NBT Bancorp Inc. (NBTB) to Issue Quarterly Dividend of $0.37 on June 15th

NBT Bancorp Inc. (NASDAQ:NBTB) announced a quarterly dividend on Tuesday, May 19th. Stockholders of record on Monday, June 1st will be paid a dividend of 0.37 per share by the bank on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, June 1st.

NBT Bancorp has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 12 years. NBT Bancorp has a payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NBT Bancorp to earn $4.46 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 33.2%.

NBT Bancorp Stock Performance

Shares of NBTB opened at $46.24 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average price is $44.34 and its 200-day moving average price is $43.49. NBT Bancorp has a 52 week low of $39.19 and a 52 week high of $46.92. The stock has a market cap of $2.40 billion, a P/E ratio of 13.17 and a beta of 0.47.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The company had revenue of $184.48 million during the quarter, compared to the consensus estimate of $185.36 million. Equities research analysts anticipate that NBT Bancorp will post 4.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

NBTB has been the topic of a number of analyst reports. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. DA Davidson reissued a “buy” rating and issued a $52.00 price target on shares of NBT Bancorp in a research report on Monday, April 27th. Brean Capital cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Hovde Group dropped their price target on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.50.

NBT Bancorp Company Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.