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

NBT Bancorp Inc. (NASDAQ:NBTB) announced a quarterly dividend on Monday, January 27th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Monday, March 3rd.

NBT Bancorp has increased its dividend payment by an average of 6.3% annually over the last three years and has increased its dividend every year for the last 12 years. NBT Bancorp has a dividend payout ratio of 31.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ NBTB opened at $47.75 on Friday. The firm has a 50-day simple moving average of $47.70 and a 200-day simple moving average of $47.23. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 16.13 and a beta of 0.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 52 week low of $32.79 and a 52 week high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last issued its 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 17.84% and a return on equity of 9.39%. During the same quarter last year, the firm earned $0.72 earnings per share. On average, equities analysts predict that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. 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 price objective for the company. Keefe, Bruyette & Woods upped their price objective 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 price objective for the company in a report on Wednesday, January 29th. Finally, StockNews.com lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Insiders Place Their Bets

In related news, Director Heidi M. Hoeller bought 678 shares of the stock in a transaction on Friday, February 7th. The stock was bought at an average price of $48.45 per share, with a total value of $32,849.10. Following the completion of the purchase, the director now directly owns 6,437 shares in the company, valued at $311,872.65. This represents a 11.77 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sarah A. Halliday sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 25,564 shares of the company’s stock, valued at approximately $1,238,575.80. The trade was a 16.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,694 shares of company stock valued at $277,935 over the last 90 days. 3.32% of the stock is owned by company insiders.

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.