NBT Bancorp Inc. (NBTB) to Issue Quarterly Dividend of $0.37 on June 15th

NBT Bancorp Inc. (NASDAQ:NBTB) declared a quarterly dividend on Tuesday, May 19th. Investors 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 3.2%. The ex-dividend date is Monday, June 1st.

NBT Bancorp has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 12 consecutive years. NBT Bancorp has a payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of NBTB stock opened at $45.57 on Thursday. NBT Bancorp has a 12-month low of $39.19 and a 12-month high of $46.92. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 12.98 and a beta of 0.47. The business has a 50 day simple moving average of $43.66 and a 200 day simple moving average of $43.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.87.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on NBTB shares. Janney Montgomery Scott lowered NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. Brean Capital lowered NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. DA Davidson reissued a “buy” rating and issued a $52.00 price objective on shares of NBT Bancorp in a report on Monday, April 27th. Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Hovde Group decreased their price objective on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.