NBT Bancorp Inc. (NASDAQ:NBTB) to Issue Quarterly Dividend of $0.32

NBT Bancorp Inc. (NASDAQ:NBTB) declared a quarterly dividend on Tuesday, May 21st, Zacks reports. Shareholders of record on Monday, June 3rd will be given a dividend of 0.32 per share by the bank on Monday, June 17th. This represents a $1.28 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Monday, June 3rd.

NBT Bancorp has increased its dividend by an average of 4.7% per year over the last three years and has increased its dividend every year for the last 11 years. NBT Bancorp has a dividend payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect NBT Bancorp to earn $3.19 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 40.1%.

NBT Bancorp Trading Down 0.8 %

NBTB stock opened at $38.08 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. NBT Bancorp has a twelve month low of $30.31 and a twelve month high of $43.77. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 14.70 and a beta of 0.52. The firm’s fifty day simple moving average is $35.71 and its two-hundred day simple moving average is $36.79.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. The business had revenue of $192.33 million for the quarter, compared to analysts’ expectations of $135.01 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. As a group, analysts anticipate that NBT Bancorp will post 2.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of NBT Bancorp in a report on Tuesday, April 23rd. Piper Sandler cut their price target on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Keefe, Bruyette & Woods cut their price target on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Finally, Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, NBT Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.20.

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.