NBT Bancorp Inc. (NASDAQ:NBTB) to Issue Quarterly Dividend of $0.34

NBT Bancorp Inc. (NASDAQ:NBTB) declared a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.34 per share by the bank on Monday, December 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Monday, December 2nd.

NBT Bancorp has increased its dividend payment by an average of 4.7% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. NBT Bancorp has a payout ratio of 39.5% meaning its dividend is sufficiently covered by earnings. Analysts expect NBT Bancorp to earn $3.52 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 38.6%.

NBT Bancorp Price Performance

NBT Bancorp stock traded up $0.65 during midday trading on Wednesday, reaching $45.94. The company had a trading volume of 51,619 shares, compared to its average volume of 202,445. NBT Bancorp has a 12-month low of $32.79 and a 12-month high of $50.83. The company has a market capitalization of $2.17 billion, a P/E ratio of 17.55 and a beta of 0.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. The firm’s fifty day simple moving average is $45.37 and its 200-day simple moving average is $41.58.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. The company had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. During the same quarter in the prior year, the business earned $0.84 EPS. As a group, equities analysts anticipate that NBT Bancorp will post 2.86 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on NBTB. Stephens reissued an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, NBT Bancorp has a consensus rating of “Hold” and an average target price of $42.60.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the transaction, the director now owns 517,558 shares of the company’s stock, valued at $22,824,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Martin Randolph Sparks sold 1,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.37, for a total value of $48,370.00. Following the sale, the executive vice president now owns 15,003 shares of the company’s stock, valued at $725,695.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director V Daniel Robinson II sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total value of $882,000.00. Following the transaction, the director now owns 517,558 shares in the company, valued at approximately $22,824,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,556 shares of company stock valued at $4,527,790 over the last three months. 3.32% of the stock is currently owned by corporate 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.