NBT Bancorp Inc. (NASDAQ:NBTB) Plans Quarterly Dividend of $0.37

NBT Bancorp Inc. (NASDAQ:NBTB) declared a quarterly dividend on Tuesday, May 19th. Shareholders of record on Monday, June 1st will be paid a dividend of 0.37 per share by the bank on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, June 1st.

NBT Bancorp has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 12 consecutive years. NBT Bancorp has a dividend payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect NBT Bancorp to earn $4.46 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 33.2%.

NBT Bancorp Price Performance

Shares of NASDAQ NBTB opened at $44.81 on Wednesday. The business’s 50 day moving average price is $43.58 and its two-hundred day moving average price is $43.22. The company has a market cap of $2.33 billion, a PE ratio of 12.77 and a beta of 0.47. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. NBT Bancorp has a twelve month low of $39.19 and a twelve month high of $46.92.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). The business had revenue of $184.48 million for the quarter, compared to analyst estimates of $185.36 million. NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%. On average, analysts predict that NBT Bancorp will post 4.15 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on NBTB shares. Janney Montgomery Scott downgraded NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Piper Sandler started coverage on shares of NBT Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $50.00 price objective on the stock. Hovde Group dropped their price objective on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research report on Monday, April 27th. Weiss Ratings raised shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Finally, Brean Capital lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, NBT Bancorp has a consensus rating of “Moderate Buy” and an average target price of $49.50.

NBT Bancorp Company Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.