NBT Bancorp Inc. (NBTB) To Go Ex-Dividend on September 1st

NBT Bancorp Inc. (NASDAQ:NBTB) announced a quarterly dividend on Monday, July 27th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.40 per share by the bank on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 8.1% increase from NBT Bancorp’s previous quarterly dividend of $0.37.

NBT Bancorp has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 12 years. NBT Bancorp has a payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Analysts expect NBT Bancorp to earn $4.45 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 33.3%.

NBT Bancorp Stock Up 2.1%

NBT Bancorp stock opened at $53.64 on Wednesday. NBT Bancorp has a 12 month low of $39.19 and a 12 month high of $54.02. The stock has a fifty day simple moving average of $48.69 and a two-hundred day simple moving average of $45.58. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 13.11 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, July 27th. The bank reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). NBT Bancorp had a net margin of 22.58% and a return on equity of 11.36%. The business had revenue of $186.69 million for the quarter, compared to the consensus estimate of $188.81 million. Equities analysts predict that NBT Bancorp will post 4.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NBTB has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of NBT Bancorp in a research note on Tuesday, July 21st. DA Davidson reissued a “buy” rating and set a $52.00 price objective on shares of NBT Bancorp in a report on Monday, April 27th. Hovde Group lowered 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. Finally, Piper Sandler lifted their target price on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.50.

About NBT Bancorp

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.