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

NBT Bancorp Inc. (NASDAQ:NBTB) declared a quarterly dividend on Monday, January 27th,RTT News reports. Shareholders of record on Monday, March 3rd will be given 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 raised its dividend by an average of 6.3% 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 32.2% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Up 1.4 %

Shares of NASDAQ NBTB opened at $48.70 on Tuesday. NBT Bancorp has a 1 year low of $32.79 and a 1 year high of $52.44. The company has a market capitalization of $2.30 billion, a P/E ratio of 17.15 and a beta of 0.53. The company has a 50 day simple moving average of $48.86 and a 200-day simple moving average of $46.93. 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 (NASDAQ:NBTB) last posted its quarterly earnings data 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%. During the same period in the previous year, the company posted $0.72 earnings per share. On average, equities research analysts predict that NBT Bancorp will post 2.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NBTB has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price target on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. Finally, 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 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NBT Bancorp currently has a consensus rating of “Hold” and an average price target of $50.75.

Insider Buying and Selling

In other news, EVP Amy Wiles sold 500 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the sale, the executive vice president now owns 27,409 shares in the company, valued at approximately $1,406,355.79. This trade represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy E. Delaney sold 40,000 shares of NBT Bancorp stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the completion of the sale, the director now directly owns 38,853 shares in the company, valued at approximately $1,999,763.91. The trade was a 50.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,694 shares of company stock valued at $4,048,185 over the last quarter. 3.32% of the stock is currently owned by 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.