NBT Bancorp Inc. (NASDAQ:NBTB) Announces $0.34 Quarterly Dividend

NBT Bancorp Inc. (NASDAQ:NBTB) announced a quarterly dividend on Monday, January 27th, RTT News reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.34 per share by the bank on Monday, March 17th. This represents a $1.36 annualized dividend and a yield of 2.85%. The ex-dividend date is Monday, March 3rd.

NBT Bancorp has raised its dividend payment by an average of 6.3% 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 31.6% meaning its dividend is sufficiently covered by earnings. Analysts expect NBT Bancorp to earn $4.40 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 30.9%.

NBT Bancorp Stock Up 1.3 %

NBTB stock opened at $47.75 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $52.44. The company’s 50 day moving average is $47.70 and its two-hundred day moving average is $47.23. The stock has a market cap of $2.25 billion, a P/E ratio of 16.13 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter last year, the firm posted $0.72 EPS. Research analysts expect that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, EVP Sarah A. Halliday sold 5,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the sale, the executive vice president now directly owns 25,564 shares in the company, valued at approximately $1,238,575.80. The trade was a 16.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amy Wiles sold 500 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total transaction of $25,655.00. Following the sale, the executive vice president now owns 27,409 shares in the company, valued at $1,406,355.79. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,694 shares of company stock worth $277,935 in the last three months. Insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a report on Wednesday, January 29th. Finally, DA Davidson assumed coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They issued a “neutral” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.75.

NBT Bancorp Company Profile

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.