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

NBT Bancorp Inc. (NASDAQ:NBTB) declared 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 2.79%.

NBT Bancorp has increased its dividend by an average of 6.3% 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 32.2% meaning 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 Price Performance

Shares of NBTB traded up $0.68 during trading hours on Monday, hitting $48.70. 192,109 shares of the company were exchanged, compared to its average volume of 209,813. The firm has a fifty day simple moving average of $48.86 and a 200-day simple moving average of $46.93. The company has a market capitalization of $2.30 billion, a PE ratio of 17.15 and a beta of 0.53. 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 has a one year low of $32.79 and a one year high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. As a group, sell-side analysts predict that NBT Bancorp will post 2.95 earnings per share for the current year.

Insiders Place Their Bets

In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the firm’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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Amy Wiles sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $50.10, for a total value of $50,100.00. Following the completion of the transaction, the executive vice president now directly owns 27,909 shares of the company’s stock, valued at approximately $1,398,240.90. This trade represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,694 shares of company stock valued at $4,048,185 in the last quarter. Insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

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

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.