NBT Bancorp Inc. (NASDAQ:NBTB) announced a quarterly dividend on Monday, March 23rd, Zacks reports. Shareholders of record on Monday, June 1st will be paid a dividend of 0.27 per share by the bank on Monday, June 15th. This represents a $1.08 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, May 29th.
NBT Bancorp has increased its dividend by an average of 5.5% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. NBT Bancorp has a payout ratio of 43.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect NBT Bancorp to earn $2.67 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 40.4%.
Shares of NASDAQ:NBTB traded down $0.29 during midday trading on Wednesday, hitting $31.40. 3,875 shares of the stock were exchanged, compared to its average volume of 244,584. The company has a market capitalization of $1.39 billion, a PE ratio of 11.27 and a beta of 0.85. The business’s fifty day simple moving average is $35.49 and its two-hundred day simple moving average is $38.08. NBT Bancorp has a 52-week low of $27.54 and a 52-week high of $41.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.88 and a current ratio of 0.88.
NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, January 27th. The bank reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $113.42 million for the quarter, compared to analyst estimates of $110.50 million. NBT Bancorp had a return on equity of 11.19% and a net margin of 23.66%. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, equities analysts anticipate that NBT Bancorp will post 2.55 EPS for the current year.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. BidaskClub upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th.
About NBT Bancorp
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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.
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