NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) announced a quarterly dividend on Monday, October 28th, Zacks reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.34 per share by the bank on Monday, December 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, December 2nd.
NBT Bancorp has raised its dividend payment by an average of 4.7% annually over the last three years and has raised its dividend every year for the last 12 years. NBT Bancorp has a payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NBT Bancorp to earn $3.52 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 38.6%.
NBT Bancorp Stock Up 0.4 %
NASDAQ NBTB traded up $0.18 on Wednesday, reaching $45.47. The company had a trading volume of 258,098 shares, compared to its average volume of 203,540. The company's fifty day moving average is $45.37 and its 200-day moving average is $41.58. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 17.81 and a beta of 0.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.87. NBT Bancorp has a 1-year low of $32.79 and a 1-year high of $50.83.
NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $202.00 million during the quarter, compared to analysts' expectations of $144.70 million. NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. During the same period in the prior year, the firm earned $0.84 earnings per share. On average, research analysts forecast that NBT Bancorp will post 2.86 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the transaction, the director now directly owns 517,558 shares of the company's stock, valued at $22,824,307.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the sale, the director now directly owns 517,558 shares in the company, valued at $22,824,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Martin Randolph Sparks sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.37, for a total value of $48,370.00. Following the completion of the transaction, the executive vice president now directly owns 15,003 shares in the company, valued at $725,695.11. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,556 shares of company stock valued at $4,527,790. 3.32% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on NBTB shares. Stephens reissued an "equal weight" rating and issued a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. Raymond James downgraded shares of NBT Bancorp from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.60.
Read Our Latest Report on NBT Bancorp
NBT Bancorp Company Profile
(
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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.
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