480, just shy of the 52-week high of $518. Despite the climb, the valuation still leaves room for upside, particularly if more investors begin to take notice. The low volume and lack of analyst coverage may have kept it under the radar, but that could shift if performance continues on this path.
Risks and Considerations
There are a few factors that investors need to keep in mind. The first is liquidity. BKUTK is lightly traded, and its small float means that large trades can push the price more than expected. For someone looking to build or exit a position quickly, that’s something to be aware of.
Then there’s the question of transparency. This isn’t a company that’s constantly issuing updates or releasing projections. It doesn’t host earnings calls or deliver investor presentations. The financials are there, but it takes a bit more digging to fully understand the story. That’s not a negative for everyone, but for those who rely on regular updates, it’s a factor to consider.
Another element is the bank’s heavy focus on investment securities. While that strategy has worked well and adds stability, it does create sensitivity to interest rate changes. If rates fall quickly, investment yields could compress and impact earnings. However, the conservative approach and capital buffer help offset some of that risk.
The dividend, while reliable, is paid annually rather than quarterly. That structure might require some planning for investors who count on a steady stream of income, especially if they’re used to more frequent payouts.
Final Thoughts
BKUTK offers something increasingly rare in today’s market—a steady, predictable business model that hasn’t changed much in years. It’s not chasing trends or reinventing itself every cycle. Instead, it sticks to what it knows: managing risk, building capital, and paying a reliable dividend.
The management team has kept a tight focus on balance sheet strength, and that’s showing up in the numbers. Share price appreciation has been solid, valuation remains attractive, and the dividend provides a cushion that many investors appreciate. For those with a longer view, the opportunity lies in holding a stock that prioritizes consistency over excitement.
There’s no rush here, no sense of urgency to act before the next big news item. BKUTK gives investors the chance to step back from the noise and own a piece of a business that’s more about preservation and income than growth at any cost.
It’s not a flashy name, and that’s exactly the point. It operates quietly, pays its dividend, and manages its capital with care. In a market full of overstimulation, this is a stock that offers a welcome return to simplicity.