NBT Bancorp Inc. (NASDAQ:NBTB) Announces $0.30 Quarterly Dividend

NBT Bancorp Inc. (NASDAQ:NBTBGet Rating) announced a quarterly dividend on Monday, January 23rd, Zacks reports. Stockholders of record on Wednesday, March 1st will be given a dividend of 0.30 per share by the bank on Wednesday, March 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, February 28th.

NBT Bancorp has raised its dividend payment by an average of 3.4% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. NBT Bancorp has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Analysts expect NBT Bancorp to earn $3.99 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 30.1%.

NBT Bancorp Trading Down 11.2 %

NBTB stock opened at $37.60 on Wednesday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 10.62 and a beta of 0.61. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $43.78 and a 200-day simple moving average of $42.04. NBT Bancorp has a 52 week low of $34.58 and a 52 week high of $48.68.

NBT Bancorp (NASDAQ:NBTBGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The bank reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. NBT Bancorp had a return on equity of 13.05% and a net margin of 28.17%. The firm had revenue of $131.65 million during the quarter, compared to the consensus estimate of $130.48 million. On average, equities research analysts expect that NBT Bancorp will post 3.8 EPS for the current year.

Insider Activity at NBT Bancorp

In related news, Director Heidi M. Hoeller purchased 750 shares of the stock in a transaction that occurred on Monday, December 12th. The stock was purchased at an average cost of $42.48 per share, for a total transaction of $31,860.00. Following the acquisition, the director now owns 3,441 shares in the company, valued at $146,173.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.55% of the stock is owned by insiders.

Hedge Funds Weigh In On NBT Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. purchased a new position in NBT Bancorp in the 3rd quarter valued at about $348,000. Teachers Retirement System of The State of Kentucky purchased a new position in NBT Bancorp in the 3rd quarter valued at about $501,000. Algert Global LLC boosted its position in NBT Bancorp by 27.8% in the 3rd quarter. Algert Global LLC now owns 17,801 shares of the bank’s stock valued at $676,000 after buying an additional 3,870 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in NBT Bancorp by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 44,283 shares of the bank’s stock valued at $1,681,000 after buying an additional 2,208 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in NBT Bancorp by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,888,341 shares of the bank’s stock valued at $185,512,000 after buying an additional 96,461 shares during the last quarter. 55.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on NBTB shares. Raymond James started coverage on NBT Bancorp in a report on Wednesday, December 21st. They issued a “strong-buy” rating and a $49.00 price target for the company. StockNews.com started coverage on NBT Bancorp in a report on Wednesday, October 12th. They issued a “hold” rating for the company.

NBT Bancorp Company Profile

(Get Rating)

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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; and residential real estate loans.

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Dividend History for NBT Bancorp (NASDAQ:NBTB)

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