NBT Bancorp Inc. (NBTB) To Go Ex-Dividend on December 2nd

NBT Bancorp Inc. (NASDAQ:NBTB) announced a quarterly dividend on Monday, October 28th,Zacks Dividends reports. Shareholders of record on Monday, December 2nd will be given 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 yield of 2.71%. The ex-dividend date is Monday, December 2nd.

NBT Bancorp has raised its dividend by an average of 4.7% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. NBT Bancorp has a payout ratio of 39.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NBT Bancorp to earn $3.40 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 40.0%.

NBT Bancorp Stock Up 0.1 %

NBT Bancorp stock opened at $50.12 on Friday. The firm has a market capitalization of $2.36 billion, a P/E ratio of 17.65 and a beta of 0.49. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $52.31. The stock’s fifty day simple moving average is $46.30 and its 200-day simple moving average is $43.57.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. The business had revenue of $202.00 million during the quarter, compared to analysts’ expectations of $144.70 million. During the same quarter last year, the business posted $0.84 EPS. As a group, equities analysts expect that NBT Bancorp will post 2.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NBTB has been the topic of several recent analyst reports. Stephens reissued an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.60.

Insider Buying and Selling

In related news, EVP Amy Wiles sold 556 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $25,020.00. Following the transaction, the executive vice president now owns 28,909 shares in the company, valued at $1,300,905. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the transaction, the director now directly owns 517,558 shares in the company, valued at approximately $22,824,307.80. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,556 shares of company stock worth $8,540,290 in the last ninety days. 3.32% of the stock is owned by corporate insiders.

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 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.