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

NBT Bancorp Inc. (NASDAQ:NBTB) announced a quarterly dividend on Monday, October 28th,Zacks Dividends 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 yield of 2.71%. The ex-dividend date of this dividend is Monday, December 2nd.

NBT Bancorp has increased its dividend by an average of 4.7% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. NBT Bancorp has a dividend payout ratio of 39.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NBT Bancorp to earn $3.40 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 40.0%.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $50.12 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day simple moving average of $46.30 and a 200-day simple moving average of $43.57. NBT Bancorp has a 12 month low of $32.79 and a 12 month high of $52.31. The stock has a market capitalization of $2.36 billion, a PE ratio of 17.65 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same quarter in the prior year, the firm earned $0.84 EPS. Equities analysts predict that NBT Bancorp will post 2.91 earnings per share for the current year.

Insider Buying and Selling

In related news, Director V Daniel Robinson II sold 50,000 shares of NBT Bancorp stock in a transaction on Friday, September 13th. The stock was sold at an average price of $44.58, for a total transaction of $2,229,000.00. Following the completion of the transaction, the director now directly owns 417,558 shares of the company’s stock, valued at approximately $18,614,735.64. The trade was a 10.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Timothy E. Delaney sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were 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 in the company, valued at $1,999,763.91. This trade represents a 50.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 182,556 shares of company stock valued at $8,540,290. Corporate insiders own 3.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NBTB shares. StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Stephens reissued an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NBT Bancorp has an average rating of “Hold” and a consensus price target of $42.60.

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.