NBT Bancorp Inc. (NBTB) to Issue Quarterly Dividend of $0.34 on March 17th

NBT Bancorp Inc. (NASDAQ:NBTB) declared a quarterly dividend on Monday, January 27th,RTT News reports. Shareholders of record on Monday, March 3rd will be given a dividend of 0.34 per share by the bank on Monday, March 17th. This represents a $1.36 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Monday, March 3rd.

NBT Bancorp has increased its dividend by an average of 6.3% per year over the last three years and has increased its dividend every year for the last 12 years. NBT Bancorp has a payout ratio of 32.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect NBT Bancorp to earn $3.46 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 39.3%.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $46.09 on Wednesday. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 16.23 and a beta of 0.53. The stock’s 50-day moving average is $48.80 and its 200-day moving average is $47.01. NBT Bancorp has a one year low of $32.79 and a one year high of $52.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the prior year, the business earned $0.72 earnings per share. Equities analysts predict that NBT Bancorp will post 2.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NBTB has been the topic of several analyst reports. StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their target price on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, DA Davidson initiated coverage on NBT Bancorp in a report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.75.

Insider Activity

In other news, Director Timothy E. Delaney sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the sale, the director now directly owns 38,853 shares of the company’s stock, valued at $1,999,763.91. This trade represents a 50.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John H. Watt, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.40, for a total value of $494,000.00. Following the completion of the sale, the director now directly owns 125,301 shares of the company’s stock, valued at approximately $6,189,869.40. The trade was a 7.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,694 shares of company stock valued at $3,139,185 over the last three months. Insiders own 3.32% of the company’s stock.

About NBT Bancorp

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.